A total of 13% confessed to using the funds because they had no other resources. Equally, a minority of 3% of mums and dads admitted that they never returned the money to their kids.
However, of course money boxes for children remain excellent presents for teaching children to save and to start learning about the value of money. They also make saving fun!
And children could need all the help they can get while the national pocket money budget is currently a weekly tally of £40m, around a quarter of mums and dads have cut down on how much they give their offspring, reports the Tesco Bank. The UK weekly average is £5.80, mostly given in return for help with chores, while the average in London is a couple of pounds higher per week.
Equally, if you thought your choices were still limited to the standard piggy bank, think again. These days, whether you are buying money boxes or a children's music box, it's more possible than ever to find the perfect gift, which you can make unique by personalising it.
A huge array of designs is available, in materials ranging from wood to ceramic and more. If you want to be encouraged to save up for something special yourself, there are even some great designs around for grown-ups too!
Sources: This guest blog post is written by Webmaster of www.booboodesigns.co.uk, offering Children's music box and children's money boxes services!