Advanced search

Mumsnet has not checked the qualifications of anyone posting here. Free legal advice is available from a Citizen's Advice Bureau, and the Law Society can supply a list of local solicitors.

Saving scheme for children - don't have child trust fund voucher

(5 Posts)
Janus Thu 05-Nov-09 12:00:37

I want to open a decent saving scheme for my 9 year old. Her 2 younger sisters had child trust fund vouchers which I have invested but I cannot invest at same company without a ctf.
Therefore, does anyone know of a decent scheme? I am willing to take some risk with maybe stocks and shares is this sensible??!

nannymcphee Thu 05-Nov-09 17:44:37

My eldest also missed out on the CTF. The other two childrens vouchers I put into The Childrens Mutual - they have several different funds and you can decide how risky you want to go. TBH if you're putting in the same amount ie. £250 + £250, you may as well go risky!!

We've been impressed with them.

henryhuggins Thu 05-Nov-09 17:49:06

we shove things into our ISAs for the kids, it's all our/their money - we'll be deciding how the money is spent when they become 18! certainly not wasted or misspent. (is it 18?). when that is full, anything extra we put into a supersaver account that generally has higher rates of interest (think Halifax has a 10% account for kids?) and any extra after that is tied up in long term accounts

Janus Thu 05-Nov-09 20:43:52

Thank you both. I have looked at Childrens Mutual and requested their info on child bonds which looks like what I'm after. I think I want to take a little more risk than an ISA/savings account (although god hope I don't regret that!) so this may be the one. I'm even considering doing £10 to one fund and £10 to the company I used for other CTF voucher, just to maybe spread risk. I have been dithering for about 18 months now so need to just jump in and actually do something for the poor girl!
Many thanks.

janinlondon Fri 06-Nov-09 14:13:48

Remember to check the tax implications of any interest they earn as it is usually counted as your interest if you supplied the capital.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now