He’s baaack

Anyone of a certain age will probably recall Henri the Hippo savings boxes from Ulster Bank. I remember wanting one of those but never got one. My parents shovelled all their cash into Bank of Ireland in those days. All the BOI gave out was a boring BOI logo shaped yoke.  I wasn’t impressed at all and rebelled against saving money. I spent everything on sweets, top trumps and Star Wars stuff. I have no teeth now, but I don’t care – I laugh gubby mouthed in the face of the Bank of Ireland – they might have got my teeth, but they sure as hell didn’t get any of my money as a kid

This new Henri the Hippo is probably double the size of the original one and I wouldn’t be surprised if the banks have child wealth advisors in branch to advise on what to do with cash that hasn’t been spent on mobile phone credit.

National Irish Bank had a press release earlier in the week showing just how times have changed in terms of spending power. The banks want your kids money desperately and what better time to remind you of this than confirmation and communion time. Lovely.

Just a few of the stats from NIB.

• Irish children receive ten times more cash for their Communion or Confirmation as their parents did
• 74% receive more than €150 as a Communion gift
• Almost half spend their money on mobile ‘phones
• 86% have a junior savings account
• 74% have started saving at the age of 6 or under
• 94% of parents manage their finances more strictly since they became parents
• For every €1 that their parents received, in 2008 prices today’s children get €4

Now, I’m off to scare some bank tellers with my gurning. Actually, I do have teeth but I like to scare bank tellers anyway when they take a look at my bank balance.