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Children's savings

Richie2128
Posts: 9 Forumite

Hi all.
Is now debt free and looking at saving some money. Also I want my daughter to learn good money habits.
I am looking to put £10 away each month and was wondering if the Halifax kids savings account at @ 4.5% is best or if there's a other option.
I would also be putting money into an account that we can pay into in branch then go for ice cream as a reward for saving as the above account can only take money by standing order which limits the teachable moments.
What's everyone's thoughts please
Is now debt free and looking at saving some money. Also I want my daughter to learn good money habits.
I am looking to put £10 away each month and was wondering if the Halifax kids savings account at @ 4.5% is best or if there's a other option.
I would also be putting money into an account that we can pay into in branch then go for ice cream as a reward for saving as the above account can only take money by standing order which limits the teachable moments.
What's everyone's thoughts please
0
Comments
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The Halifax RS is fine for the modest monthly saving.
How old is your child?1 -
I use the Halifax 4.5% saver. It came up as the best option in July when I opened it and will last 2 years before I need to move it.Can’t recommend one that allows you to pay in, unless the main page does. Would you be able to pay into your account in branch with child and then transfer straight across so they could see the money getting paid in that way. I doubt they’d know it had gone via your account?1
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Thank you guys. My daughter is 2 and a half. I want to start her early plus the sooner she starts the more she would have later on maybe for education or even part of a deposit for a house0
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Does your child have a Junior ISA for the long term?
https://www.gov.uk/junior-individual-savings-accounts
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