How To Save Money For Your Children
Show me the money.....Dad! Are you saving money for your children? If not, I would urge every parent to get organised and start building a nest-egg now. If you have started already, great, but read on. I have saved for my two children since they were born. A modest direct-debit goes out each month. Already I have four-figure sums saved for them. By the time they hit adulthood, I would hope to have grown this more. I am not doing anything ground-breaking. You would be surprised, how much you can grow money in an eighteen-year period. The power of compounding (more on this later) means you can leverage time, by saving regularly and growing a decent return. In this post, I'll show you my approach and what I believe parents can do to save. I am no financial advisor, just a parent, trying to save for his kids. However, this approach would also work for parents wanting to save for themselves. These tips are aimed mainly at British parents, but some of the principals can be applied univ