May 11 2006
It seems a passion for football is encouraging a passion for saving as the UK’s youth eagerly prepare to follow the World Cup this summer, according to new figures.
Over half of all UK children aged seven to 11 believe England will win the tournament sparking a race in young investors to save for must-have football souvenirs such as shirts, flags and the elusive ticket to the game.
With children aged 12 to 16 planning to spend on average £35.81 on memorabilia, and many recognising mum and dad cannot afford to pay, 45 per cent have said that they will save up their pocket money to afford special items.
Peter Jackson, managing director of banking and savings at Halifax, said: 'It is encouraging to see that children have a positive attitude to saving and that solid habits are fostered early. Children are choosing to save their money in bank accounts so that they can afford expensive purchases, such as World Cup souvenirs and memorabilia.'
Nearly three-quarters of the nations 12 to 16-year-olds (73 per cent) and 30 per cent of seven to 11-year-olds save their money in a bank account.
