BUMP UP THE SAV­INGS

Mother & Baby (Australia) - - The Buzz -

As the cost of liv­ing rises and rais­ing a fam­ily gets more ex­pen­sive, think­ing about a fi­nan­cial plan for the fu­ture can help your kids get a fi­nan­cial head start. To mark its 200th year in busi­ness, West­pac is giv­ing away $200 in a sav­ings ac­count for all ba­bies born this year, as part of their new ‘Bump’ ini­tia­tive. Re­cent find­ings from the West­pac Fi­nan­cial Fu­ture Re­port found that only 71 per cent of Aussie chil­dren un­der five have a sav­ings ac­count, yet 86 per cent of par­ents and grand­par­ents agree that open­ing a sav­ings ac­count early on helps lit­tle ones be more fi­nan­cially suc­cess­ful. It’s never been a bet­ter time to start!

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