Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • undlou
    • By undlou 10th Oct 17, 11:48 AM
    • 44Posts
    • 24Thanks
    undlou
    Best child savings accounts for reg saving
    • #1
    • 10th Oct 17, 11:48 AM
    Best child savings accounts for reg saving 10th Oct 17 at 11:48 AM
    Hello,

    I'm looking put 100% of my 1yr sons child benefit into a savings account for when he turns 18.

    Can anyone recommend any savings accounts for very young children over a long period of time?

    Or perhaps someone has a better idea on how to do it.

    Thank you
Page 1
    • eskbanker
    • By eskbanker 10th Oct 17, 12:00 PM
    • 7,428 Posts
    • 7,999 Thanks
    eskbanker
    • #2
    • 10th Oct 17, 12:00 PM
    • #2
    • 10th Oct 17, 12:00 PM
    Whatever you do would be best handled via a junior ISA to shelter the money and growth from tax, see https://www.moneysavingexpert.com/savings/junior-isa

    For a long 17 year period, it would make more sense to invest rather than save, as cash-based savings are unlikely to keep pace with inflation, so a S&S JISA is likely to be the best option....
    • jimjames
    • By jimjames 10th Oct 17, 12:13 PM
    • 12,649 Posts
    • 11,312 Thanks
    jimjames
    • #3
    • 10th Oct 17, 12:13 PM
    • #3
    • 10th Oct 17, 12:13 PM
    As above I definitely wouldn't use cash savings accounts. Share based ones should give a far better return over that timescale
    Remember the saying: if it looks too good to be true it almost certainly is.
    • xylophone
    • By xylophone 10th Oct 17, 2:11 PM
    • 25,566 Posts
    • 15,099 Thanks
    xylophone
    • #4
    • 10th Oct 17, 2:11 PM
    • #4
    • 10th Oct 17, 2:11 PM
    https://www.vanguardinvestor.co.uk/investing-explained/stocks-shares-junior-isa?cmpgn=PS0517UKPAJIS0002&gclid=EAIaIQobChMI-rGp6o7m1gIVyZkbCh0tZA8UEAAYAyAAEgLz9_D_BwE

    https://www.charles-stanley-direct.co.uk/Our_Services/JISA/

    http://www.hl.co.uk/partners/search/junior-isa?theSource=PCHLJ&Override=1&adg=G+HLBJ+JIS&gcli d=EAIaIQobChMIl6nNkI_m1gIVaDPTCh1pTgz5EAAYAiAAEgIQ MfD_BwE

    https://www.gov.uk/junior-individual-savings-accounts

    http://www.telegraph.co.uk/investor/ideas/telegraph-25-the-definitive-list-of-our-favourite-investment-fun/

    http://www.telegraph.co.uk/money/special-reports/top-junior-isa-funds-chosen-experts/

    http://www.whatinvestment.co.uk/revealed-three-best-funds-junior-isa-2017-2553393/

    Some reading.....
    • Alexland
    • By Alexland 10th Oct 17, 2:22 PM
    • 2,561 Posts
    • 1,946 Thanks
    Alexland
    • #5
    • 10th Oct 17, 2:22 PM
    • #5
    • 10th Oct 17, 2:22 PM
    I am investing for my son with a Orbis Access S&S Junior ISA holding the Global Equities (actively managed) fund but a Vanguard Investor S&S Junior ISA holding the Target Retirement 2035 (mostly passive indexing) fund would also be a good choice.
    • undlou
    • By undlou 5th Mar 18, 11:08 AM
    • 44 Posts
    • 24 Thanks
    undlou
    • #6
    • 5th Mar 18, 11:08 AM
    • #6
    • 5th Mar 18, 11:08 AM
    Thanks for all your help
    • Flobberchops
    • By Flobberchops 5th Mar 18, 1:49 PM
    • 744 Posts
    • 530 Thanks
    Flobberchops
    • #7
    • 5th Mar 18, 1:49 PM
    • #7
    • 5th Mar 18, 1:49 PM
    If you want some cash savings, you could do worse than the Halifax Kids Regular Saver which has recently had its rate raised to 4.5%. Stocks and shares will probably do better long term though.
    I work for a UK bank, but any comments made on this forum are solely my personal opinion. Caveat Emptor!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,450Posts Today

8,186Users online

Martin's Twitter