Despite a continued squeeze on household finances felt by parents in particular, the majority continue to save for their children. Simultaneously, children exhibit a strong desire to save, revealing an opportunity for providers to support parents in offering the necessary guidance to the new generation of young savers.
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Report scope and product definitions Abbreviations
The market Children’s savings accounts and CTFs are the most popular products Figure 1: Children's savings products, March 2014 Market factors Family finances remain squeezed Growing childbirth rates Regulatory changes in the children savings and investment market Companies, brands and innovation Main retail banks dominate cash savings market 24% decline in adspend on children’s savings and investment products NatWest and RBS bring back children’s piggy banks and launch fun app Nationwide simplifies its children’s savings product range Family Investments making children financially fit for the future.
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