Hey guys, currently pregnant and I’ve been thinking about setting up some savings for my child. I’ve never done anything investment wise; in fact I’ve personally never had any savings myself. I’ve had a look at the junior ISA by Onefamily, in their stocks and shares and it looks interesting. I’m not too brave, I’m mostly interested in the low risk investing.
There’s no set amount I want to put aside each month, I’d say a minimum of £10, but I want to aim for £20-£30 each month. I’d also like the choice to randomly splash in, so if I had £50 spare that month I could just pop it in there etc.
My reasonings for tilting towards an ISA is I may not have great restraint on a standard savings account, and may be tempted to dip into it if things do get tough. So I do like the thought of this being completely untouchable. And honestly, kinda silly, but it sounds a bit fun and thrilling to have some stock. It may even be a great learning lesson in investment for me and my child.
My question is, does anybody have this ISA, and do you regret getting it? And if you think this may not sound right for me and my family, what would you suggest? Please internet refrain from any judgment (tho I know I will still get some) 😂😂
Thanks, a complete savings/stock noob.