Not all children ‘would be interested in taking financial advice’
February 9, 2008 by admin
Filed under News, News-Banking
Children would benefit from more financial education in order to make the most of their Child Trust Funds (CTF), but they might not “necessarily be interested in taking that kind of advice”, claims a financial expert. 
Ark Financial Planning said that although there are children who have been made aware of the ‘value’ of money, there are more who are concerned about what they can do with it rather what it can do for them.
Phil Perry, a spokesperson for the company said that issues arise when attempts are made to label money in funds for educational costs when not everyone wants to go to university.
“I certainly think the government need to have a little bit more idea on what they expect that money to be used for,” he added.
CTF are saving accounts for children and those born after September 1st 2002 who receive a £250 voucher to start their account.
According to reports in the Daily Telegraph, those children born within a year of the September 1st 2002 can expect windfalls worth a total of £2.4 billion when they reach 18 years of age.
Parents should invest in fund for their children
January 10, 2008 by admin
Filed under News, News-Banking
Parents should consider their child’s future by investing their money into a deposit-based Child Trust Fund (CTF) claim financial experts. 
Fair Investment Company suggested the savings option as an alternative to buying presents and gifts as figures from MoneyExpert predicts that relatives have given children in the UK £2.4 billion this Christmas.
James Caldwell, Fair Investment director, said: “Deposit-based Child Trust Funds could be a good way of investing money that might otherwise be frittered away.”
“Your children are likely to thank you when they hit 18 and find they have a substantial nest-egg waiting for them,” he adds.
According to the body, all children born on or after September 30th, 2002, and in receipt of child benefit are eligible for a CTF and £1,200 can be paid into the account tax-free each year.
The Fair Investment Company has recommended that consumers should ensure their home contents are covered by insurance after figures from MoneyExpert revealed that £384 is the average spend on presents at Christmas.
