Best way to save/invest £1000 for new baby?

PrincessJR

Hi,

We are due to have our first child in April 2012 and my Father has said he would like to open an account for the baby and deposit £1000, adding to it bit by bit as the years go on so that they have a small nest egg by 18.

I am wondering if a standard account is the best way to go, as the value of cash depreciates over time?

Would we be better investing the money (or as my friend suggested by an antique!?) - I would have no idea what I was looking for so am ruling this out!

Any help is appreciated

Thanks

MrJJC

The Hargreaves Lansdown Junior ISA would be an option.

atush

I think a cash savings pot for children is a must, but for long term saving for that tidy sum you hope for, I think investing in equities is best. they will out perform cash (and inflation) over 18 years.

I have an investment trust savings plan for my 3 boys, you can invest from as little as 20-25 quid a month, depending on which trust/group you choose. Most start around 50 quid.