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.
