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Figures from Sainsbury’s Bank show UK residents have £13.6 billion sitting unused in current accounts earning them only 0.1 per cent interest.
And there is no reason for this, with instant-access savings accounts offering returns of six per cent or more and current accounts offering up to eight per cent interest, meaning Britons are losing large amounts of cash through nothing more than laziness or disorganisation.
Unit Trusts for Children
Whatever your children or grandchildren dream of doing when they grow up, why not indulge more than their imagination?
Whether they want to travel the world or step onto the first rung of the property ladder, fund their way through university or organise the wedding of their dreams, you can give them a great start in life by investing for their future with a Legal & General unit trust.
One of the best ways to save for your children's future is the Tax-Exempt Savings Plans (TESPs) from friendly societies. TESPs offer parents a simple way to save up to £25 for each family member per month in addition to, or instead of, a CTF.
TESPs can help you build up a lump sum for any child through small regular payments. You choose when the money is available for them, but the policy must run until they’re at least 16 and run for a minimum of 10 years.
TESPs are available for every member of the household so a family of four could save up to £100 a month tax-free and, provided the TESPs have been set up in the parent's names, the money remains firmly under their control. In addition, the flexibility of TESPs mean that they can be set up to mature at different points in a child's life.
Providers with TESPs Engage Mutual Assurance
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Request a Jump CTF or Jump Savings Brochure and receive a free copy of Money: Your Children, Their Future by Sarah Hamilton. Click here for more information.
