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Use your Child Trust Fund voucher
MSE_Martin
Posts: 8,272 Money Saving Expert
What's the problem?
According to recent reports only one third of parents that have received the £250 minimum vouchers have used them.
What happens if I don't
Don't delay. If you don't use the voucher the Government gets to choose for you where your childrens' money is put and that may not be the best pick.
Do it yourself before it gets done for you.
Read more:
CTF article
Discuss CTFs
According to recent reports only one third of parents that have received the £250 minimum vouchers have used them.
What happens if I don't
Don't delay. If you don't use the voucher the Government gets to choose for you where your childrens' money is put and that may not be the best pick.
Do it yourself before it gets done for you.
Read more:
CTF article
Discuss CTFs
Martin Lewis, Money Saving Expert.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
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Comments
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Never mind according to recent reports.. it's official (and a lot less than a third)
up to May 20th of 1.74m vouchers issued 499,000 had been 'cashed in'.
http://www.hmrc.gov.uk/stats/child_trust_funds/may05.pdf0 -
That'll be just the MSE'rs that have used theirs then...
...and then the window licker said to me...0 -
Agreed, even if you stick the money into the least generous "savings" type CTF, at least some interest is better than none and you can always transfer to another provider later.:A0
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I second that, get your voucher into a bank today. Even if you haven't decided which is best yet, at least then it'll be earning some interest.0
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