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The egg that gets bigger every year

As the UK gets ready for a long weekend of indulgence, Chris Kay suggests treating children with a different kind of egg.

At the risk of putting you off your Cadbury’s Creme Egg, apparently every child in the UK receives an average of 8.8 Easter eggs every year. Not only is this enough to make a dentist weep, it’s also double their recommended calorie intake for a whole week.

If your kids are already grown up, like mine, it seems like a staggering amount of chocolate. If you have younger children, perhaps it’s no surprise at all.

In fact, the chocolate sold at Easter makes up 10 per cent of the amount consumed in a year in the UK. So it may come as no surprise to hear that, with all that chocolate for friends and family, the average UK household spends £75 on Easter treats.

If you, like me, are a grandparent, aunty or uncle of younger children you may be thinking of Easter egg alternatives this year; perhaps a toy, clothes or a book?

Well how about a completely different kind of egg: The kind that grows and turns into a first car, driving lessons, or even some funds for college or university?

Helping a young person start their very own nest egg will be of benefit to them long after the chocolate or toy has been forgotten.

Having a savings account makes children more money aware and can encourage them to develop good savings habits as grown-ups.

Putting money aside at Christmas or on birthdays can help them learn to plan for future purchases.

Receiving statements and watching their savings grow can also help children to understand the value of money, especially if they’ve forgone a comic or two to save up for a bigger goal. It also makes them more financially aware, which can only be a good thing.

So before you head off to get a chocolate treat, please consider helping your loved ones develop the altogether healthier, financial, habit of saving.

 

* Chris Kay is CEO at Cambrian Credit Union, which is a community based, financial services cooperative. He has worked in the consumer lending sector for more than 40 years.

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