Advice for new DD's savings needed

quidsin

Hi, our new daughter is now 4 weeks and we're looking to start off her savings,
starting with the governments £250, which will probably be topped up with £10 / £20 month and anything else she gets from birthdays etc. I've heard trust funds are probably better, but which one?

Any advice?

Heinz

Have a read of Martin's article on the subject.

tyllwyd

The voucher from the Government has to go into a Child Trust Fund. For any extra money, you can either put it into the child trust fund, or open a different savings account - you need to weigh up the pros and cons to both.

You need to decide whether you want the child trust fund money to be invested in cash or shares - and if you chose shares, you need to decide whether or not you want it to be a stakeholder.

Have a look here
http://www.childtrustfund.gov.uk/
http://news.bbc.co.uk/1/hi/business/4391751.stm