Children as young as 10 are already saving up for key milestones in their lives such as university, buying their first home or starting a business, a report has found.
The tough economy has produced a generation of financially savvy children, many of whom are more switched on to savings than their parents were at the same age, according to the findings from investment provider Scottish Widows.
With university tuition fees and finding the money for a house deposit still some years away, 11% of children said they had already begun saving towards the cost of college, university or buying a home.
A further 6% said they were saving up for a car – while an entrepreneurial 2% were putting money aside to start their own business.
However, toys, games and gadgets remain children’s saving priorities, with 48% of youngsters saving up for this purpose…