Loading ...Getting started with childrens saving accounts explained
Teaching children how to look after their money at an early age will prove invaluable to them in later life – not to mention provide them with a nest egg for their first home or car.
First, though, you need to decide between the various options open to parents and other adults saving for children. Are you looking for an account into which they can deposit Christmas and birthday money and access from time to time, or you do want a longer-term savings vehicle to invest for their future?
Children’s accounts are nearly always pitched at a slightly higher level of interest than adult ones, so you should be able to find an attractive deal. However, the interest rates and returns on offer vary widely so it is vital to shop around.
