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Child savings advice please

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Hiya

I have just been sorting out my 2 youngest daughters CTF, and it got me thinking about my eldest daughter, who is almost 12, and so doesnt qualify for a CTF.
I would really like to put something away for when she turns 18 or 21, (not that I have that long left!) but have no idea what would be the best way to do this??
Any advice would be great.
Thanks

Comments

  • Mikeyorks
    Mikeyorks Posts: 10,377 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Good starter here? :

    http://www.moneysavingexpert.com/savings/child-savings-tax-free

    .... you don't say how much / how regular. But the Halifax children's Regular Saver is a good starting point if you can manage between £10 to £100 monthly (doesn't have to be the same amount each month)

    http://www.halifax.co.uk/savings/childregularsaver.asp

    Bear in mind the 6% on offer 'flatters to deceive' a little ..... as you obviously only get the interest on money actually in the account. So £100pm will only generate around £36 interest on the average £600 that will be in the account by the year end. But as this sounds to be 'new money' ....... you're not going to get anything approaching 6% anywhere else. So it's a good way to start.
    If you want to test the depth of the water .........don't use both feet !
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