Oct 14 2008
Children residing in the greater London area of Harrow have the healthiest savings in the UK, it has been found.
In news which may be of particular relevance to parents concerned about saving for their children, youngsters in the town were identified by Halifax has having an average balance of £2,193.
The bank also discovered that the London boroughs of Brent and Barnet were placed second and third in terms of the amount of savings in children's accounts, at £1,927 and £1,896 respectively.
Commenting on the findings, Martin Ellis, chief economist at Halifax, said: "Saving at an early age helps play an important part in your child's future; learning savings habits early on in life can help ensure young people understand the value of having savings."
In other news, HM Revenue and Customs figures released earlier this month revealed that number of Child Trust Funds vouchers being placed by parents has continued at a steady rate, with 72 per cent of vouchers placed within a year of issue.
