If you've ever shamefacedly contemplated dipping into your child's piggy bank, you are not alone. Yorkshire Bank says that more than a million parents are prepared to raid their offspring's post-Christmas booty to help them through the cash-tight month of January.
With parents having to stretch their December salaries through the Christmas season and sale period until the end of January, just under 50 per cent of parents view this month as the most financially trying. Meanwhile, children are stashing away a festive windfall totalling £2.2bn, with each child typically receiving over £190 in Christmas present money from relatives. Only one in four parents will encourage their children to save this money - while one in eight admit they will end up 'borrowing' the money themselves.
Source: Huma Qureshi, The Observer
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