Children set for tougher start in life
Starting out in life is never easy but new research shows that today’s parents fear that their children will face a much tougher start out in life then they had.
With little ability to save for their children’s future, research reveals that many parents are struggling to save for their little one’s future and feel the government is not helping them to do so.
The research, conducted across 1,449 KidStart members, revealed that 74% of parents worry that their children will find it hard starting out in life financially.
Almost half (43%) of KidStart’s survey parents claimed the inability to commit to a regular payment to put aside for their child.
- 74% of parents think their children will have a harder start in adult life than they did
- 81% believe the government is not doing enough to support families with children’s savings
- Parents say they are confused by children’s savings options
- But there is help for those families using KidStart
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When it comes to children’s savings, an overwhelming 81% of parents believe the government is failing families by providing inadequate support to help them prepare financially for their children’s futures. That’s according to data released from children’s moneyback service, KidStart who have helped thousands of families save £ millions for their kids.
KidStart Co-founder Julian Robson said: “Kids face a tougher start to adult life than their parents did thanks to the higher costs of renting, buying property and rising tuition fees.” The research also revealed that 75% of parents think securing a good first job will be harder for today’s children.
Lydia Clark, KidStart’s Marketing Director said: “As parents ourselves we know how hard it can be to put money aside for our children’s futures. That’s why we created KidStart - the easy way for you and your family to build a nest egg.”
KidStart members collect up to 20% back on their purchases from over 2,300 well known retailers, including Amazon, John Lewis, eBay, Tesco, Sainsbury’s, TUI, Just Eat and many more.
Members can also invite grandparents to help contribute meaning the whole family can work together to build a nest egg for the next generation. The money collected is saved for the child’s future and KidStart can be linked to a Child Trust Fund, Junior ISA or child’s bank or building society account. Over time the amount saved can add up especially if families use KidStart on big purchases for the home or expenses such as holidays.
KidStart also has an exclusive relationship with Octopus Energy where KidStart members receive 1% back on their utility bills.
As a special offer for Bounty mums, you can get £5 (for a limited time) when you open an account and make your first saving. Genuine new members only and must join from the link below.