Playgrounds full of savers and debtors

Chris Wheal

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school children
school children

Kids save more than their parents' generation with nine out of ten saving money, but one in five (18%) of 11-16 year olds owe cash to friends and family, with the average amount owed at £19 giving a total playground debt of £15m.

The Santander 123 Mini study, which questioned 11-16 year olds about their saving and spending habits, found that one in eight (12%) children believe owing people money is "normal", raising concerns that Britain's youngsters are becoming comfortable with debt.