Click the logos to read 100% independent expert analysis and hundreds of customer reviews. Or scroll down to find out more about how junior ISAs work.
These tax-free savings accounts allow you to build up a nest egg for the kids. You can open a cash one or a stocks & shares one and anyone can pay into this until your child’s 18th birthday. To be honest, if you're saving for at least 10 years (ie if Junior is 8 or under) then sitting in cash for this long and not harnessing your lot to the world's leading companies is a bit pointless......
If you can spare £25-£50 a month, or have a lump sum of about £500, you can usually set up a JISA.
These make sense for higher-income earners looking to keep as much away from the taxman as possible. You can use your adult ISA allowance of £20,000 x 2 AND the Junior ISA allowance of £4,260 per child. That's a big annual stash to shield from the tax man.
Over the long-term, shares will typically do better than cash. If your child is under 10 you really should be at least considering the stock market for these long-term savings.