Long term saving for children

Kitty_Kat_7

Hello

I'm new here, and not very good at saving money, so please be gentle with me !

I'd like to save a small amount, every month, for my two young children, which I would then give to them, eg when they get married. What would be the best way of saving for this?

Thanks for any help.

Lazy_Runner

Hi

I am not an expert but here goes. Over a long period of time, I would invest in the stock market using some kind of fund manager or tracker fund.
If you can plan that far ahead, about 5 years before you give your kids the money, start moving it into safer funds, bonds, cash etc. This will stop the value of what you give them coming down a week before their wedding because of a stock market crash.

As for helpful threads, try the following:

Perils of investing directly

Cheapest way to buy funds

Best place for £50 per month

Martin's article on best childrens savings accounts

In the last week, I saw a thread mention a £25/month minimum for regular stock market saving. But not sure where or if you had to buy directly with the firm as opposed through a discount broker.

Hope these help as a start.

Kitty_Kat_7

Thanks for your help Lazy Runner, I shall go and have a read of those threads.

Nice one on the debt reduction too :T