junior isa

Computer says no: why I cannot open a Junior Isa

While some say it is never too early to teach children the value of money, I think an exception can be made for the newest addition to our family, lockdown baby Theodora May, who at the time of writing is five weeks old.

Amid getting to grips once again with irregular sleeping patterns and regular nappy changes, a task that has crept its way on to the to-do list is: open a Junior Isa account.

Which Isa is the lockdown winner: mine or my son’s?

The coronavirus market sell-off has been painful for investors, but when comparing the performance of my stocks and shares Isa with my son’s Junior Isa, there’s been one clear winner – me.

Does that make me a bad father? Well, I suppose that’s for my son to judge in 16 years’ time, when the key is effectively cut and handed over to him to do what he pleases with the money. By then, though, I hope the investment trust I selected for his Junior Isa will have outshone the small number of funds and investment trusts I hold in my Isa.

Age-related white-lie telling: would you?

Tell the truth” is one of the first verbal rules parents attempt to instil in their children; but when it comes to securing an age-related discount, hypocrisy tends to set in. According to a survey by MoneySavingHeroes, an online voucher code business, 62% of UK parents have lied about their children’s ages, with 40% of those admitting to fibbing frequently in order to get their children into places for free or claim discounts for young children.

The most popular age-related white lies are told to bag travel, theme park, restaurant and cinema discounts – saving £47 on average.

Buying premium bonds for children just got easier

Anyone can now buy premium bonds for children, including aunts, uncles and family friends.

Previously, only a parent, grandparent or guardian could buy premium bonds in a child’s name.

This change to premium bonds was first announced in the October 2018 Budget and is aimed at creating a stronger savings culture.

This latest improvement to premium bonds follows the reduction of the minimum investment from £100 to £25 in February this year. The maximum that you can spend on premium bonds is £50,000.

Junior Isas: why I don’t follow the flock

A couple of weeks after my son was born 18 months ago, I decided to take time out from the nappy-nap-burping carousel to set up a Junior Isa. I invested the money, which puts me in the minority of parents, as most opt for the safer option of cash. But given the long time horizon, the odds are firmly stacked in favour of investment winning the growth race.

Which is the best Isa for my age group?

Individual Savings Accounts (Isas) are a useful way to stash up to £20,000 each tax year in a wrapper the taxman can’t touch. They remain popular with savers, who poured a record £608 billion into adult Isas in 2017/18. But the focus is shifting. With interest rates on cash Isas pitifully low and the personal savings allowance exempting most people from paying tax on their savings, cash Isas’ popularity has waned, while inflows into stocks and shares Isas have hit new highs.

Prudent Parent: avoid this common Junior Isa mistake

I felt a bit mean at Christmas 2017. With my son only a couple of months old and dribbling being his main hobby, it was decided that the only present under the tree for him would be something he won’t get his hands on for at least 16 years – a Junior Isa.