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!
Child Trust Fund due to mature
ladystow5
Posts: 3 Newbie
Hi, my son is turning 18 in October and we received the £250 trust fund money that we have been adding to each month since he was born. He'd like to put a large chunk of what the fund is worth in a savings or ISA type account (would be approx £7k), does anyone know of any good options for this?
0
Comments
-
It'll depend on what he ultimately wants to use the money for, and when, but in many cases it'll make sense to put £4K into a Lifetime ISA, which the government tops up to £5K if used towards a first property purchase.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards