Giving children a step up the financial ladder

investing for children

All parents should start thinking of saving for their children because the costs of raising a child are estimated to amount to &153,600.

Raising a child has never been cheap, and with parents increasingly being encouraged to think of saving for their child's future from the outset, it is becoming more expensive. The Chancellor has given every parent throughout the UK the opportunity to do precisely this through the initiation of the Child Trust Fund (CTF) scheme. Driving this policy is the objective of giving children a financial nest egg to help them embark on adult life when they turn 18. Research carried out by the Centre of Economic and Business Research in 2004 estimates the total cost of raising a child from birth t...