More Parents Saving for their Kids
Nearly 75% of parents are putting money aside for their kids' futures
28th October 2005
A new report by Mintel International reveals that more parents than ever before are putting money into savings to help pay for their child's future.
In the survey of 2000 parents, it was found that nearly three-quarters with children under 14 years were putting at least some money aside. A total of 5.7m parents now save, up nearly a million from 2003.
Grandparents were also contributing, with 5% saving when they could afford to, and 6% regularly.
Increased costs of higher education and first homes were given as reasons for the increased savings levels, although it's also possible that the recent launch of so-called baby bonds may have increased parents' awareness of the importance of savings in general.
Read More: BBC : Parents focusing on child savings
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