Dec 18 2008
A significant number of UK consumers intend to contribute to child savings accounts this Christmas, it has been suggested.
According to research conducted by Halifax, 36 per cent of people questioned reported that they would consider opening a child saving account as a gift over the festive season,
Meanwhile, 31 per cent reported that they or their relatives put money into such an account each year, people saving for children may be interested to hear.
Residents of London were found to be the least likely to contribute to a child savings account, with 25 per cent of people questioned in the capital expressing such an intention.
"It is ... encouraging that friends and families are opening and funding savings accounts for their children/grandchildren. By involving children in this process it can build healthy saving habits that will play an important part in their future," stated Ken Stannard, head of Halifax savings.
Research conducted recently by Family Investments found that more than half of parents would rather grandparents invested in child's saving accounts over the festive period than give other gifts.
