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Scottish children 'most likely to save money in piggy bank'

Press Association logoPress Association 19/04/2017 By Vicky Shaw, Press Association Personal Finance Correspondent
Childwise survey© PA WIRE Childwise survey

Children in Scotland are the most likely in Britain to save money in a traditional piggy bank, research has found.

A survey of eight to 15-year-olds has found that despite being born in the digital age, four-fifths (80%) of children still keep money in a traditional piggy bank or money box.

Young people in Scotland are the most likely to do so, with 87% saying they have piggy bank savings.

This savings method was also particularly popular in the North East of England and Yorkshire and the Humber, where 84% of children surveyed use a piggy bank, the research from Halifax found.

Children living in the South East of England and East Anglia were found to be the least likely to use a piggy bank, with 75% of youngsters surveyed there using one.   

Giles Martin, head of savings at Halifax, said piggy banks remain a "favourite" savings tool for children.

He said: "Whatever the method, encouraging children to regularly put aside a little pocket money is a great way for adults to teach kids about the value of saving."

More than 1,200 children aged between eight and 15 years old took part in the survey.

Here are the percentages of children across Britain who save in a piggy bank, according to Halifax:

:: Scotland, 87%

:: North East of England and Yorkshire and the Humber, 84%

:: North West of England, 79%

:: East and West Midlands, 83%

:: South East of England/East Anglia, 75%

:: London, 79%

:: Wales/South West of England, 78%

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