saving for my childs future

baron777red

we are currently paying £10 a month into a halifax savings account, for my daughter who is 2 (its the childrens saver that paid 10% for 12 months, but is now paying less than 1% i think)and i was wondering if there were some other means of investment i could do, to get a better return.

we already have a child trust fund with the money from the goverment, should i pay it into that, or are there any good places to invest.

i know its only £10 but i would prefer to get a decent return if possible.

thanks

ses6jwg

I was in the same boat a few weeks ago.

My daughter had 1,000 in the CTF and 970 in a Natwest Childrens Saver earning 0.8% or something.

I have stopped all contributions to the CTF as I dont know if you are aware but when they are 18 they can spend on wahtever they want you have no control. I may move it to a stakeholder account if the market drops below 5,000 again

I moved the £970 into a Halifax Guaranteed Reserve fixed for 2 years - no contribtions or withdrawls @ 4.3%

I then set up a Childrens Regular Saver which pays 6% and you can save £10-100 every month.

Principality do a similar regular saver.

hope that helps.

DiggerUK

baron777red,
Gold sovereigns are VAT and CGT free.
1/2 sovs are 80+ and full sovs are 160+
Ever thought of a birthday coin each year?

See here for prices. (+p&p)
http://www.elminvestments.co.uk/gold-coins.html
http://hattongardenmetals.com/gold-coins.aspx

AnAlternativeView

Chesham BS has a kids account - which they can't access until the child (adult by then!) hits 18. Not a bad rate for the current climate when you consider it is tax free for kids.

baron777red

thanks for the replies.

ses6jwg - i have the CTF at the nationwide, i havent contributed anything extra since we received the governments £250.00, if i remember right your not allowed to withdraw this until they are 18.

i think i will take the money out of the halifax, and put it in a fixed rate bond, but i want one that i can add money to each month, rather than setting up 2 different accounts.

rb10

baron777red wrote: »

we are currently paying £10 a month into a halifax savings account, for my daughter who is 2 (its the childrens saver that paid 10% for 12 months, but is now paying less than 1% i think)

Provided that you haven't changed the account that the standing order is going into, and that account is called a Regular Saver (not to be confused with the Monthly Saver), then you will currently be getting either 6% or 8% on that account, depending on when it last matured. I doubt you'll find anything higher than that.