by 6 people |
Childrens savings accounts
In the UK, the single, easiest, safest, most cost effective way to save towards your childrens future and get contributions from the government is to get a savings child trust fund
Child trust fund providers
- Family Investments - UK's leading Child Trust Fund provider with over 450,000 savings accounts and the provider behind Child Trust Funds from Barclays Bank, the Post Office and Sainsbury's Bank, and many more
- Abbey National offer the Childrens Saving Bond Account and also a choice of opening gift. Under 18 or investing on behalf of someone who is? This bond will guarantee an interest rate of 5.70% gross p.a. for 4 years - a good return and a safe choice as long as you dont need the money within the 4 year period!
- First Saver Child Account with Alliance & Leicester. A relatively straightforward childrens savings account with, instant access, no ties and an attractive interest rate with good flexibility.
- Barclays junior barclayplus children's saving account - Open with as little as £1. Get instant access to savings. The more you save, the higher the interest rate applied with a tiered scale.
- Britannia first saver children's saving account. from £1 up to a maximum investment of £20,000. Instant access to your money and easy withdrawals. After age 12 children can have their own cashcard.
- Chelsea Ready Steady Save Children's Saving Account currently offering one of the highest rates in the UK.
teaching kids about savings accounts
Raising Financially Fit Kids
Money is often a difficult subject for parents to address. This book aims to help parents educate their children and turn them into financially savvy adults. There are 10 specific skills that can be mastered by children ages 5 through 18. Including saving, keeping track of money, spending wisely, living on a budget, investing, handling credit responsibly, and using money to help others.
Amazon Price: $13.57 (as of 11/10/2009) 
Raising Money Smart Kids: What They Need to Know about Money and How to Tell Them (Kiplinger's Personal Finance)
With every generation kids seem to have more money available to them than their parents did - and less idea how to manage it! Most kids just learn to spend it as soon as they get it. This book deals with money and financial responsibilities concepts from preschool to teenager and could be one of the most important lessons you can ever teach your child.
Amazon Price: $16.20 (as of 11/10/2009)
Money Doesn't Grow On Trees: A Parent's Guide to Raising Financially Responsible Children
How to instill proper financial values in our children laid out in simple steps, teaching kids about savings accounts, financial planning, consumerism and the value of money
Amazon Price: $10.08 (as of 11/10/2009)
Clark Smart Parents, Clark Smart Kids : Teaching Kids of Every Age the Value of Money
This book enables parents and grandparents to pass on skills for saving and spending wisely to kids of every age. designed to help parents teach kids of all ages real-world financial skills for today. Simple uncomplicated advice across a comprehensive range of important financial topics. Everything from allowances, credit cards, purchase of a first car, saving for college, paying off loans, staying out of debt, and much much more - highly recommended!
Amazon Price: (as of 11/10/2009)
Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not!
This unique economic perspective was developed from the authors exposure to a pair of disparate influences: his own highly educated but fiscally unstable father, and the multimillionaire eighth-grade dropout father of his closest school friend. (that "the poor and the middle class work for money," but "the rich have money work for them")
Amazon Price: $11.02 (as of 11/10/2009)
Parents Feedback on children and savings
Share your links and feedback regarding your children and finances
Know of a particularly good way of encouraging children to save? Have you had any bad experiences with finincial institutions with kids savings? Do you have a child savings trust account already and want some more information? Do you have a related lens or website that you fell should be listed here?
PatnGina wrote...
Also in parenting and kids category and a fellow SSS member http://www.squidoo.com/Santa_letter_and_Santa_phone_call/
Letter from Santa and Phone Call from Santa are Christmas traditions that live on year after year! These Favorite Christmas Gift ideas will light up a childs eyes and bring a wide smile. And... are the memorable moments that we will chersh forever! You can order them for your child right here!
Posted December 07, 2007
Childrens savings regulators and resources
- Inland revenue child trust fund website
- Child Trust Fund (CTF) is a savings and investment account for children. Children born on or after 1 September 2002 will receive a £250 voucher to start their account. The account belongs to the child and can't be touched until they turn 18, so that children have some money behind them to start their adult life.
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by justanormalguy
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