Mar 9 2007
Government proposals to use child trust funds (CTFs) as a tool for teaching financial education in secondary schools have been welcomed.
Financial services provider Co-operative Insurance, which has experienced a strong response to its CTF initiative, indicates that moves such as these will "stimulate children's interest in saving for the future".
Other ways in which parents can foster children's interest in personal finance matters include taking them supermarket shopping on a budget and getting them to keep an expenses diary, according to the group.
Zack Hocking, head of saving and investments at Co-operative Insurance, commented: "We are delighted with the continued success of the child trust fund."
She added that the government's ideas could help encourage youngsters "to carry on their savings habits into adulthood".
CTFs were established to allow families to start savings accounts for their children at birth, which are accessible when they reach 18 years old.
