Children Savings News

Junior ISAs

Child Tax Exempt Savings Plans

Children's Savings Plans

Child Trust Funds

Making Parenting Affordable

Spending Wisely

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Ask the Experts is MyEggNest's free service for questions on Junior ISAs and any aspect of family finance.

Ask our Independent Financial Advisor Steve Weisner a question here.

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Child Tax-Exempt Savings Plans

Did you know that Children's Tax-Exempt Savings Plans (TESPs) also provide a long-term, tax-free way to save for your children's future?

Click here to find out more about a tax-efficient way to build up a nest-egg for your child in addition to a Junior ISA, and compare providers.

Free Prize Draw

Enter our FREE Prize Draw and one lucky winner, chosen at random, will receive £250 added to their Children Savings Account.

MyEggNest is proud to support Get Connected.

You can learn more about Get Connected, a free, confidential helpline for young people, here.

To find out how you can make a donation, visit www.getconnected.org.uk.

February 2012 Newsletter

MyEggNest Child Savings News

Feb 2012 Tips and news from MyEggNest.com

Saving for your child in the new year

With a difficult financial year behind us, parents looking to change their money habits this year have been giving attention to children's savings options on the market.

Parents concerned about September's tuition fee hike may be especially interested in saving as tax-efficiently as possible for when their child begins young adult life - students starting this year could face up to £50,000 in fees and related costs for a three-year degree.

Any child who did not qualify for the Child Trust Fund is now eligible for a Junior Individual Savings Account, or Junior ISA, which is available in a Cash or Stocks and Shares version. In addition to a Junior ISA, parents can benefit from a tax advantage available only with Child Tax Exempt Savings Plans (TESPs) offered by friendly societies. Child TESPs allow further investments of typically around £10 - £25 per month - though Shepherds Young Saver Plan is an exception with its £7.50 - £100 limit.

Compare and read more about Junior ISAs
Compare and read more about Child TESPs

Junior ISA Freebies

Now that the Junior ISA has been launched, providers are pulling out the best deals they can offer to get their share of the new account's new market - including a variety of welcome gifts for early applications. Have a look at these Junior ISA extras on our Comparison Table!

Children's Savings

Take a look at how your Child Trust Fund is doing

Featured Review

Family Investments

"Family Ivestments has changed a number of times but has always kept my children's accounts the same as when I first set them up with the options to change. Staff have ecellent telephone manner and are very quick to bring up accounts if you have the revelant information. There can be a long list of security questions to follow but gives you the reassurance that the account is safe from others. There can be alot of junk mail to follow setting up an account with them though. 9/10 I would rate them as I feel I have chosen the best company to place my children's money." posted by Hayley

Overall rating: 5/5

Click here for more reviews on all types of children's savings.

News

High interest accounts still out there

With inflation higher than ever and interest rates at an all-time low, many child savings accounts give less than appetising interest rates. However, for those parents willing to put in a little effort it is still possible to find accounts with good interest rates for their children's nest egg. Read more

Parents have not invested CTF voucher
Figures from HM Revenue & Customs show that 136,000 Child Trust Fund vouchers still have not been invested - one quarter of the amount issued in the 12 months up to June 2011. Those who do not invest the vouchers themselves will automatically be allocated a default stakeholder account, which may not be the most suitable for their saving needs.

Children and tax

While all parents wish to save for their children in order to give them the best start in life, many believe the myth that children are exempt from taxation. Sadly this is not true, and children are taxed just like adults, at their parents' tax rate.

Ask our Expert a question

Ask the Experts is MyEggNest's free service for questions on children's savings, or any other aspect of family finance. Ask our Independent Financial Advisor Steve Weisner a question here.

Get Connected: Charity Comedy Night - Sat 11th Feb

On Sat 11th February, London's Bloomsbury Theatre will be host to a Charity Comedy Night in aid of PensionCalculator.org's charity of choice Get Connected - the free helpine for young people who know they need help, but don't know where to find it.

Line-up includes Brendon Burns, Sara Pascoe, Ed Aczel, Carl Donnellu, Colin Hoult, Rich Fulcher, Matt Lacey and Norman Lovett. Click here for more information and booking

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