Research by Zurich Home Insurance has revealed today that nine out of ten millionaires in the UK have invested up to £30,000 on personal security and in total the nation's rich have spent as much as £5 billion.

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www.moneynews.co.uk > General finance > Research by Zurich Home Insurance has revealed today that nine out of ten millionaires in the UK have invested up to £30,000 on personal security and in total the nation's rich have spent as much as £5 billion.

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Research by Zurich Home Insurance has revealed today that nine out of ten millionaires in the UK have invested up to £30,000 on personal security and in total the nation's rich have spent as much as £5 billion.

Peter Jackson, managing director at Halifax savings, said today: "Pocket money alone is not enough to pay for the lifestyle demanded by today's children."

Mr Jackson's comments come after research from Halifax revealed that on average children in the UK earn £25.39 per week from part-time work; this represents a two per cent increase on last year.

The research has found that children in London earn the most from part time work, while those in the west midlands were found to be earning the least.

A paper round is the most common job for children of both genders while three per cent more boys than girls have jobs.

Mr Jackson went on to say: "It is encouraging to see that children are getting into the working habit at such an early age, with the intention of squirreling their money away, or saving up to buy particular items."

Halifax suggests the findings show children are developing a more mature financial attitude at a younger age, nearly a third of all children now have part time jobs in the UK.

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Related News : Halifax

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