The government's child trust fund savings accounts have started positive trend in the UK, an expert has claimed.
A new savings culture is emerging among parents, which the child trust funds have encouraged, stated Family Investments.
The company states that 39 per cent of parents have created other savings accounts since opening a child trust fund.
This rises to 42 per cent for those parents who have opted for a stakeholder option.
Family Investments asserted that it is the market leader in providing the savings accounts, with 360,000 registered so far.
John Reeve, chief executive at the group, commented, "While the scheme is clearly encouraging parents to save, a habit that will be passed onto their children, there is still work to be done to ensure that personal finance education is a priority for parents, both to help themselves and their children in realising the benefits of saving."
Recent statistics from The Children's Mutual revealed that a record number of direct debits were created for child trust fund savings accounts in August.
Child savings accounts starting positive trend, expert claims
Child savings accounts starting positive trend, expert claims
Tue, 10 Oct 2006
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