Just had triplets and need some saving advice please

N77

Hello all, first time on this forum and hoping for some advice.

My wife and I have just had three beautiful children and we are looking at ways to start saving for them, we have been giving a fair amount of money as gifts for them and we want to try and make it work as hard as we can for them.

Idealy we don't want anything that will tie us in for a long period of time, in this current climate we never know when we might actually need to dip into it, 18 nappies per day aint cheap!

We are both quite new to the savings game, so we would appreciate any advice on what's best. Some people have said ISA's, some have said open three ISA's in three names others have said just open one, others have said various savings accounts but at the moment we are just a bit lost with it all.

Any help greatly appreciated.

Neil

Baldur

N77 wrote: »

Hello all, first time on this forum and hoping for some advice.

My wife and I have just had three beautiful children and we are looking at ways to start saving for them, we have been giving a fair amount of money as gifts for them and we want to try and make it work as hard as we can for them.

Idealy we don't want anything that will tie us in for a long period of time, in this current climate we never know when we might actually need to dip into it, 18 nappies per day aint cheap!

We are both quite new to the savings game, so we would appreciate any advice on what's best. Some people have said ISA's, some have said open three ISA's in three names others have said just open one, others have said various savings accounts but at the moment we are just a bit lost with it all.

Congratulations!

Forget ISAs - the minimum age for a Cash ISA is 16 years.

DiggerUK

N77,
Congrats, must be something in the water were you live.

They can't have ISA's in their own name for a while yet, 16 last I checked. Otherwise you will have to use your own ISA allowance, 3,600 per tax year each.
If you open trustee savings A/C's they are free of tax (to a limit)

Best of luck sleeping.

angelavdavis

Martin also has recommendations here

McKneff

18 nappies a day!!! i think your deluding yourself, double it and you'll be somewhere nearer.;) just because mummy and daddy say 'you will have six nappies a day each' doesnt mean that they will do as they are told

And many, many congratulations. :T:T

halight

Well done on the safe birth of your three babies:T:T

My wife and i had twin girls this (one on the 28th of this month) this time last year.

We opened a building soc account each for them . And then we opend There child trust fund.

We opend a stockes and shares trust fund for them.
So thay have the best of both worlds as we thay have chash in the building soc an then money invested on the markets in there trust fund.

Hope that you all have a very happy life together as a family.

All the very best to each of you