It’s not just parents who are worrying about the cost of living crisis – now children are, too. With more than half of UK parents unable to contribute to their kids’ financial future, and many families slipping into debt, children as young as eight are now taking matters into their own hands by starting to save up for house deposits and university fees.
Research published in the GoHenry Youth Economy Report last month found UK kids are saving more than ever. The survey of nearly 750,000 children found that 42% are more likely to start saving early to fund big life events, and around one in five (19%) of 16 to 18-year-olds do not expect their parents to provide any financial help.
Here, we meet three switched-on, cash-canny kids, who are saving up for a brighter future…
‘I’m saving to care for my disabled brother’
Theo Grice, nine, lives in Doncaster with his mum Bibi, 29, a nursing student, dad Ben, 33, a full-time carer, and siblings Benny, 10, Belle, six, and Nate, two. He has already put away £75 this year, and has saved £320 in total.
“Watching Homes Under The Hammer in the school holidays has made me want to buy a council house, as it’s a little cheaper and I could rent it out for good money,” says Theo. “I get £2 pocket money a week, plus 50p for tasks like tidying my room, doing my reading and brushing my teeth.
“It was my idea to save my pocket money. I want to make lots of money so I can take care of my family, including my disabled brother.”
Diese Geschichte stammt aus der September 18, 2023-Ausgabe von New UK.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 18, 2023-Ausgabe von New UK.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
'IT'S THERAPY ON ANOTHER LEVEL'
Hollyoaks actress Jennifer Metcalfe opens up on how the emotional storyline of her character Mercedes going through bowel cancer is helping her deal with losing her father to the same cruel disease
Teacher used school funds to pay hitman to kill his pregnant lover
When Jocelyn Peters bought potatoes, she didn't know one would be used to help murder her
'We held a joint funeral for my husband and my baby son'
Rhian Mannings, 47, tragically lost her son George at just one year old, and five days later her husband Paul was dead too
'I'd like to get married and so would Roger'
My Mum, Your Dad lovebirds, Roger and Janey, tell new about their 'lucky' connection and plans for the future
'You forget you're on TV, so it's very raw'
Celebs Go Dating's Chris Taylor and Tristan Phipps reveal why the experts' advice made them so emotional
Meghan 'hopes for new start with Kate'
Following the Princess of Wales' poignant cancer update, the Duchess of Sussex is reportedly ready for a reconciliation
Will Cat stay at This Morning?
Cat Deeley has faced criticism since joining the ITV daytime show, and a source tells new she wouldn't hesitate about quitting
'This is the best present could give my mum'
TOWIE favourite Gemma Collins solves a family mystery – and also discovers a surprising link to Jack The Ripper
Alison 'couldn't be happier'
Presenter Alison Hammond is loved-up and looking fabulous, and is more content than she's ever been, a source tells new
Molly set to 'make millions'
She's \"still hurting\" following her split from Tommy Fury, but Molly-Mae Hague is said to be looking to the future with an exciting new venture