Jan 29 2008
Dramatic changes have taken place in the nation's household spending habits, according to the latest annual Family Spending report from the Office for National Statistics.
The study highlights the fact that homes with children tended to spend more than those without youngsters around, such as many households consisting of retired individuals.
Properties with children and three or more adults spent the most during 2006, with an average outgoing of £700 per week.
Furthermore, over the same time period, 83 per cent of homes with kids present had facilities such as a cable, digital or satellite receiver, compared to 66 per cent of homes without children.
With such spending taking place for children, grandparents wishing to help parents put funds aside for their children might like to investigate placing money in a child trust fund.
In related news, figures from Norwich and Peterborough Building Society suggest that regular savers put aside over £1,300 per year for their children's futures.
