Christmas gift for your child’s future
Why not give your child the gift of saving for their start into adulthood this Christmas
Choosing the right gifts for young children at Christmas can be tricky especially when they change their minds so much and often prefer playing with the box than what’s inside! So why not take this year to think about a present that will be a gift to start them off on their journey into adulthood.
Christmas is a great time to think about starting a child’s savings plan and can be a thoughtful gift for your child’s future, whether providing them with the funds towards their first car, deposit on a house, or even helping them with their university tuition fees.
Research carried out on Shepherds Friendly’s website discovered that over 100 parents asked, these are the top life events parents are saving for:
- 55.5% of parents saving towards university costs
- 18.2% of parents saving towards helping their children put a deposit on their first house
- 14.5% of parents saving towards their child’s first car
- 1.8% of parents saving towards travel opportunities for their children
- 10% Other
If you’re looking to start saving for your little one’s future, there are a range of savings to suit your needs. Shepherds Friendly offer a range of child savings plans such as the Junior ISA which a parent can set up for their child, allowing you to save from £10 a month tax efficiently.
Shepherds Friendly all offer the Young Saver Plan which can be set up by anybody for a child that is under 18 years old. With the Young Saver Plan, you can start saving from £7.50 a month for a child up to a maximum of £100 a month, with the child receiving a tax-free lump sum upon maturity of the plan.
It’s never too early to start saving for your child’s future and help prepare them for the future goals they want to explore. Having a saving plan for your child can also help your children to start understanding the value of money from a young age. Teaching children about managing money from a young age can help them develop good habits and positive attitudes towards saving and spending.
Find out more about saving for your child’s future with Shepherds Friendly by clicking on the button below.
*Please remember, when you take out an investment product with us your capital is at risk and you may get back less than you have put in. In poor investment conditions Shepherds Friendly may apply a Market Value Reduction (MVR)