Gift for godson

[mckenzie]

We don't really want to give him cash so thought maybe premium bonds. Is there a better alternative?
For £500.

TIA

I should have said it's for his 21st so he is an adult.

Premium bonds pay very badly at the moment (and are generally not that great). If your aim is for him not to spend the money immediately then maybe you could buy him some shares/unit trusts? Investing is interesting, and v. educational.

He will still be able to sell them immediately if that's what he wants, though.

Thanks Irene. I think that's a grand idea.