Nearly 40% of parents have been inspired to set up other savings accounts after arranging a Child Trust Fund (CTF), a new survey has found.
Analysts are predicting that the Government scheme could encourage a national savings culture among parents and children and increase financial awareness.
Figures released by Child Trust Fund provider Family Investments show that nearly a third of parents believe CTFs will make their child more financially aware.
But a further 44% of respondents to Family Investments' survey said they did not believe it would make a difference to their offspring's future relationship with money.
Take-up of the Government scheme is high according to the survey, with 87% of parents interviewed having already opened accounts for their children.
Of the remaining 13%, more than half claimed they had not got around to it, due largely to the demands of parenthood.
The poll also found that some parents viewed the CTF system as overcomplicated.
One in seven parents admitted to being so afraid of making the wrong decision for their child they had taken no action to invest their child's voucher, leaving it to the Government to allocate a provider for them.
John Reeve, chief executive of Family Investments, said: "While the scheme is clearly encouraging parents to save, a habit that will be passed on to their children, there is still work to be done to ensure that personal finance education is a priority for parents, both to help themselves and their children in realising the benefits of savings."
