German children are educated to save conservatively
Children and money - often a tricky combination. Because dealing with one's own finances has to be learned. While children are becoming increasingly adept at using social media, for example, and are several steps ahead of their parents, the situation is different when it comes to money: Children are raised by their parents to be conservative savers. And the market - especially the established Volksbanks - is missing a huge opportunity.
Old-fashioned savings behaviour
A recent survey of more than 600 parents as well as almost 400 children aged six to 14 has shown that German children are mainly raised to be quite conservative savers: More than 60 percent of parents say that all or at least most of their pocket money is saved and should be saved. The frightening thing: For every second child, the money ends up in the piggy bank! And that's where it stays for the time being, because the children themselves stated that the vast majority of it is put aside for larger purchases.
The motivation behind this behaviour is quickly explained: children learn from an early age that saving is "important". They listen to their parents and think about their future and put money aside quite consciously. So at first glance, one can congratulate the parents, because the educational work seems to bear fruit. The pocket money is not spent immediately ...