‘Savings!’ Remember that word? With the credit crunch and austerity taking centre stage in recent years, the idea of having a few pennies to put away for a rainy day has felt like a distant memory. This WAS the rainy day. But with a glimmer of light starting to appear at the end of that
Children's savings accounts
It’s a proven fact that those who set themselves a specific savings goal are more likely to achieve their target than those who simply save willy-nilly. And seeing your savings balance creep upwards each month is the ideal incentive to keep going. The start of a new year is the perfect time to begin your
Whether you’re adding money to help them along in the future or whether they’re saving their pocket money for something special, children’s savings accounts can be a great idea. As well as teaching kids the valuable lesson that saving pays off, a good savings account will add interest, meaning their money is earning more cash.
If your child was born between 1st September 2002 and 2nd January 2011 then they should have a Child Trust Fund (CTF) account in their name. These were initially designed to encourage parents and other family members to save for the child’s future. With the introduction of Junior ISAs for children born after this point,
As a youngster, I thought that if you needed money, you either got some out of your purse or went to the bank. Whilst that is true to a certain extent, it isn’t really the whole picture. If you want your children to grow up understanding the value of money, it’s important to start teaching
If you earn over £9,440 (current threshold for 2013/14) per financial year, you have to start paying tax on income. While this is most commonly for your salary, it also includes any interest earned on savings. In order for your savings to generate as much as possible, it’s important to take advantage of tax free