Invest in your child’s future

With the arrival of a new baby, there are a number of things you need to think about. Is the nursery organised? Will they sleep OK? Has the pram arrived yet? The list is endless. However, amidst all these thoughts that preoccupy your unbelievably tired mind, have you ever wondered what a junior ISA is? Perhaps not, but it’s important that you start to.  

As soon as your child is born, you need to start considering their future. The economy is notoriously unstable, and therefore it’s crucial that you set your own financial plans in place just in case the worst happens. This is where Junior ISAs come in. 

Acting as a safety net for when your little ones get older, Junior ISAs are trust-fund type accounts that allow you to invest in your new-born’s future. Contributing a maximum of £3,720 for the new tax year, this scheme is a great way of encouraging you to put some cash to one side each month; or whenever you have it (tax free) until your child reaches the age of eighteen. Once this milestone arrives, they are then left responsible for their money. 

Still plan to leave your child’s finances up to chance? Here’s what they could miss out on…

First home

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Moving into your first home can be a life changing event. At last, you’re able to enjoy some much needed freedom and brave the big wide world. However, this new independence does come at a price; deposits, mortgages, not to mention new furniture, it all adds up. That’s why it’s a great idea to provide your child with some extra money in preparation for those expensive years ahead. So why not start your kids on the right path with a Junior ISA? Dedicating a certain amount of cash each month to your child’s account could really make a difference to the quality of their adult life. 


Another expense which tends to take its toll on the bank accounts of the younger generation is the cost of education. Today’s job market is extremely competitive and those without a degree tend to be at a huge disadvantage. It appears that in order to stand out to a potential employer, young people need to have a CV that’s all singing, all dancing. And for this reason, in many cases, attending university is an absolute must. However, this is becoming more and more difficult for students as the fees continue to rise.

At the moment, the average tuition fee costs approximately £9000 a year, and this is for their degree alone; aspects such as accommodation, transportation and bills are yet to be taken into consideration. So the question is, would you want your child to be in thousands of pounds worth of debt before they’ve even started their career? It’s definitely something to think about.

Gap Year

For some teens the idea of going to university is not for them, and alternatively, they’d rather absorb some culture and see the world. Whether it’s backpacking across Southeast Asia, or volunteering in India, there are a whole host of new and exciting adventures just waiting for your kids to explore. However, the only issue is that in most cases money is needed to fund these Gap Year experiences. It may not be a huge amount, but the cost of flights and insurance needs to come from somewhere.  People say that the world is your oyster, but it’s only if you make it; so lend you children a helping hand. 

Whatever they may plan to do in the future, it’s important that you provide them with the means to do so.