Overview

• Survey finds 30 percent of parents set aside money for their children every month, while 41 percent do not save at all for their offspring.
• Among non-savers, 35 percent cite insufficient funds and 21 percent believe children should start earning their own money at age 18.
• Of those who save, 35 percent contribute up to €50 per month, 25 percent save €50–100, 16 percent put aside over €100 and 19 percent do so irregularly.
• Almost 40 percent of parents keep children’s savings in cash or a piggy bank, 28 percent use a current or instant-access account and 16 percent opt for fixed-term deposits.
• Only 28 percent invest in funds or ETFs despite advisors emphasizing the advantages of compounded returns and protection against inflation.