A recent survey indicated that over 30% of parents and grandparents are saving for the benefit of their children. Indeed, despite the recent recession, one in ten is saving more than they were a year ago.

However, despite the fact that childhood is a long term experience –up to 21 years of food, pocket money and support through college or university – over half these savers are using only deposit accounts to build a lump sum.

This is perhaps understandable given the stock market worries of the recent past. However, over such a long period, using only cash as an investment puts the value of those savings at significant risk – from inflation.

Considering your options

Saving relatively small amounts of money from an early age is a very good way to see your savings grow quickly and the resulting lump sum can help cushion the burden of future events – university, wedding or perhaps finding a deposit for a house.

How much risk you are prepared to take to get there is always one of the most important questions to ask yourself but, over such a long period of time, considering taking at least a small risk could offer a much better result.

Find the right solution

There are a whole range of different options to suit many different circumstances and I can help you find the right one.

By keeping up to date with developments across the whole market, we can assess your personal situation, outline what the different options mean for your child’s future and tailor a solution specifically to meet your individual needs.

If you would like more information on how you can make the most of the money available to your child, please get in touch or sign up for my email newsletter to receive a free guide to children's savings.

* Source: Ballie Gifford, Saving for a Child survey 2010, published Oct 2010.