Kids Keeping Up With The Joneses

    MANCHESTER, ENGLAND, March 18, 2011 /24-7PressRelease/ -- Halifax Savings research has shown that children in Wales have the highest ownership levels of games consoles and mobile phones across the nation and also spend the most amount of money on computer games and equipment.

They also do extremely well when it comes to owning an iPod or MP3 player and only fall down slightly on music downloads and mobile phone expenditure.

A full house for Welsh gamers
100% of the children surveyed in Wales owned a games console, well above the national average of 91%.

Children in Wales also spent the highest amount of money on computer games and equipment. At GBP15.24 a month this is almost GBP5 more than the next highest spenders, Yorkshire and the Humber (GBP10.62) and London (GBP10.56), and is well above the national average of GBP9.73. Children in East Anglia spent the least amount at GBP8.01.

At a national level, it should also come as no surprise that more boys (95%), than girls (87%) own a games console and that they (GBP11.56) spend more than girls (GBP7.77) on computer games and equipment each month.

Welsh kids take the lead on mobile phones
The majority of children in Wales own a mobile phone (94%) compared to only eight-tenths (80%) at a national level. Mobile phone ownership is lowest in Scotland (75%), followed by South East (76%) and South West and West Midlands (78% respectively).

However, it is children in London, not in Wales, that have the highest phone bills at GBP11.55 a month, followed by the East Midlands at GBP10.35. Welsh children spend GBP9.50 a month, which is still above the average of GBP9.18, but the lowest bills are in the South West (GBP7.00) and North East (GBP7.91.)

At a national level, mobile phone ownership and bills increase as children get older. 94% of children aged 12 to 15 currently own mobile phones, compared to only 66% of 8 to 11 year olds. The bills are also higher for older children at GBP10.45 a month, compared to only GBP7.02 for younger children.

The cost of calling
When it comes to footing their monthly mobile phone bills, one-fifth (21%) take financial responsibility for this themselves, but the majority (72%) leave their parents or guardians to pay the bill.

Welsh kids fall behind in the download era
Almost three quarters of children (71%) own an iPod or MP3 player. Children in Wales again do very well with ownership levels increasing to 76%, only slightly behind children in South East (78%) and London (77%.)

Two-fifths of children (44%) also download music from the internet although this is much more popular amongst the older children, aged 12 to 15 (56%), than with the 8 to 11 (31%) year olds.

It is here that children in Wales fall slightly behind, with only two-fifths (41%) downloading music from the internet. More than half of children in Yorkshire and the Humber (54%), as well as in London (53%) download music, compared to just over one third in South West (36%) followed by East Anglia (38%) and West Midlands (39%).

Across the nation, an average of four (3.77) tracks are downloaded per week per child. Again, children in Wales fall below average with three (2.67), with only the South West (2.48) and South East (2.33) performing lower. Children in London download the most tracks at six (5.60).

Overestimating the cost of iTunes
It would appear that the majority of children do not know the real cost of iTunes downloads, with the guess of GBP1.84 almost double the cost of 99 pence. This figure rose to GBP2.40 in the North East and GBP2.30 in East Anglia. In comparison it was claimed to be as low as GBP1.19 in East Anglia and GBP1.29 in Wales.

Flavia Palacios Umana, head of savings products at Halifax, said: "Children in Wales certainly do extremely well when it comes to owning the latest 'must have' technology. Having paid for the equipment in the first place, the majority of parents will also be footing the bill for computer games and music downloads, as well as other accessories and services.

"However, it is very pleasing to see that some children are taking responsibility for their own mobile phone bills. Managing expenditure and saving money to pay the bills are good habits to learn and will instill a firm foundation for a healthy savings habit in years to come."

Note to Editors

Research carried out by tns from 26th August to 2nd September 2010. 1204 children across Great Britain aged 8 to 15 were interviewed.

The price of iTunes was GBP0.99 on 26th October. Source: www.apple.com/iTunes

Halifax Children's Regular Saver
Halifax Children's Regular Saver is available for adults saving on behalf of children under 16, with one account per adult on behalf of each child allowed. Earning a rate of 6.00% ER/gross p.a. fixed for one year, you can save between GBP10 and GBP100 each month, for 12 months. Once the twelve month term is up, the money saved and the interest earned will be automatically transferred into your nominated account, or a Halifax save4it account.

Website: http://www.halifax.co.uk

Save4it
Save4it is a passbook pocket money savings account designed especially for children up to 16 year olds. Accounts can be opened with as little as GBP1 and the maximum balance is GBP5,000. Interest is payable annually on any chosen day (e.g. birthday). The current interest rate is 1.05%

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