Saving Advice needed

Henrycole

Hello everyone I just joined!
My mum has £5,000 she wants to give to my son in 2 years in my sons name when he reaches 18 for him, advice needed please where the best place to put it? 

Thank you

TheMilkmansDad

If she's keeping the money herself in her on name and then gifting in in 2 years, then probably a fixed term savings account may be best?

soulsaver

Invest it in auto jumble?

eskbanker

Open a Junior ISA if he doesn't already have one - you'd need to do this but once opened she can pay her money in:

https://www.moneysavingexpert.com/savings/junior-isa/#bestbuys

thegreenone

Does your son want to learn to drive?  I ask, because my thoughts would be that your Mum finds a one year fixed rate account for the money and then she release it to him/you to pay for driving lessons, a small car and insurance.