Savings in late teens

FanDango

Hi. I had bonds for my daughter. She is very irresponsible with money. It was for a deposit for house, uni etc. I hadn’t told her about it. When she turned 16, they automatically took my name off and started corresponding with her. I really financially struggled to make this money, and I’m sure the capital is also getting spent. Her winnings are no longer reinvested and she’s receiving and spending the cheques. I’m fuming. I have other savings for her which she does not know about, but it’s a basic bank account with very poor interest. I was considering an ISA but would I end up in the same position? Can anyone suggest a good safe place to invest until I’m ready to give it to her? The accounts are already in her name. Thank you. 

Keep_pedalling

The only way to save for her without her having control is to keep it in your name. 

Emmia

You could put the money into a junior SIPP, she'll get control at 18 but as it's a pension she won't be able to access it until much later. 

Alternatively keep the money entirely in your name, until you decide you want to gift it to her.