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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.

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