Parents are raiding their children’s piggy banks to pay bills, a survey has found. Thirty per cent of parents with children under 18 have taken or borrowed money from their child’s piggy bank or savings account, research from Moneysupermarket.com, the comparison service, found. One in eight “piggy bank raiders” borrow from their children at least once a week and the average amount taken is £50.26, although 16pc admitted to taking at least £100 from their child. A fifth admitted to taking the cash because their children were too young to notice it missing. Children receive an average of £5.98 in weekly pocket money, which adds up to more than £300 in a year. It’s a sizeable amount, so it’s easy to see why parents may be tempted to put this towards everyday living costs.
Three in 10 parents ‘raid their children’s savings’
