Saving

[Runningbackwards]

I want to encourage my 17yr old son to build some savings. He has approx £2,000 across a bank account and low interest savings account. He is working over the summer and will earn approx £2,000. He wants to possibly save for a car, go to festivals etc. I want to encourage him to put a bit into a better savings account (encourage not tell him). Any ideas as to the best type of thing for medium/long term saving.

HAve a look at some of the 'Help to Buy' accounts. Even if he isn't looking to buy at the moment, the interest rates seem better than the 'ordinary' savings accounts.

He’s 17 let him enjoy his money. The best thing you can do is encourage him not to take out credit.
And To save for what he wants