Sep 22 2008
UK parents are willing to spend considerable sums on their offspring in order to ensure they do not miss out, it has been found.
According to a survey conducted by National Savings and Investments (NS&I), many parents are prepared to go into debt and make personal sacrifices as a means of providing their children with the best opportunities.
It was also found that consumers are looking to save more money, potentially in cash individual savings accounts (Isas.
NS&I stated: "The population is hoping to save more than ever before, possibly in an attempt to accumulate a more substantial savings 'pot' to increase financial security."
Recently, research analyst Defaqto advised consumers - potentially including those interested in saving for their children - to use their full Isa allowance in order to avoid paying tax on their interest, adding that the internet can be used as a means of locating the best deals on such accounts.
