Parents Admit "Borrowing" Money from Children's Money Boxes
Mums and dads have come clean about being sometimes so broke they have had to take cash from their children's money boxes. A survey from Clydesdale and Yorkshire Banks carried out last year found that more than half of parents whose youngsters are aged between five and 12 admitted taking money that wasn't theirs. A total of 13% confessed to using the funds because they had no other resources. Equally, a minority of 3% of mums and dads admitted that they never returned the money to their kids. However, of course money boxes for children remain excellent presents for teaching children to save and to start learning about the value of money. They also make saving fun! And children could need all the help they can get while the national pocket money budget is currently a weekly tally of £40m, around a quarter of mums and dads have cut down on how much they give their offspring, reports the Tesco Bank. The UK weekly average is £5.80, mostly given in return for help with chores,