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Saving scheme for children - don't have child trust fund voucher

4 replies

Janus · 05/11/2009 12:00

I want to open a decent saving scheme for my 9 year old. Her 2 younger sisters had child trust fund vouchers which I have invested but I cannot invest at same company without a ctf.
Therefore, does anyone know of a decent scheme? I am willing to take some risk with maybe stocks and shares is this sensible??!
Thanks.

OP posts:
nannymcphee · 05/11/2009 17:44

My eldest also missed out on the CTF. The other two childrens vouchers I put into The Childrens Mutual - they have several different funds and you can decide how risky you want to go. TBH if you're putting in the same amount ie. £250 + £250, you may as well go risky!!

We've been impressed with them.

henryhuggins · 05/11/2009 17:49

we shove things into our ISAs for the kids, it's all our/their money - we'll be deciding how the money is spent when they become 18! certainly not wasted or misspent. (is it 18?). when that is full, anything extra we put into a supersaver account that generally has higher rates of interest (think Halifax has a 10% account for kids?) and any extra after that is tied up in long term accounts

Janus · 05/11/2009 20:43

Thank you both. I have looked at Childrens Mutual and requested their info on child bonds which looks like what I'm after. I think I want to take a little more risk than an ISA/savings account (although god hope I don't regret that!) so this may be the one. I'm even considering doing £10 to one fund and £10 to the company I used for other CTF voucher, just to maybe spread risk. I have been dithering for about 18 months now so need to just jump in and actually do something for the poor girl!
Many thanks.

OP posts:
janinlondon · 06/11/2009 14:13

Remember to check the tax implications of any interest they earn as it is usually counted as your interest if you supplied the capital.

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