How can I encourage my small granddaughter to get the "saving bug"? |
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Source: Financial Mail Women's Forum, 25th September 2010 I would like to teach my 8 year old grand-daughter the importance of money and saving. Can you recommend any fun accounts that educate and inspire children while providing a decent return on interest? She will have £25 per month to invest. Patricia, Somerset We would suggest that the best way to start teaching children about the importance of saving is to involve them in the entire process, including selecting the best account. Comparison websites such as Moneysupermarket or Moneyfacts will list the various accounts available and could be used as a starting point. Children’s accounts generally operate in the same way as adults' accounts and the only difference will tend to be the branding and the free gifts on offer. You may find it helpful to select an account that offers online access so that you and your granddaughter can regularly monitor and make transactions on the account. Lesley Collins, Chief Executive, Independent Women |
