A New Royal Arrival: The practicalities of parenting
Tuesday, May 5, 2015
Congratulations to William and Kate on the birth of their daughter, Princess Charlotte! As they settle their new baby in to the royal household, we take a look at what’s changed since Prince William and Prince Charles were born – from top toys to the most popular names and parenting highs and lows.
Download a PDF of our Born to be Queen? guide to what's changed over the 3 generations of royal babies
Modern parents would baulk at the prospect of washing their baby’s terry nappies in a copper and being restricted to three TV channels, while previous generations might struggle to relate to a Minion and may wonder about the usefulness of warm wet wipes.
However, one thing holds true for every generation. Parents want to be in a position to help their children through the big milestones in life.
And as a result of this, many parents are saving specifically to help their children. In fact, our Saving for Children survey found that nearly three quarters of parents and grandparents – 73% – are saving, or intend to save, for their own little princess (or prince). Of those, 65% had started, or planned to start, saving, in the child’s first year.
Most (59%) are saving up to £20 per month, while the highest figure quoted was £200 per month. In most cases, this money is being saved into savings plans or accounts under the child’s name, with just 24% of parents or grandparents saving for children under their own name.
Our research shows that a significant majority of parents and grandparents not only want to help their children through the milestones in life, but also are actively saving every month to achieve this. Perhaps William and Kate don’t need to save in the same way that most parents do, but they’ll want to support their new baby through her milestones, too.
Source: Foresters Friendly Society - Saving for Children Survey 2014
This blog is intended to provide information, not financial advice, to help you make an informed decision about savings and investments. We do not offer financial advice. You should contact a financial adviser, who may charge a fee, if you want financial advice.