Kids savings

hmccollum · 28 February 2019 at 11:30AM

Hi there,

I'm new to this forum. I wanted to ask a question about putting some money away for my 4 year old daughter.

I would like to put away £500 for her, to hopefully grow for the future. I don't need access to it, happy to put it away and forget about it, what's the best thing to look at for this?

I already have set up a regular monthly savings account and pension for her.

Thanks, Heather

MallyGirl · 28 February 2019 at 11:38AM

I would put it in a stocks and shares JISA so she gets it at 18

pinkdalek · 28 February 2019 at 4:22PM

Junior ISA - either CASH or Stocks and shares - it's up to you. If you can try and save a little each month even if it is only a fiver or a tenner, it will soon mount up over the years and you won't miss it going out of your account. Nobody can access this money until she turns 18 and then it becomes hers.