I want to save/invest for my nephew

theGrinch

My nephew is ten and a half. He already has a savings arrangement with his mum, but I would like to put £40 away per month for him separately.

With the current low rates of interest, which look set to continue for a year or two I was thinking of other ways to invest it and given the timescale, maybe other investments will do better. I am looking at 8 to 10 years.

I was thinking of maybe a regular savers account or investing in shares. Any recommendations or pointers would be great.

I would be very interested to hear from anyone in a similar position or who has started.

Apologies if this question has been posted 100 times before - but events are ever changing as we all know.

The_MoneySavingKid

The Halifax Childrens Regular Saver is a perfect start by the looks of it.At 8% it's an ideal option.
http://www.halifax.co.uk/savings/childregularsaver.asp

theGrinch

thanks very much. I will look into it. also look at shares. can anyone recommend a dealing service to buy approx £50-100 of shares per month?

StevieJ

theGrinch wrote: »

thanks very much. I will look into it. also look at shares. can anyone recommend a dealing service to buy approx £50-100 of shares per month?

You would probably want a tracker, try this:

http://www.legalandgeneral.com/investments/unit-trusts/index-tracking-unit-trust/the-charges.html

anselld

theGrinch wrote: »

thanks very much. I will look into it. also look at shares. can anyone recommend a dealing service to buy approx £50-100 of shares per month?

For my kids I use an Investment Trust, eg JPMorgan
They take in regular payments and invest in a diverse range of shares. Usual risks of equity based investments but charges seem to me to be lower than Unit Trusts, etc.

If you really want to select shares try SelfTrade They have a regular investment service with reasonably low dealing charges.