A A A |
Close window

Email address and password did not match

Forgotton your password? Click here.

| follow us on twitterfollow us on facebook

Survey says your grandchild is likely already saving for university

Created by Arabela in Saving for grandchildren




Growing up in a recession has made today’s children, tadalafil even as young as 10 years old, cialis more financially aware and savings savvy than the previous generations. A new report has found that in addition to stashing away their pocket money for toys and sweets, cough they’re already saving up for “key milestones” including university and purchasing their first home. A small percentage of budding 10-year-old entrepreneurs are even saving for their first business!


Financially savvy children

 

Though many would argue that kids should be kids, without having to worry about finances, the difficult economy is making savvy savers out of our children whether we like it or not. 11% of children questioned in a Scottish Widows survey said that they were already saving towards buying a home or the cost of higher education. We should embrace our grandchildren’s financially savvy ways, and help to foster the savings habits that can see them through tough times throughout their lives.

 

In fact, it’s incredibly smart to start saving now: children face tuition fees of up to £9,000 a year if they choose to attend university, and will typically need 20% of the cost of their house in cash as a deposit when they choose to get on the property ladder. To meet these difficult financial barriers head-on, children – who receive as little as £5 to £9 a week in pocket money – are saving a portion of their money, while 10% save every pence that comes their way.

 

Helping grandchildren achieve their goals

 

If you want to encourage your grandchildren to continue saving, a good idea is to match their savings contributions with your own, or put a set amount of money aside for their future each month. Grandparents who want to save for their grandchidren’s future are spoilt for choice, as there are many tax-free savings accounts specifically geared towards long-term children’s savings available.

 

One option is the Junior ISA, which allows you, your grandchildren, their parents, and anyone else to work together to contribute towards their future. The money in these accounts is not available until children turn 18, so you’ll know that it won’t be spent on the latest gaming system or gadget before they become adults and truly need their nest egg. Junior ISAs are available from Shepherd’s Friendly, which also offers a University Savings Plan for parents and grandparents that want to save specifically towards their children’s education.

 

Whatever savings product you choose, remember that anything investing in a “fund” means that your investments will go up and down with the market, and you’re not guaranteed to get back as much as you put in. However, these usually do offer more growth over the long-term (a decade or more) than traditional savings accounts, which are guaranteed.

Print Friendly


Print This Post Print This Post

LATEST ADVICE
jane-jacksonbw

We need to self protect

Since I set up the support group for grandparents who are denied contact with their [...]


ask-jackie

Ask Jackie: denied access but wanting to open bank account

Q: Hi, I have a son who is denied access to his children as are [...]


ask-jackie

Ask Jackie: special guardianship allowance

Q: Hi Jackie, viagra 40mg  I’m not a grandmother but an aunt who has taken [...]


twins

Are you expecting twins?

We all know how exciting it is when we find out we are going to [...]


Kraamartsq

Kraamzorg UK to offer lifeline for new mums and dads

Granny to the rescue! Are you worried about how your expectant daughter or daughter-in-law will [...]


JenniferTbw

A little something for September…

Every so often something goes on the forum that we all think should be shared [...]


food-guide-rome-1

Food destination guides inspire us to stay off the chips!

There are certain times in our lives when we want to stick with what we [...]


Holiday150

Have you booked your travel insurance yet?

Why book travel insurance?   Holidays are what many of us look forward to throughout [...]


Austrian Alps150

Summer hiking in the alps

Famed across the world for its supreme skiing, medicine the Alps stretch across thousands of [...]


asthma

What to Do If a Child Has an Asthma Attack at School

If getting a call from the school nurse can be unnerving, clinic hearing that your [...]


genkeane

Top tips on taking care of your grandchildren’s teeth

I am so saddened to see the latest figures for children’s dental decay; three in [...]


cerebra

Learning Disabilities, Autism and Internet Safety: A Parent’s Guide

A new guide to help parents of children with learning disabilities and autism [...]


appleandpeartart

Rustic pear and Bramley apple tart

Weather conditions this year have been ideal for the apple harvest and right now is [...]


Patrick Drake150

Moroccan spiced lamb with sweet vegetable stew

Patrick Drake, co-founder and Head Chef of HelloFresh.co.uk commented, “We’ve been hearing all sorts of [...]


pizzas150

Fussy eaters

What’s the fuss? Anyone with children will know that when it comes to eating, for [...]


Vaseline

VASELINE HEALTHY HANDS

I found this to be a great all day cream, it was easily absorbed and didn’t leave a sticky residue. [...]


AvonAnew

AVON ANEW HAND CREAM

Very thick and luxurious with a pleasant fragrance. Felt more like a special treatment than [...]


Little bird jeans

LITTLE BIRD JEANS

I received several items from this range to review; a Fairisle cardigan, denim jeans, a long sleeve [...]


Poplico

Poplico Pram Gloves £21.00

fanny-quiz2

A weekly fun & educational quiz to enjoy with your little ones

Copyright © 2012 Grannynet.co.uk Ltd. All Rights Reserved. Website Design and SEO by Brightenearly Ltd