Longterm saving for children, advice!!

quentinfarquar

I am currently saving monthly for my daughters future expenses, uni, wedding, school etc...

So the money is mine and for me to use to pay for these things, however given she is only 1 I can afford to tie it up. The fund is currently just over 1k and in a relatively poor BS account. So I was thinking about NS&I 5 year bonds.

I have Isa's so thats not an option, she has her own account with her own money from gifts so thats not an option.

So really just wondered what the best option is, will probably be in her mothers name as a lower rate tax payer.

emma396

If the money is in your daughters name there will be tax to be paid. So the money is yours, but will be for your daughter in the future, how about a child trust fund?

jamesd

You're looking at an 18+ year period. You should be using investments, not savings accounts.