East Midlands children 'save the most'
24/12/2008
Children living in the east Midlands have the most savings in proportion to their pocket money, research has revealed.
A study by Halifax has found that kids in this region amass an average of £1,038 in spite of receiving £231.92 a year.
This is equivalent to over 4.5 years of saving every single penny given to them in pocket money, the firm noted.
It added that Scottish children have the lowest savings at £853 despite receiving the second-highest average amount of pocket money.
Those in London had the highest amount of pocket money at £440.44 and the largest overall level of savings with £1,379.
Head of savings at Halifax Ken Stannard commented: "It is heartening to see that children are saving. It is important to encourage a good savings habit at an early age and explain the need of financial planning for the future."
Meanwhile, Alliance & Leicester has revealed that 13.5 million Brits did not save anything this year.
|
Recommend: