Parenting News: Britain’s Children are Super Savvy Savers
Saving is something many adults can’t bear to think about in these difficult financial times but the UK’s children are already thinking about their future and putting money away to secure it.
Nearly all of Britain’s children between 10 and 17 years of age, 97 per cent, have started to save for their future, compared to only 15 per cent of adults who began saving at the same age.
Children are now putting money away to help pay for university, a car and even a house; so that when the time comes they’re prepared.
It’s thought that due to the recent financial stresses that many British families are experiencing, children are becoming more money savvy.
Scottish Widows found that children are more likely to notice deals and offers on products due to their parent’s financial choices.
Children aren’t just focusing on going to university and buying a home, 70 per cent already know what a pension is and are planning how they’d like to spend their retirement years.
Leading social historian and Professor of Economic History at Oxford University, Professor Jane Humphries tells us in this short video how children are becoming more mindful with their money and how they can continue to save.