DUBLIN, Ireland—The Irish League of Credit Unions has wrapped up its annual “National GR8 Savers Week,” which is aimed at encouraging parents to spend time talking to their children this week about being sensible with money.
In launching National GR8 Savers Week, the ILCU pointed to a 2015 Teens & Money survey it had commissioned that showed seven-in-10 teens get pocket money from their parents, and of those 74% receive it on a weekly basis (with 18% of teens receiving more pocket money than 12 months ago). The survey found 75% save approximately a third of that money, with 51% saving with their local credit union. Forty-five said they are saving money to buy a new phone /or computer,
“With the majority of children receiving pocket money it has never been so important that parents play a role in assisting children to develop a savings habit,” the Irish league said in a statement. “There is great potential here to further develop the idea of educating children to be sensible with money.”