Four in 10 kids rely on parents rather than own savings to buy expensive things: Straw poll

When it comes to buying something expensive, many kids here rely on their parents rather than saving for it. -- ST FILE PHOTO: WANG HUI FEN
When it comes to buying something expensive, many kids here rely on their parents rather than saving for it. -- ST FILE PHOTO: WANG HUI FEN

When it comes to buying something expensive, many kids here rely on their parents rather than saving for it.

A straw poll of 55 primary school pupils found that 42 per cent of them do not consider saving up towards an expensive item. This was even though all 55 of them do not finish spending their daily pocket money.

The poll was conducted recently by the North East Community Development Council (CDC) to find out more about the saving habits of children aged between seven and 12.

In the light of such spending attitudes among children, the CDC and POSB will hold a budgeting workshop at Punggol Primary School on Aug 17.

It is aimed at helping children - particularly those from low-income families - learn the importance of managing their money.

This programme will be rolled out to eight other divisions in the North East district in the coming months, and will reach 800 children.

yunitaso@sph.com.sg