Anyone invested a lump sum for godchild instead of doing Xmas and birthday gifts?

[Pusspuss1]

If so, how did you approach it tactfully with the parents, and how did the suggestion go down? I have a young godchild who I'd much prefer to to set aside say £1k for now, instead of bombarding her with presents that she probably won't want or need for the next 18 years! She'd then hopefully earn some interest on it in the meantime, and end up with a decent little nest egg to put towards uni, or driving lessons, or a first car, or something else 'proper'. Obviously, I'd still be sending her cards, generally keeping in touch etc etc. I'd be very interested to hear of any thoughts or experiences.

My DP put an amount into a savings account for both DC for their birthday and at Christmas. They also bought them a token present, so that they'd got something to open!

I think they were around 18 when they were given the money, and really appreciated it.

You can open a premium bonds account for her and just buy more each birthday/Christmas so she has something to open. I've invested £500 each for my dc and then buy units of £20-50 whenever I can afford to. It's better than a savings account as it locks the money away & it's a hassle to sell them to access the cash quickly, so good for long term saving.

www.nsandi.com/premium-bonds

My son's godfather did this. He has been saving since ds was born so the 2 of them can go on a safari together. DS is now 18 and his godfather has started talking about when/where etc. He said it to us when ds was a baby - we thought it was a great idea.

I used to buy my godson premium bonds (or rather get his mum to do this on my behalf). These days I pay for him to go to PGL for a week every year instead, so he gets a memorable holiday rather than an unwanted present.

Not exactly, but I was twice bought shares when I was a child. Didn't really know much about them - get dividends a couple of times a year. Just recently looked them up and astonished to find that in total they are worth over £10,000.