Joined: 11 June 2005 United Kingdom Posts: 6098 Gender: Female
Posted: 21 August 2005 at 2:28pm | IP Logged
That's what we are going to do too Vix. That way you are guarenteed the money, plus we won't pay anymore into that actual account as I think too much money at 18yrs old might not be a great idea. I would like to open up a different savings account for Ollie that we can pay in for Uni fees etc and that way we at least get some control over it but with the child trust fund at 18 they can do what they want with it.
Joined: 11 June 2005 United Kingdom Posts: 8780 Gender: Female
Posted: 21 August 2005 at 2:54pm | IP Logged
I can't save to save my life, so it's going to be a real test for me over the coming years. I'm determined I am going to save for a holiday for the whole family to Disneyland Florida for Fred's 11th birthday. I always give the kids something big on that one, as it was supposed to guarentee they all had at least one holiday when they were young, but ds2 ended up with a quad bike as he's like his dad with the farm, and now dd has decided she wants to go mega clothes shopping for her birthday, bang goes my holiday next year! lol
Joined: 17 July 2005 United Kingdom Posts: 34 Gender: Female
Posted: 22 August 2005 at 9:23am | IP Logged
The teddy trust is really good-they invest the money for you. Its a better way of making a decent nest egg as it won't make very much in a normal savings account.
Joined: 11 June 2005 United Kingdom Posts: 6098 Gender: Female
Posted: 22 August 2005 at 9:32am | IP Logged
What is their interest rate and who do they invest the money with? They don't appear to have a website. If you know Salcat let us know please.
Nationwide and Ipswich building societies are the highest paying interest rates for a straight savings account, there are lots of other options such as stakeholder savings but they don't guarentee like a straight savings account does.
Joined: 08 July 2005 United Kingdom Posts: 2517 Gender: Female
Posted: 24 August 2005 at 2:06pm | IP Logged
I put mines in abbey the other day there - I wanted a savings account for him not a stakeholders account - Im happy with it though! I can't believe it took me 4 months to do it though! But it's in now and growing
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Topic: CHILD TRUST FUND
