Child Trust Fund provider the Children's Mutual has announced that 4.4 million parents are now making tax-efficient savings for their offspring's future.
The firm believes that the figure is a sign of a "continuing revolution" in savings for children and will mean that they will have a greater understanding of finances when they grow up.
On average, parents who put savings into a Child Trust Fund with the organisation are setting aside £24 a month, which could add up to £9,750 by the time the youngster reaches 18 years old.
David White, chief executive of The Children's Mutual said: "Our research shows that despite the recession we are currently experiencing, parents still feel that saving for their children and giving them the best future they can is very important."
The Tax Incentivised Savings Association recently found that parents increased the average amount they put into Child Trust Funds as a lump sum by £9 in the last quarter.
Millions make savings with the Childrens Mutual
Financial Services > Saving Accounts > News
Millions make savings with the Childrens Mutual
Thu, 02 Jul 2009
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