Kids to get half-term short-term solutions
Parents are getting ready to splurge up to an extra £571.5 million on unhealthy treats for their children this half term in an attempt to keep them entertained during the school holidays.
According to new research carried out by Yorkshire Bank as part of the development of its Child Savings Bond - a five-year fixed rate children's bond paying a market leading rate of 5.0% gross/AER and available for as little as £50 - nine out of 10 parents will spend extra money on DVDs, video games and fast food to indulge their kids next week.
Despite this, one in 10 (9%) parents admit that their children would be bored and lose interest in the game or film before the week is out.
Stephen Porter, senior marketing manager at Yorkshire Bank, said: "Parents often feel at a loss for what to do with their children during the holidays and give in to pleas for computer games and DVDs. This is despite knowing that sitting in front of a TV or computer isn't really the best way for their children to spend the whole holiday."
"We're not saying don't treat the kids next week, but why not think about the longer term benefits and better ways for you to use the money where your children really will appreciate it more in the future."
"Looking at cheaper treats and investing the money you would otherwise spend on things like computer games into savings for your child's future could prove a much wiser way to benefit your child."
Take care of the pennies and the pounds will look after themselves
Yorkshire Bank's research found almost half (46%) of parents think children today do not appreciate the value of money. However, only one in five (21%) encourage their child to save a significant proportion of their cash.
Aimed at parents and grandparents, Yorkshire Bank's five-year Child Savings Bond is an ideal way to give a kick-start to a child's future prosperity.
Stephen Porter added: "Many parents understand the financial pressures of life and want to be able to give their children a helping hand when they're older, whether it is to buy their first car or send them to university. By planning now while they are younger, parents will be able to benefit when it comes time for their children to take care of their own money."
Couch potatoes
Plans for the school holidays will also see children glued to screens and eating junk food, according to the research. One in five (20%) parents are planning to buy their child DVDs or video games to keep them entertained and one in three (34%) will take them for fast food, pizza and burgers.
Stephen Porter said: "Parents often buy expensive games and treats for their children when what they'd really like is to spend quality time with their parents - and this needn't cost a fortune. A trip to the park with a football or Frisbee doesn't have to cost anything and it gets children outdoors enjoying the healthier things in life."
Strapped for cash
Yorkshire Bank's research found almost one in three (31%) parents worry that their child will be short of money when they are older but few have got their children into the habit of saving. Less than half (43%) of children have a piggy bank that they add to on a regular basis.
Stephen Porter added: "It's important children learn how to be savvy savers from an early age. Parents also want to be sure their offspring will be financially secure when they come to fly the nest. Instead of splashing out on expensive new computer games, which children can often lose interest in before the week is out, we'd encourage parents and grandparents to put the extra money to good use for their child's future."
"Indeed, our research shows that more than one in three (37%) parents wish their friends and family would put money into a savings account for their child rather than buy them expensive toys and games."
Activities that don't cost the earth
To help parents plan their half term with the children without forking out the cash, Yorkshire Bank has compiled a top list of inexpensive, healthy activities for the children to do next week so the extra cash can be invested for their future:
Invite your children's friends round and plan a treasure hunt around the house and garden
Take a football, Frisbee or other game to the park for a kick-about
Go for a bike ride - more and more cycle paths are popping up making it safer for cyclists
Local authority leisure centres are great for family swimming and during the holidays often have large inflatables for children to play on
Encourage your children to have a rout through their cupboard - they are sure to unearth long forgotten games and toys.
Parents are getting ready to splurge up to an extra £571.5 million on unhealthy treats for their children this half term in an attempt to keep them entertained during the school holidays.
According to new research carried out by Yorkshire Bank as part of the development of its Child Savings Bond - a five-year fixed rate children's bond paying a market leading rate of 5.0% gross/AER and available for as little as £50 - nine out of 10 parents will spend extra money on DVDs, video games and fast food to indulge their kids next week.
Despite this, one in 10 (9%) parents admit that their children would be bored and lose interest in the game or film before the week is out.
Stephen Porter, senior marketing manager at Yorkshire Bank, said: "Parents often feel at a loss for what to do with their children during the holidays and give in to pleas for computer games and DVDs. This is despite knowing that sitting in front of a TV or computer isn't really the best way for their children to spend the whole holiday."
"We're not saying don't treat the kids next week, but why not think about the longer term benefits and better ways for you to use the money where your children really will appreciate it more in the future."
"Looking at cheaper treats and investing the money you would otherwise spend on things like computer games into savings for your child's future could prove a much wiser way to benefit your child."
Take care of the pennies and the pounds will look after themselves
Yorkshire Bank's research found almost half (46%) of parents think children today do not appreciate the value of money. However, only one in five (21%) encourage their child to save a significant proportion of their cash.
Aimed at parents and grandparents, Yorkshire Bank's five-year Child Savings Bond is an ideal way to give a kick-start to a child's future prosperity.
Stephen Porter added: "Many parents understand the financial pressures of life and want to be able to give their children a helping hand when they're older, whether it is to buy their first car or send them to university. By planning now while they are younger, parents will be able to benefit when it comes time for their children to take care of their own money."
Couch potatoes
Plans for the school holidays will also see children glued to screens and eating junk food, according to the research. One in five (20%) parents are planning to buy their child DVDs or video games to keep them entertained and one in three (34%) will take them for fast food, pizza and burgers.
Stephen Porter said: "Parents often buy expensive games and treats for their children when what they'd really like is to spend quality time with their parents - and this needn't cost a fortune. A trip to the park with a football or Frisbee doesn't have to cost anything and it gets children outdoors enjoying the healthier things in life."
Strapped for cash
Yorkshire Bank's research found almost one in three (31%) parents worry that their child will be short of money when they are older but few have got their children into the habit of saving. Less than half (43%) of children have a piggy bank that they add to on a regular basis.
Stephen Porter added: "It's important children learn how to be savvy savers from an early age. Parents also want to be sure their offspring will be financially secure when they come to fly the nest. Instead of splashing out on expensive new computer games, which children can often lose interest in before the week is out, we'd encourage parents and grandparents to put the extra money to good use for their child's future."
"Indeed, our research shows that more than one in three (37%) parents wish their friends and family would put money into a savings account for their child rather than buy them expensive toys and games."
Activities that don't cost the earth
To help parents plan their half term with the children without forking out the cash, Yorkshire Bank has compiled a top list of inexpensive, healthy activities for the children to do next week so the extra cash can be invested for their future:
Invite your children's friends round and plan a treasure hunt around the house and garden
Take a football, Frisbee or other game to the park for a kick-about
Go for a bike ride - more and more cycle paths are popping up making it safer for cyclists
Local authority leisure centres are great for family swimming and during the holidays often have large inflatables for children to play on
Encourage your children to have a rout through their cupboard - they are sure to unearth long forgotten games and toys.
posted by tony at 8:20 PM
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