Saving at 16

[7yo7yo]

My DS is 16 and has a started an apprenticeship.
he wants to spend some and save some. I have suggested he look into ISAs etc.

what is the best way to see his money grow? He needs to see there’s value in saving. He would love to spend it all on boohooman and going out.

Halifax and nationwide both do regular saving accounts with decent interest rates (last time I checked!)

We found that 16 is a difficult age for saving accounts - no access to children's savings, but often adult accounts are from 18!

Although he's still young maybe talking to him about any goals he may have for the future will help with setting something aside. When he looks at it knowing that short term savings may pay up front for his holiday with friends and longer term may pay for driving lessons/ car/ house deposit it might make a difference. Also showing what those things actually cost and what he would have to put away regularly to afford them. When he's got a bit aside he could look at fixed bonds with goals at the end or when he's a bit older the lifetime isa etc. tell him that putting away a good chunk of his salary will prepare him for renting or paying a mortgage as it won't result in a sudden drop in money he can use. Also once he has those things it might be harder to save.

Thank you both.
the 16-18 age is defo a challenge in terms of bank accounts!