We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advice on a 1 year olds savings account
katielouisej
Posts: 270 Forumite
Hi, I have a 1 year old who i'm trying to build a fund for so he can get driving lessons or seomthing along those lines at the age of 18. He has £325 at the moment, just wondering if theres any reccomendations for the account I go for? His savings are currently in a online saver attached to my current account so earning no money whatsoever!
I don't mind locking it away for a period of time, just so long as i can still put money into it when needed.
Many thanks in advance & apologies if this is in the wrong place
I don't mind locking it away for a period of time, just so long as i can still put money into it when needed.
Many thanks in advance & apologies if this is in the wrong place
0
Comments
-
You may want to look at investing rather than saving as it should outperform cash by a long way over a 10+ year period.
A S&S JISA is a tax efficient place to start, and will be released to him on his 18th birthday.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards