Tuesday 27th September 2016

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Ways for Children to Save

Children over the age of seven can manage their own savings account, and the feeling of importance they get from having an official signature might even make them want to visit the bank or building society more often, hopefully to make deposits rather than withdrawals.

By and large the savings accounts that offer a cash card do so for the over-11s only, helping the younger ones to avoid temptation.

Regular savings accounts often offer the best rates, and are a good discipline to get into, but they may have severe penalties in terms of loss of interest if you miss a monthly deposit or make a withdrawal.

View another relevant article here, giving information on Ways To Save For Older Children.

More information on F&C or F&C Website.