Boys are better savers than girls, say experts

When it comes to saving money, boys are far better than girls, say experts. According to Halifax, the average boy under 16 has £1,089 in a savings account, while the amount is around £1,037 for girls.

The bank said boys had higher balances than girls in three-quarters of districts across the UK. And the biggest difference was seen in Westminster, where boys set aside £2,027, as compared to £1,661 for girls.

However, older children have generally saved more than younger ones—the average teenager has set aside £1,178, as compared to around £1,024 for children aged 12 or under.

London kids have the highest savings at an average of £1,380, followed by those in Northern Ireland at £1,182 and the Southeast at £1,162.

On the other hand, children in Scotland have put away only around £875, while those in the North-west have saved £961.

“There are wide variations between regions and these reflect, to a large extent, differences in average adult earnings,” the Daily Express quoted economist Nitesh Patel as saying.