Wouldn’t you love your child to be able to afford a deposit for a house when they’re older? Whilst you yourself may have struggled to afford to buy your own place and been forced to wait years to be able to put together a deposit, wouldn’t you like it to be different for your children? Through opening a junior ISA and saving regularly for them that can be a reality and we’ve teamed up with the guys over at My Family Club (visit their website here) to look at the benefits of opening one and why it makes absolute sense!
First things first, once you’ve put money into a junior ISA, it can’t be taken out by them until they’re 18, ensuring that it’s there for when they’ll need it and that there’s no temptation before! Once it’s in it’s in, earning interest and building up year on year! You can add up to £3,720 per tax year, however you don’t have to put in that much, of course! Add as much or as little as you can afford, after all, every little helps!
With this in mind, it couldn’t be easier to open your child’s ISA online and in just a few simple steps you can have an account opened and ready for you to deposit! Christmas money, birthday money, it can all go in there with you knowing that it’s going towards your child’s future! At the moment, the property market is bleak and once your kids are old enough to be buying, things could be even worse! They’ll need all the money they can get and what better a reason for you to start saving for them than that!
It’s as easy as anything to open an ISA and if you want, you can set up direct debuts each month to automatically add a little to their savings account! Even £10 a month could make all the difference (by they’re 18, that would be £2,160 in deposits alone) and for your kids future, it’s more than worth it! Think about it and if you’re sold on the idea, apply online for a Junior ISA today!