Some 55 per cent of adults believe that children should be contributing toward savings before the age of ten, according to new research.
Furthermore, one-third believe that youngsters should have accrued more than £2,000 in a savings account by the time they reach 18 years old, an ICM Financial study, cited by Bradford & Bingley shows.
Many adults believe that children should making savings for their future, with a car, university fees and a deposit on a mortgage topping the list of saved-for items.
More than 50 per cent of parents believe that it is their offspring's responsibility to make adequate savings to afford their first car.
Steve Potter, head of savings at Bradford & Bingley comments: "Whatever the motivation, it's clear that today’s parents are actively encouraging their children to save for their future.
"Our survey suggests that two out of three children are saving and 48 per cent of respondents believe that their children save more than they did at their age."
A recent study by The Children's Mutual revealed that August saw a record number of direct debits created for child trust fund savings accounts.
Parents expect better savings from children, study shows
Parents expect better savings from children, study shows
Tue, 03 Oct 2006
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