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Credit crunch 'benefits' savings
In situations where there is a negative financial outlook, people take a more detailed look at their savings, the Children's Mutual has said.
David White, the company's chief executive officer, said: "What happens [during] downturns in markets is that people think: 'You know what? We should really be a little bit more careful with our money and we should save a bit'."
Parents and relatives contribute increasingly to savings for their children's future despite the current credit crunch, according to the latest TISA Quarterly Survey of Child Trust Funds.
Some 480,000 accounts have been opened in the year since March 2007 and of these nearly 134,000 have been opened in the last quarter of the year.
Companies like Children's Mutual monitor the number of people who open a direct debit at the same time as they open a child trust fund account.
"That has actually gone up in January, further up in February and further up in March," said Mr White.
And this is due to the fact that "in times of negative press around financial things, people actually consider savings more".