Accounts for children

markelock

don't pay money into a CTF. If you haven't already received your yearly statement, you'll find it's lost loads of money.

One of mine even wrote to me with a form to add more money, based on it losing money month on month. madness.

I save separately for my two kids. Also their maternal grandmother saves for them. the accounts are in my and my childs name.

buckster

I didn't realise you can lose money on a CTF. Do they take admin costs out then?

Savvy_Sue

MOVING THREADS FOR BETTER RESPONSES

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere (please see this rule) so this post/thread has been moved to the Savings board, where it should get more replies. If you have any questions about this policy please email [EMAIL="abuse@moneysavingexpert.com"]abuse@moneysavingexpert.com[/EMAIL].

markelock

buckster wrote: »

I didn't realise you can lose money on a CTF. Do they take admin costs out then?

they did on both of mine. hold my hands up though, I let the government invest it (they choose the company from the list) as it's of no interest to me.