Looking after the kids
At this moment in time a great number of adults up and down the UK are struggling to meet the everyday cost of living with very little money left over for savings. However, when the UK economy finally does recover and the employment market picks up again there will be money for discretionary spending or discretionary saving. So how can you look after the kids for the future?
More and more people are setting up savings accounts for their young children and placing as little as £10 a month into these accounts in the knowledge that by the time they are 18, 21 or any other predetermined age, there will be a significant amount of money available to them. When you also take into account interest on savings accounts, no matter how small, this can add up over the time period at which you are looking.
For those who are a little more adventurous there is the option to invest in general investment funds which should follow the trend of the overall worldwide stock markets if the chosen investment manager has their wits about them. As the cost of living continues to rise there is no doubt that your children will thank you one-day if you're able to hand over a "pot of money" to help them start a new life and a new family.
Share this..
Related stories
Three quarters of homeowners to avoid Hips
As the furore over the introduction of Home Information Packs (Hips) continues, property website Rightmove has reassured sellers that only 25 per cent of home owners will be obliged to have a pack.The news comes as the government has decided that only households with four or more bedrooms will have to have a compulsory Hip as standard.According to Rightmove, only 221,954 larger properties on the m...
Read MoreRoyal Bank of Scotland allegedly owed £500 million by failed Icelandic bank
In a further blow to the battered reputation of Royal Bank of Scotland, it is alleged that the company is owed around £500 million from failed Icelandic bank Glitnir. This has only emerged months after the collapse of the Icelandic banking system, a collapse which saw a number of banks taken over by the Icelandic Financial Supervisory Authority, leading to 8,500 creditors are stepping forward wit...
Read MoreLloyds bank to decide on £10 billion rights issue over next seven days
It is rumoured that Lloyds bank will decide whether or not to go ahead with a proposed £10 billion rights issue by 23 October. Market insiders have suggested the company is coming to a critical point in its refloating and refinancing of the operation, something which will need the go-ahead from the UK government, the Treasury and various financial regulators. This is a very important period for L...
Read MoreHSBC announces £12.5 billion rights issue
One of the strongest banking companies in the world, HSBC, has today been forced to go cap in hand to investors for an additional £12.5 billion after announcing a rights issue. The heavily discounted rights issue is vital to enable the other company to increase its Tier 1 capital ratio after taking a severe hit from its US operations. However, unlike Royal Bank of Scotland which had been criticis...
Read MoreGeorge Osborne to open UK treasury books
In a move which is as controversial as it is significant for UK taxpayers, George Osborne has today announced plans to open up the UK treasury's books. In simple terms, around 1 million different spending items and spending programs will be details for public viewing via a user-friendly system which will be available to all. Previously the treasury has been dead set against announcing details o...
Read More