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Saving for kids first car/driving lessons

1 reply

sickofturkey · 05/01/2019 10:09

I am looking for some advice...
Although I don't have a great deal of disposable income I want to save a small amount each month - up to £10 for my daughters driving lessons and first car (she's currently 5)

Junior Isa seem to be an effective way to save for a child's future however it seems that they cannot access the money until 18 years old.

Can anyone suggest the best way for me to invest the money?

Many thanks

OP posts:
maxelly · 05/01/2019 19:24

I would recommend a fixed rate savings account, this article explains the best options out there fairly well

www.moneysavingexpert.com/savings/child-savings-tax-free/

You probably don't need to worry too much about an ISA as the interest on a small amount of cash won't be taxed anyway, so just look for the account with the best rate, the halifax seems to be the best ATM...

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