Parents Could Miss Out on £3,794 by Waiting to Start Children's Savings

Parents could miss out on £3,794 by waiting to start children's savings

Parents typically wait until age five to open a savings account, potentially missing £3,794 in contributions

Parents miss out on £4,000 by delaying children's savings accounts until age five

Starting early can help children meet future money challenges, but most parents wait years after birth to open an account.

Savings mistake could cost YOUR child a £4,000 boost, Skipton Building Society warns

A common savings mistake made by parents and grandparents could cost children across the UK, a leading building society has warned.Skipton Building Society is urging families to open a savings account for their child before they turn five years old.A survey of 2,000 mothers and fathers with children under 18, commissioned by the mutual, revealed that parents typically hold off until their child reaches school age.At an average monthly contributi…

Newborns miss out on £4,000 when parents delay opening accounts

Newborns could be missing out on £4,000 in savings because their parents don't open an account for them until the age of five.