Boring kids are saving for university - aged 10
The austerity generation is already saving for university, even from the age of 10, according to a survey by Scottish Widows. While previous generations were discovering their genitalia and thinking about Pogs, today’s youngsters are apparently financially prudent and putting money aside for the future. YAWN.
Spurred on by the financial crisis, 98% of 10 year olds regularly put money away for a rainy day, while 7 out of 10 kids knew what a pension was. Average pocket money rates currently come in at around £5 to £9 a week, and most kids put a portion of that in their savings accounts. 11% of hopeless nerds said they were specifically saving for university or to buy their first home (yeah, good luck buying a house with 50p and a piece of fluff, kids.)
These worrying levels of sensible behaviour could mean an entire generation of joyless Millhouses, hellbent on financial security and unable to live in the moment. Luckily, though there is light at the end of the tunnel. As well as worrying about their pensions, 48% of kids admit they’re going to use their savings to buy Hex Bugs, fart putty and Star Wars Lego. Phew.