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Parents raid kids' piggy banks of £50

By Vicky Shaw

Piggy bank-raiding parents are plundering nearly £50 a year from their children's savings, a survey has found.

The poll of parents with children aged between four and 16 found three-fifths (60%) of mums and dads admit to dipping into their offsprings' savings.

The average amount taken by parents over a year is £46.20, according to the research from Nationwide Building Society.

Paying the school lunch money, needing loose change for parking and covering school trips are the most common reasons.

And more than a third (34%) of parents do not always pay the money back.

A quarter (25%) owe their children £25 or more, while one in 20 (5%) admit to being in debt to their child to the tune of £100 or more.

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