RSS Feed

Childrens Savings Accounts

Money management for children

Children are becoming increasingly interested in their own finances and money management arrangements, according to new research from Halifax.

Children's savings accounts - go for free gift or interest rate?

The nation's children have not been immune from the low interest rate era with the average child's savings account now paying a gross rate of 1.13% according to independent financial research firm Defaqto.

Recession teaches children tough lessons about money

Children have been strongly impacted by the recession, according to research from YouGov commissioned by HSBC and the Personal Finance Education Group (pfeg).

Parents 'Savings Sap' fund stretched

The ‘lost generation' has been hit hard by the economic downturn as young adults have struggled to get jobs and make ends meet, so they are having to rely on their parents more than ever for support.

The cost of raising a child tops £200,000

For the first time, parents are likely to have to shell out more than £201,000 on raising a child from birth to the age of 21, according to a survey from LV=. This equates to £9,610 a year, £800 a month or £26 a day.

Boys and girls in London are UK's biggest savers

Children in London have the highest average savings balances in the UK, according to research based on savings accounts held with the Halifax.

Rates plummet on children's savings accounts

Children looking to invest Christmas cash in their first ever savings account are in for a nasty shock with the returns offered on children’s accounts plummeting since last year, according to

Parents borrow from kids’ savings

More than one in five parents have been borrowing from their children's savings account, with 44% of them borrowing between £200 and £500, the majority taking money over five months or less it was revealed today.

Children's Saving Schemes a gift that could last a lifetime

Christmas is just around the corner, and as parents and relatives look for inspiration, they might want to consider including a gift which will last years after the festive period is over (alongside the usual, more instantly gratifying presents and treats).

Post Office to expand financial services offer

The Business Secretary Lord Mandelson today opened a public consultation on new financial products and services that could be offered by the Post Office.

Children's savings accounts - not much incentive to save

Andrew Hagger at comments on the Children's Savings market: We keep hearing how important it is to have some savings behind you, but when you look at the rates of interest on offer for children's accounts, you can see why some parents just don't bother.

Principality launches new children’s regular saver account

Kids can get a big boost to their pocket money - and get into the savings habit - with a new regular saver account from Principality Building Society that pays a great fixed rate interest rate of 5% AER (launching Thursday 13 August).

Pocket money comes of age

In October 1987, Halifax surveyed members of the Little Extra's Club gaining their opinion on pocket money.

The £194,000 price tag of raising a child

The annual survey from insurance and investment group LV= on the Cost of a Child, now in its sixth year, shows that parents could spend £193,772 on raising a child from birth to the age of 21. This is equivalent to £9,227 a year, £769 a month or £25 a day.

East Mid's kids have highest savings in proportion to pocket money

Children living in the East Midlands have the highest savings balances in proportion to pocket money, according to research from Halifax.