Women take the lead in saving for children

  • Scottish Friendly’s Investor Index shows that more women have opened new JISAs since 2019

  • However, the cost-of-living crisis continues to restrict the amount that savers can afford to put away each month in regular contributions


Scottish Friendly’s latest Investor Index has shown that since 2019, women are leading the way with opening new Junior ISAs (JISAs) for their children, versus men.  

The leading financial mutual’s quarterly study of its members’ investment trends revealed that since the index was first launched, five years ago, the number of JISAs women have opened is up 128%, versus men (up by 101%).

This finding is backed up by Scottish Friendly’s recent Family Finance Tracker research which found a fifth of women in the UK (20%) said their highest priority future financial goal was saving for their child or grandchild, whereas 15% of men ranked this a priority.

The Investor Index, which focuses on JISA and ISA savings shows new JISA sales were up in every region of the UK, since 2019, with northern regions of the UK largely leading the charge. Scotland led the way overall, up 225%, followed by the East Midlands and North West (up 153% and 117% respectively).

However, the amount being saved in JISAs since 2019 has dropped in most regions, suggesting that the impact of the pandemic and continued cost-of-living pressures are still restricting how much most of the UK can put away for the future.

The East of England saw the amount of money saved in JISAs down by 39% and the West Midlands by 38%. The only region to see an increase was in the South East (up 34%).


Scottish Friendly’s savings specialist, Jill Mackay, commented on the data: “It’s positive to see that parents and guardians are prioritising saving for children as part of their long-term financial goals, even with ongoing cost pressures.

“Understandably being able to set aside a lot of money may not be an option with day-to-day financial demands as they are. But starting as soon as possible and just putting a little away into a stocks and shares JISA could build to be a substantial amount over time.

“More can be done here from a policy point of view to support those wanting to save for children. We believe that children’s savings could get a real boost if JISA rules were changed to allow other family members, such as grandparents, to be able to open up a JISA. Giving children a better financial foundation for when they enter adulthood can only be a good thing, and removing this barrier would make a big difference.”





Chris Tuite, Director and Head of Consumer Finance at MRM

 07471 350 810

[email protected]



Remember that the value of investments can go down as well as up and the child could get back less than you paid in.

Past performance is no guide to future results. Tax treatment depends on individual circumstances which can change in the future.


Editors notes:

About Scottish Friendly

Scottish Friendly is a leading UK mutual life and investments organisation. It provides investors and their families with a wide range of investment and protection solutions and provides life and investment products and services to other financial organisations.

Scottish Friendly has roots stretching back to 1862. Established as the City of Glasgow Friendly Society, its name changed in October 1992 when it took over Scottish Friendly Assurance.

The Group has flourished through a three-part growth strategy of organic growth, mergers and acquisitions, and business process outsourcing.



Scottish Friendly, Scottish Friendly House, 16 Blythswood Square, Glasgow, G2 4HJ

Scottish Friendly Assurance Society Limited. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Scottish Friendly Asset Managers Limited.  Authorised and regulated by the Financial Conduct Authority.