Even if they just start off with a piggy bank, teaching children the habit of saving is one of the best long-term gifts you can give them.
Although children don’t usually have income of their own, what they do have is time on their side. The earlier you start them off saving, the more chance the money has to grow. This can be particularly welcome when, for example, they need funds for higher education or buying their first home.
You can start your kids off with savings plan designed especially for children. There are many ways you can save for children. You can set up children’s accounts with banks or fund houses, or fixed income instruments. And not a lot of people know that you can even start a pension for your child, a radical idea, but the rewards can be dramatic.
Start planning for your child’s future today by getting advice from a PWM who can help you on the road to building up their savings.