Savings plans for kids.

[Scramble]

I have a savings plan for the two kids set up, but looking at it the return is crap, if I cash it in I get £2000, so what would be the best thing to do with it, preferably something I can continue paying in say £20 a month.

It can be something where I can't draw money when I fancy.

Returns on most investment plans are a bit crap at the moment. There's a big downturn going on, but with time, it could easily correct.

I'd get some very good advice before you make a decision at this time.

What makes you say the return is crap?

Even if it ran to term I get pretty much what I have paid in. Even a basic savings account would have given us more.

Bump

what about a child trust fund?
premium bonds?
or a high interest account.

(there is often and bit in the sunday papers telling you who is offering the best deals at that time)

or unit trusts?

a lot depends on how much you are going to invest and the term and how much risk you want to take.

When we took out our life insurance, we asked the accountant about setting up some sort of savings account for the DC's, he said unless we had hundreds of pounds a month to save then there was no point doing it, whatever we saved by the time they are 18/21 whatever, wouldn't be enough for anything.

I don't know anything about making actual investments though.

Thanks I think I will keep it simple and just go for a high interest savings account.