Nov 22 2005
Godparents are playing an active role in their godchild's future by helping boost their savings, says National Savings & Investments (NS&I).
NS&I found generous godparents invest £350 million every year in a nest egg for their godchildren, shunning traditional gifts such as jewellery and other treats.
Marketing director at NS&I, Karen Jones, commented: "Being a godparent is a position of responsibility and presents an ideal opportunity to give a helping hand to future generations.
"Almost one in five godparents are choosing to give financial products or savings as gifts to introduce and encourage good savings habits."
A survey by NS&I found British godparents spend, on average, £86 on gifts when their godchild is born and a further £82 on Christmas and birthday presents every year.
Regionally, godparents in London are most likely to give financial investments as gifts, while Scots help out financially but also like to give toys at birthdays and Christmas.
Meanwhile, the Welsh are most likely to give cash gifts and those in the north-west look after their godchild's intellectual future by giving books as gifts.
NS&I says godparents can give "a real boost" to the security of their godchild's future by investing money which could potentially help them buy a house or go to university.
© Adfero Ltd
