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Matthew and Isabella top names when it comes to YBS young savers.

13 October 2017

Oliver and Olivia might have been announced as the nation’s most popular baby names of 2016 by the Office of National Statistics, but it’s Matthew and Isabella that lead the way when it comes to young savers.

Figures taken from Yorkshire Building Society’s One Day children’s savings account[1] show that boys named Matthew had the largest average balance at £13,995. Children called Isabella led the way for girls with the largest average balance at £10,870.

Lauren, Amy and Alice join Matthew and Isabella in the Yorkshire’s top five young savers, while children named Lola, Emma, James, Elizabeth and Nathan complete the top ten.

Overall, according to the Yorkshire, girls were shown to save 26% more money than boys with average savings balances of £6,376[2] compared to £5,070.

The savings data also revealed that young savers are putting away more money now than the previous year with a 14% increase in the amount saved by boys in 2016 compared to 2015, and a 4% increase for the same period amongst girls.

Just two of the top 10 baby names of 2016 make the Yorkshire’s top 10 savings names, Isabella and Jack, while the most popular children’s names in England and Wales last year, Oliver and Olivia, only came 22nd and 43rd respectively.

Louise Halliwell, Senior Product Manager at Yorkshire Building Society, said:

It’s encouraging to see that while baby name trends change over the years, children’s saving habits remain consistently healthy.

Although it’s promising that children’s savings balances appear to be increasing year-on-year it’s important for parents and those involved in a child’s life to continue to encourage children to save from an early age. It’s a good lifetime habit to get into and done in the right way, saving can be fun and rewarding for children.

Whether it's earning pennies from doing simple household chores or putting some celebration money away, sitting down with them to work out how long and what it will take to save for the latest toy for example helps teach children about the value of money and benefits of saving.

Educating children about the contrast of spending and saving can go a long way to helping the next generation of savers have a more financially secure future, and it’s never too early to start those conversations and habits.

 

ENDS PR63-17

Notes to Editors

The tables below show the top 10 boy and girl savers at the Yorkshire in 2016:

Ranking

Boy’s name

Average balance at 31 Dec 2016

 

Ranking

Girl’s name

Average balance at 31 Dec 2016

1

Matthew

£13,955.19

 

1

Isabella

£10,870.15

2

James

£6,063.54

 

2

Lauren

£7,703.71

3

Nathan

£5,381.71

 

3

Amy

£7,406.56

4

Theodore

£4,522.03

 

4

Alice

£7,153.84

5

Alexander

£4,213.32

 

5

Lola

£6,509.79

6

Jude

£3,984.63

 

6

Emma

£6,075.33

7

Adam

£3,592.20

 

7

Elizabeth

£5,477.75

8

Henry

£3,344.42

 

8

Eva

£4,227.75

9

William

£2,892.52

 

9

Scarlett

£4,218.20

10

Jack

£2,760.05

 

10

Eleanor

£4,118.94

 

 

 

 

The table below shows the top ten boys and girls names for 2016 from the Office of National Statics, and where they rank amongst the Yorkshire’s young savers during 2016.

Boy’s name

YBS ranking

Average balance at 31 Dec 2016

 

Girl’s name

YBS ranking

Average balance at 31 Dec 2016

Oliver

22nd

£1,623.38

 

Olivia

43rd

£863.92

Harry

13th

£2,379.12

 

Amelia

41st

£874.45

George

26th

£1,321.82

 

Emily

36th

£1,046.73

Jack

10th

£2,760.05

 

Isla

55th

£504.06

Jacob

29th

£1,207.40

 

Ava

48th

£654.42

Noah

38th

£932.20

 

Isabella

1st

£10,870.15

Charlie

27th

£1,224.01

 

Lily

61st

£410.63

Muhammad

46th

£699.02

 

Jessica

28th

£1,466.94

Thomas

16th

£2,199.96

 

Ella

40th

£877.49

Oscar

32nd

£1,079.65

 

Mia

34th

£1,088.58


 



[1]Young savers  Figures are for children’s names with at least 10 accounts.

[2] Average of the Yorkshire’s top ten girls’ average balances compared with the average of the top ten boys average balances.

 

 

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