High-interest savings platform Flagstone conducted a new survey to discover exactly how much UK cities are saving for their children, with some interesting results.
Belfast parents save on average £16,427 for their children. This is nearly £2,000 below the national average (£18,212).
Despite this, Belfast tops NatWest’s Savings Index with a score of 62% – the highest of any UK city. The index ranks how informed people feel about saving. This statistic is supported by our study, as nearly a third of Belfast-based parents save between £5,000 and £9,999 (30.8%) for their children.
This is the highest proportion of parents saving this amount in any UK city. It’s also well above the national average of 21.3%.
Top three savings amounts in Belfast
| Amount (£) | Percentages (from highest to lowest) |
| £5,000 – £9,999 | 30.8% |
| Nothing | 26.0% |
| £20,000 – £29,999 | 18.0% |
So, what are Belfast parents saving for?
For 37.9%, these savings will go towards helping their children buy a home. This is hardly surprising, given Belfast house prices rose by 7.8% between Q1 2024 to Q1 2025. Close behind, 34.5% say their priority is helping their children buy their first car.
More than half of the Belfast parents (55.2%) keep their savings plans secret from their children. The biggest reason? Their kids are too young to understand (31.0%). Others feel their children should build their own savings first (13.8%) or want the money to be a surprise (10.3%).
Not all parents are as secretive, though. Nearly half admitted to being open with their children about their savings (44.8%). The economic environment could be a contributing factor in more open communication about money. Studies show that 92% of UK parents now talk more about finances with their children.
Claire Jones, Head of Strategic Relationships and New Business at Flagstone commented on the study: ‘It’s encouraging that so many parents are already saving for their children’s futures. But it’s not just about how much they save – it’s also about where they put it.
‘Junior ISAs (JISAs) are one option, letting parents save tax-free until their child turns 18. Beyond that, finding accounts with better rates can make a meaningful difference to the amount children eventually receive. That’s where platforms like Flagstone can help, by giving parents access to a wide range of competitive savings accounts – all in one place.
‘The sooner parents start, the more time their savings have to grow. Even small amounts saved regularly can build up significantly over the years.’
You can view the full study here.