ISA or Reg Saver for 16yo?

Old_Timer

My 16yo daughter has just 'properly' earned her first pennies by taking a job at a local restaurant. It's just waiting tables at the weekend while she studies for her A levels at 6th form college so it's not exactly big bucks.

I'm planning to encourage her to save a percentage of earnings, even if it's only a fiver or tenner a month, but where? A cash ISA was my first thought but she is unlikely to earn enough to get close to the tax threshold anyway so would a regular saver be better and complete a R85 (not sure of the age restrictions on these). Or, is there something else that would be more appropriate?

Any thoughts folks?

Lokolo

There are minimum amounts for regular savers and she has to contribute every month. If she can do these then yes, a regular saver is best. She can also complete an R85 if you wants (as long as she doesn't actually earn over her personal allowance!)