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Let's talk saving and investments for your children with Columbia Threadneedle Investments - you could win £300 NOW CLOSED

250 replies

AnnMumsnet · 19/11/2015 11:35

We have been asked by the team at Columbia Threadneedle Investments to find out your views and experience on saving and investing on behalf of your children.

They say "At Columbia Threadneedle Investments, our priority is the investment success of our customers. As a firm trusted with managing our customers' money, we understand that investors have different goals and aspirations and only by truly understanding these can we deliver a great service to you and your family.

With a busy family life we understand that saving and investing may not be top of your list of things to do. Whether you currently invest or not, we would like to find out your views and experiences of saving and investing on behalf of your children".

So please share on this thread your views and experience of investing for your children: is this something you do, if so what sort of savings and investments do you make? Is this something other members of your family do for your children? If you don't save or invest at present, do you think this is something you'd consider in the future?

Add your comment to this thread, and you'll be entered into a prize draw where one MNer will win a £300 voucher for the store of their choice (from a list).

thanks and good luck
NB: a JISA (Junior Individual Savings Account) is a tax-efficient way of saving for children - you don’t pay tax on the interest you earn or any capital gains you make. The money is the child’s to spend as they will when they turn 18 (it can’t be accessed before then). JISAs were introduced in 2011 to replace Child Trust Funds (CTFs)

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Let's talk saving and investments for your children with Columbia Threadneedle Investments - you could win £300 NOW CLOSED
OP posts:
katieskatie82 · 01/12/2015 00:15

i opened a bank account for my ds when he was a baby and pay into it monthy! Its not much but it will add up over the years for when he's 18

unadulterateddad · 01/12/2015 09:22

DS has a child trust fund, which is funded with christmas money and also an inheritance he received. This cant be touched till he is 18.

He has a savings account for his money he earns through doing jobs

sarah3875 · 01/12/2015 09:31

I stash away as much as I possibly can every month for my 3 boys futures. I'd like to think I can set them up with the best possible start in life. A car (in Norfolk), a deposit for property and a decent education are fairly essential needs. It's a constant worry for parents- to save that much whilst raising children isn't possible for many but I don't want to see my boys go into debt the moment they reach adulthood.

matphil · 01/12/2015 10:05

I think it's a good idea to start saving for your children however I am unable to do so as I struggle enough now with everyday costs and don't have any spare money to put away.

robyn297 · 01/12/2015 11:29

So far we've battled to do this! We went to the bank and were just faced with so many obstacles that we gave up. REally need to look into doing something again in the new year.

Ethan260908 · 01/12/2015 13:35

It is all abit of a waste of time, yes I understand it's importance and so does the Government. Look at savings rate's since the recession and how the dutiful have been attached whilst the rest and the reckless don't care or worry.

angiehoggett · 01/12/2015 13:37

I try to set aside some every month in a savings account and any amounts of money that they receive for Birrthdays and Christmas goes in there. It would be great if there were some clear direction on how to best save for your children to help parents with financial decisions like this.

caz123456 · 01/12/2015 14:22

I save £7.50 a week for my girls by DD into their ISA. It is all I can afford, but it will give them a start.

ILoveMyCaravan · 01/12/2015 14:40

We have always put money into Premium Bonds for the DCs. They don't know anything about them, so can't pester to dip into it. Saving it for when they're 18. We also make them save £20 each month from their paper round. I will be investing the money saved so far this year into Premium Bonds.

glmcall123 · 01/12/2015 14:48

We've never been able to make regular savings deposits but always encourage them to save birthday/Christmas money.

cookinmummy · 01/12/2015 16:17

We have two trust funds for the eldest two and need to sort something for our youngest. Money is quite tight at the moment though and we cant afford to add to their saving every single month at the moment. :-(

snare · 01/12/2015 16:55

I put aside £20 per child each month will be helpful to buy a property in the future :)

suzyq50 · 01/12/2015 17:45

I've got savings accounts for the children. Family often add a little to them instead of big gifts for birthdays.

topgunmatt · 01/12/2015 18:08

I have two young children - age 4 and 5.

They have a trust fund money account. We are not adding any further funds to this as they can access this at age 18 - depending on what they are like at this age this may be a bad idea. I think I would prefer to be able to determine when the appropriate time is for them to receive money eg age 25 when buying their first house might make more sense.

We had set up a simple savings account for them at Nationwide, but I am shocked at how little interest there is on this account.

Any suggestions as to where I could get a better return over the long term?

I was thinking of high div shares with automatic div reinvestment as they would appear to offer a good long term return where the short term volatility is irrelevant.

I have my own Sipp, ISA etc with share and fund investments. Can I set up share dealing accounts for my children or am I better just using my and my wife's ISA's and setting certain investments within these aside as relating to my children?

Any advice appreciated?

PhilTB54 · 01/12/2015 18:21

Not a lot at the moment, however grand parents have bought Premium bonds for them.

ceroooss · 01/12/2015 18:54

I've saved all of their birthday money when they were small and also invested some money into a savings account every month!

smit23 · 01/12/2015 19:14

I think involving them in the saving from as young as possible is a good idea. When I growing up, every year my Nan would give me a bag of 20ps it was only about £5 but I thought I was rich. My Mum would take me to the bank to put it in my savings account "for college". I had a couple of thousand pounds by the time I was 16 as all little odds and ends got put in there.

piggypoo · 01/12/2015 20:04

Our parents started trust funds for our DC's when they were born and contribute to these monthly, and we also put into the accounts as well. Sometimes the DC's opt to save some of their pocket money too!

Kangakate · 01/12/2015 20:22

We've had a savings account for our DC since he was born, we try to add at least £20 a month to it and also and money they get for birthdays and christmas. They don't mind as they earn can by things with their pocket money or if they want something bigger then we discuss it. We just want them to have something for the future like a deposit for their first home, we had no help and really struggled. Were actually considering using their money to put one of our work Share savers scheme, they either then get the money back after 3 years or hopefully will have made a profit that can then be saved. Fairly risk free and gives them a taste of investment

Flossiecrossie · 01/12/2015 20:40

It's difficult enough investing in mine and my husbands future and old age, but I try and be disciplined and build savings for both ourselves and our little ones future into our monthly expenditure. The treats have to wait until we have covered these costs.

turboshandy · 01/12/2015 21:05

I don't believe parents should feel pressured to save for their children, it's expensive enough bringing them up. I think it's more appropriate to invest any money that is gifted to them from others. As my parents were not in a position to save for me financially, I did not grow up with the expectation of a cash handout and do not feel that it caused me any harm.

marshgirl · 01/12/2015 21:05

We cannot afford to save for our child at the moment although it is something I do hope to start in the future.

tanyavt · 01/12/2015 22:04

Start as early as you can- and every little bit helps... it all adds up!

kpdchudleigh · 01/12/2015 22:28

I'm saving currently for my youngest based on having been able to send my eldest off to university with a healthy financial buffer allowing her to relax a little and concentrate on studying rather than taking a term time job.

I put away all I could and kept an eye on the best childrens accounts over the years, saving in NS&I initially and later in building societies, encouraging both of them to invest birthday cash and pocket money for their futures.

manfalou · 01/12/2015 23:11

We put £20 in each childs bank account a month along with any birthday or christmas money. they've both been lucky enough to have been gifted money from their grandparents so we hope by the time they're 18 they will have a good amount to invest in something life changing.