Pocket Money Savings Survey
A newsurvey from Halifax shows more than half of children save more than they spend
23rd May 2005
A survey of children's savings habits has unturned a prudent approach to finance amongst the nation's young. More than half of children questionedin the Halix survey said they managed to save more of their pocketmoney than they spend, with only 13% admitting to spending the whole lot.
However, it seems that the savings habit is lost with age - over two thirds of 7-11 year olds savedmore than they spent, a figure that drops to 45% in the 12-16 age range.
More than half of young savers, 55%, deposited their savings in a bank account, while 43% used the more traditional piggy bank or money box.
Read More: Money Guardian
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