DS1 had a Child Trust Fund, DS2 does not...

[BusyCee]

Morning. I'm just looking at house finances, and it's become glaringly obvious that DS1 (born in 2010) has a cosy Child Trust Fund, while DS2 (born 2013) does not, and is therefore significantly less well off.

Any recommendations for a similar scheme to a CTF that I could set up for DS2 to try to even the balance? (I'm a bit of a dunce with money...)

Thanks

I had the same with DD1 and DD2.
Your Child without CTF is entitled to open a Junior cash ISA.
I know the rate is probably not the best but I wanted both to have the same and not be able to touch it before 18.
They can also both have a junior saving account that can be access at any time.

I had the same with DD1 and DD2.
Your Child without CTF is entitled to open a Junior cash ISA.
I know the rate is probably not the best but I wanted both to have the same and not be able to touch it before 18.
They can also both have a junior saving account that can be accessed at any time.

oops sorry! not sure what happened there!

Thanks - I'll get it done!

We have 2 children with CTF earning a paltry interest rate and 2 children with Halifax Junior ISA's earning a much more decent rate, although these Junior ISA's when we opened them had to be linked to an adult ISAwhich my dh took out in his name from some inheritance. I am hoping that the law will change soon and allow us to transfer the CTF to a junior ISA for the other 2.

If you fancy something a little more interesting long-term than a Junior ISA there are various organisations offering unit trusts which mature age 18. Good article.