Savings Advise For My Children?

MEDICAL_MAN

Hello everybody,

i am after some savings advise for my little girl , she is eight years old and
has quite a bit of money in various savings accounts,i have invested some in the stock market for her and she has the usuall school savings but the bank contacted us the other day and said she had to much in that childrens account and we needed to open another one,i am not talking mega bucks but i am talking a couple of grand and i would like some advise on where it would be best to invest it for her ??


Thank you

System

Hi Medical Man, welcome to the boards. I think you have to ask yourself what you want from a savings account, and how often will you be paying money in. If its a on a regular basis maybe you ought to look at setting up a regular savings account which generally pays a little more interest than a bog standard account from the high street.

Have you looked on THIS site, it is a useful tool when deciding where to put the money. Dont forget though, she shouldnt be paying any interest, so make sure you have filled in a R85 for her.