When I was pregnant with Bean 10 years ago we thought long and hard about saving for her future. Although money was tight then, we knew that we wanted to set up an account for her to save for her future. We put birthday and Christmas money in there that she was given and we planned to put in a set amount each month so that she would have a nice little pot of money when she is older.
She’s going to be 10 next week and although she does have a nice little sum in there, I’d have liked it to be more than it is. Especially considering how expensive things are now. If you take a look at the infographic below, it is scary to think how much money she would need for a simple house deposit, or to buy a car. It has definitely made me think. Shepherd’s Friendly have some great information online which will help you if you are thinking about are you saving enough for your child.
All of mine have savings accounts, we just need to utilise them properly. If your child doesn’t have an account they are really easy to set up and there are lots of different options from Junior ISA‘s to regular savings accounts. I’d definitely recommend looking into it, and remember that every little bit that you can save counts, and it will all add up in the end.
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Disclosure – this is a collaborative post.