£36k for kids

andrewfd

I have an "education fund" for the kids most of which is in NS&I Index linked certificates - 100% safe, tax free decent returns. However, one of the series matured and as the kids are too young under the new T&Cs they cashed out.

I am looking for somewhere to put them for the next 3-10 years. Bank accounts seem pitiful, buy2letcars seems dangerous.

I already have a Zopa account so might go back into that, but does anyone else have any decent ideas?

PS - no debts, other savings sorted, ISAs maxed out, kids have CTFs so I think that means Junior Cash ISAs are not possible

atush

Well, I put my kids 'education money' into investment trust savings plans. Costs are low, and returns have held up well, even over the last turbulent decade.

I saved monthly from income, not thru a LS. If you aren't adding monthly, you can just buy investment trusts thru your normal online stock broker if you want. Or you can invest LS into the savings plan, but do look at costs both ways to hold them.

I am now slowly selling in tranches to pay their Uni costs.

jimjames

andrewfd wrote: »

I am looking for somewhere to put them for the next 3-10 years. Bank accounts seem pitiful, buy2letcars seems dangerous.

There are plenty of options between the two extremes of bank accounts and buy2letcars.

We use Aberdeen and F&C investment trust savings schemes for our kids. You can put in from around £25 per month and there is no fixed term so can access money at any time. ALso give a wide choice of investment options.

As per Atush, costs are very low and I've always found them to be a very easy way to save long term.

xylophone

Perhaps fill up their CTFs? It is possible that the Govt will allow transfer to JISA in the future.

Just one thought - does the money belong beneficially to the children and did you/your spouse provide it?

Unless held in tax privileged accounts, the £100 rule might be relevant.

https://virginmoney.com/virgin/savings/learn/childrens-accounts/ See "Things you might like to know".