Childrens Savings Accounts
Savvy youngsters are saving more than their parents’ generation did, with 94 per cent of today’s 11-16 year olds setting money aside for the future, according to new research from Santander 123 Mini.
The Junior ISA celebrates its second birthday on the 1st November and for the first time a majority (57%) of parents are aware of the long-term children’s saving product.
Almost three quarters of parents pay pocket money in the UK, contributing over £43 million to their children's piggy banks every week, data from the latest Aviva Family Finances Report series reveals.
Skipton Building Society has bolstered its good value range of young people's savings with a unique new Children's Bond offering a rate of 3.00%, fixed for five years.
To mark the birth of The Duke and Duchess of Cambridge's baby boy, George Alexander Louis, Virgin Money is giving away Virgin Young Saver Accounts loaded with £25, and WWF Animal Adoption kits, to the first 1,000 Georges aged under 16 who open an account in-Store.
The vast majority of 10 year-olds are more savings savvy than their parents were at the same age, with more than one in 10 already putting money aside to prepare for school, university or even buying a house.
Virgin Money has partnered with the WWF, the world's leading independent conservation organisation, to show the importance of saving for the future - whether that is for the financial future of children, or protecting the future of some of the world's endangered animals.
The majority of parents with children currently 10 years old or under have some form of savings account for their child in place, according to the latest research from Lloyds TSB.
As Junior ISAs (JISAs) pass their first anniversary, analysis of Alliance Trust Savings customer data has revealed that nearly a third of JISA holders are one-year-old or under (29%), with 13 year olds the next most popular age (12%).
The Share Centre has been selected as one of the providers of Junior ISAs for looked after children and young people.
NatWest is bringing back its much-loved piggy banks in a children’s competition to design a new pig for the famous family.
Even though they aren't yet old enough to get a paying job, almost two thirds of children are already earning money to help pay for the things they want by helping with housework and doing chores.
Parents with children under 18 are resorting to taking or borrowing their children's savings to help pay the bills, according to research from MoneySupermarket.
The amount of weekly pocket money received by 8-15 year olds in 2012 has fallen to £5.98, a drop of 27p a week and £14.04 a year, with the gap between the amounts received by boys and girls also increasing, according to the Halifax Pocket Money Survey.
Clydesdale and Yorkshire Banks are to launch two new savings accounts for children.
1 to 15 of 95 for Childrens Savings Accounts