School's Back In!

More than four in ten (44%) parents or grandparents who save money for their children or grandchildren in GB do so to pay for their school or university fees. This was by far the most widespread reason for saving for children.

Other reasons for saving for children are equally practical. One in ten (10%) say they are saving so their children will have a deposit for their first house. A tenth (10%) are saving for a wedding and eight per cent are saving either for a car / driving lessons or to allow their children to start their own business. Only two per cent say they want to fund world travel and one per cent say "anything else they might want".

Technical details

The research project was undertaken by MORI Financial Services between the 1st and 6th August, 2002. 1130 British adults were asked their opinions on saving for children or grandchildren.