Children are using the forthcoming World Cup as a reason to embark upon an encouraging savings blitz, according to a report from the Halifax.

With 52 per cent of those aged between seven and 11, and 36 per cent of 12 to 16-year-olds, believing that this will be England's year, children are feverishly saving to purchase the appropriate commemorative souvenirs such as football shirts, flags and even match tickets.

Those in the older age group will spend an average of £35.81 as the competition unfolds, with their younger peers typically splashing out £19.92. Perhaps unsurprisingly, boys will spend more than girls.

Encouragingly, 45 per cent of children surveyed will save up their pocket money in order to fund these, and similar, purchases.

Peter Jackson, managing director of banking and savings at Halifax, said: "It is encouraging to see that children have a positive attitude to saving and that solid habits are fostered early.

"Children are choosing to save their money in bank accounts so that they can afford expensive purchases, such as World Cup souvenirs and memorabilia."


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