Dec 31 2008
The festive season is an ideal time for parents and other relatives to save for children, a number of industry experts have said this month.
Commenting on the issue, Guy Knight, director of the Share Centre, stated that people should top up their child trust funds (CTFs) over Christmas.
He said: "The vouchers are a great start for a child, but unless a parent or grandparent tops it up it is not going to be worth a huge amount."
Mr Knight pointed out that a maximum of £1,200 can be put into a fund per year.
http://www.savingforchildren.co.uk/Parents-urged-to-top-up-CTFs--181_1_18948443.html
Meanwhile, Tony Vine-Lott, director-general of TISA, suggested that friends and family will often give money to children rather than risk buying an unwanted present.
He said that this provides parents with a perfect opportunity to make contributions to their offsprings' CTFs.
According to Mr Vine-Lott, adding to such funds gives youngsters a "present that will grow in value over the years".
http://www.savingforchildren.co.uk/Christmas-ideal-for-CTF-contributions-181_1_18926564.html
While increasing the nest egg of children has been described as a popular Christmas gift, a study conducted recently by Family Investments found that 64 per cent of parents questioned were too uncomfortable to bring up the subject of savings contributions with grandparents.
This was despite the fact that more than half of respondents reported that they would prefer grandparents to contribute money than other gifts.
http://www.savingforchildren.co.uk/Parents-would-like-festive-investments-to-be-made-in-children--181_1_18924487.html
In other festive news, the Children's Mutual recently advised that parents who opt to give up smoking as a new year's resolution could use the extra money they have at their disposal to save for children.
Figures produced by the organisation suggested that smokers who drop a five-a-day habit could save an average of £40 a month, which could be used to top up trust funds and other accounts.
Marketing director of the Children's Mutual Tony Anderson said: "What better incentive could there be for sticking to a resolution than the knowledge that, as well as improving your own long-term wellbeing, the commitment could further benefit your children as they enter adulthood in the years to come."
http://www.savingforchildren.co.uk/Give-up-smoking-and-save-for-children%2C-expert-advises--181_1_18950196.html
Meanwhile, research published by Halifax this month indicated that 36 per cent of people would consider opening a child savings account as a gift over the festive season, while 31 per cent reported that they or their relatives put money into such an account each year.
http://www.savingforchildren.co.uk/-Many-people-to-add-to-child-savings-accounts-for-Christmas-181_1_18936332.html
