2 years to save for daughter's University

chopper1400

I have been paying my ex-wife for a number of years for my children. My daughter has now finished her GCSE's and has started her A levels and she has made it clear that she will likely be going to Uni after this.

I have agreed with my ex that some of the money I pay to the children be put into some form of savings for Uni.

So...I have a couple of hundred a month that I want to put in the best place for the next two years to pay for Uni expenses later on.

What are the best suggestions, bearing in mind that we both already use up our ISA allowance each year?

melancholly

http://forums.moneysavingexpert.com/forumdisplay.php?f=17

I'd try the savings board to be honest - there will be more experts there on how to save money in the best way over that timescale.

Fire_Fox

Put the money in an account in your daughter's name, then it is clear you have met your obligations and it is no longer your money. Perhaps a three month access postal account or one requiring a parent's signature to access the money.

agrinnall

Savings Board is the place for a full range of answers, but if your daughter doesn't have an ISA then opening one in her name wouldn't be a bad idea, especially as ISA rates are close to the highest of any currently available. The only thing then is that the money would be hers, and if she decided to take it out and blow it on alcopops and shoes there's nothing you could do to stop her.