Kids/new baby saving or isa thingy?

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  • Kids/new baby saving or isa thingy?
  • dh

    Do junior number 2 has arrived and the government don’t do the child saving thing they did a few years ago that his big sister got £500 iirc so it seems only fair for me to put down £500 myself for his future somewhere.

    Any advice as to where is best? I was thinking a junior Isa but maybe a more normal kiddies saving account. I can’t see. Myself depositing much into either each year from the basic £500 if that makes a difference?

    Scratch cards perhaps?


    halifax do a good childrens saving account.


    so do you think a savings account is maybe a better bed that the isa? i dont mean to pin you down to it or anything 😀 – just i dont really have a clue about things like this.


    Hello Mrs Bullheart here, I had the same dilemma with calfheart so thought I’d post.

    Check out money saving expert as it has a good article with the pros and cons of different options. I didn’t like the idea of the junior isa as you can’t take money out of it at all and it automatically becomes the kid’s at 18 – just when they are probably way off the rails and ready to spend it all on drugs and alcohol…


    Like bullheart I was worried about the ‘control’ element, but I’m hoping we’ll have a couple set up for her, most of which will be under our control, if she wants to blow some on a car / travel then thats her lookout, the other 10k are going to something useful.

    I think the Halifax thing means you need an account, but you can open one with £10. Otherwise there’s NS&I bonds.


    To be honest if you’re just thinking about investing the £500 and that’s it during 18 years I wouldn’t worry too much about the control thing. Heaven forbid they blew it all on one beer or something in 2030… 😀

    We’ll doing something like pieface – Junior savings that baby breathe can spend as she likes (hopefully at university….) and a savings account we can choose to give her whenever, maybe as a house deposit.

    If you’re not using your own stocks and shares ISA maybe put it in that. That way you could keep it seperate from any cash ISA you have.

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