- Children best prepared for adulthood with cultural activities, socialising and financial education
- Santander makes financial education fun with new 1|2|3 Mini Zone for children -
Visiting a museum, hanging out with friends and learning about money are some of the most important life skills children can learn to prepare them for adulthood, a survey of Britain's parents now reveals.
As Britain's schools break up for half term, nearly half (45%) of all parents in the survey for Santander say visiting a museum, art gallery or other cultural activity plays an important part in developing well-rounded children. More than three-quarters (74%) believe children benefit from socialising with friends, but learning about money is seen to be the most important factor in establishing a child's life skills, according to 81%.
Psychologist Donna Dawson says the findings underline the importance of encouraging children to develop a wide range of skills in preparation for adult life. “This research shows parents’ attitudes to those life skills they believe are important for the development of their children outside of school, and much of this will be based on their own life-experience and expectations,” she says.
“Parents want their children to become well-rounded individuals, with a mixture of ‘hard’ skills such as managing money or reading, with ‘softer’ abilities like social interaction and cultural appreciation. To this end, it is vital to instil this mixture in children at an early age, to ensure a strong foundation is created for adulthood.”
Making finances fun for children
To help children learn how to manage their money, and support parents in taking an active role in their children’s financial education, Santander has launched a fun, educational microsite – the 1|2|3 Mini Zone.
The 1|2|3 Mini Zone features a savings calculator tool for children to set and track their savings goals, a Mini Jets game where youngsters collect coins against the clock, as well as helpful information for parents including a guide to financial terms and a video to show them how to use the site.
Sue Willis, Director of Customer Service at Santander, said: “Going out to play during the holidays and visiting different places can be great fun. A lot can be learned from those experiences, having fun while learning at the same time. And that's the aim with the Santander 1|2|3 Mini Zone, where children can learn how to manage money well but have fun too so it really has an impact.”
The 1|2|3 Mini Accounts are available to anyone aged 0 to 18, and reward customers with 1.00% AER on the total account balance from £100, 2.00% AER on the total balance from £200, and 3.00% AER on the total account balance from £300 up to a maximum of £2,000.
Notes to editors
(1) Research conducted among 1,133 UK parents by ICM in September 2014.
(2) Financial education entered the National Curriculum for secondary state schools in England from 1 September 2014. Financial mathematics will be taught in secondary Mathematics at all Key Stages and other aspects of financial capability will be taught in Citizenship in Key Stage 3 and 4. Financial education is now statutory in England, Scotland, Wales and NI.
About the 1|2|3 Mini Accounts
The 1|2|3 Mini is available to open in any Santander branch or through the Santander website http://www.santander.co.uk/. Applications to open the account in trust for a child under the age of 11 must be made in branch. The interest can be earned tax free, subject to the usual HMRC rules. There are no fees or charges on the account. The 1|2|3 Mini is available to open in any Santander branch or through the Santander website (http://www.santander.co.uk/). Applications to open the account in trust for a child under the age of 11 must be made in branch.
The 1|2|3 Mini Zone is the latest initiative added to Santander’s 1|2|3 World, a range of products, services and benefits like cashback and interest, preferential rates and special deals available to more than three million customers.
Santander UK is a leading financial services provider in the UK and offers a wide range of personal and commercial financial products and services. At 30 June 2014, Santander UK serves around 14 million active customers with c. 20,300 employees, almost 1,000 branches and 52 regional Corporate Business Centres. Santander UK is subject to the full supervision of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) in the UK. Santander UK plc customers are protected by the Financial Services Compensation Scheme (FSCS) in the UK.
Extra-curricular activities ranked by the percentage of parents who believe it is important in preparing their children for adult life.
Percentage who believe activity to be important
|Learning about the importance of managing money|
|Practicing key skills such as maths, reading etc. outside of school|
|Socialising with friends|
|Developing hobbies and/or participating in clubs or societies|
|Taking part in sporting activities|
|Understanding computer coding|
|Visiting art galleries, museums and other cultural activities|
|Learning a foreign language|
|Learning a musical instrument|