When you first find out you are expecting your baby, your attention often turns to what your baby will need when they arrive, the clothes, travel system and other baby essentials. One thing that can often be overlooked is saving for your baby’s future – but there is an easy way.
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 today from leading children’s moneyback service, KidStart who have helped thousands of families save £ millions for their kids.
The research, conducted across 1,449 KidStart members, also revealed that 74% of parents think their children will have a harder start in adult life than they did. KidStart Co-founder Julian Robson says, “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.
Almost half (43%) of KidStart’s survey respondents claimed the inability to commit to a regular payment as a key deterrent to considering an account for their child.
“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,” says Lydia Clark, KidStart’s Marketing Director.
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 children they love. 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.
To learn more about how KidStart can help your family save click here.