Boys are better savers than girls

London: When it comes to saving money, boys are far better than girls, say experts. According to Halifax, the average boy under 16 has £1,089 in a savings account, while the amount is around £1,037 for girls.

The bank said boys had higher balances than girls in three-quarters of districts across the UK. And the biggest difference was seen in Westminster, where boys set aside £2,027, as compared to £1,661 for girls.

However, older children have generally saved more than younger ones—the average teenager has set aside £1,178, as compared to around £1,024 for children aged 12 or under.

London kids have the highest savings at an average of £1,380, followed by those in Northern Ireland at £1,182 and the Southeast at £1,162.

On the other hand, children in Scotland have put away only around £875, while those in the North-west have saved £961.

“There are wide variations between regions and these reflect, to a large extent, differences in average adult earnings,” the Daily Express quoted economist Nitesh Patel as saying.