Child Trust Fund moan!!! - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

Child Trust Fund moan!!!

wookiemummy Avatar
7y, 11m agoPosted 7 years, 11 months ago
I have just had my yearly statement from my 4 year old son's CTF account. The original amount that I was given was £264. The fund is now worth £187.93!!! and they are inviting me to invest up to £1200 a year in it!!!
I know they have their risks but I put it in a low risk account with the co op, thinking mainly about their ethical approach.
Just glad it isn't my money!!!!!
Is it just the co op or have others got the same issue
wookiemummy Avatar
7y, 11m agoPosted 7 years, 11 months ago
Options

All Comments

(9) Jump to unreadPost a comment
Comments/page:
#1
they are all based on shares so they will all be loosing a lot at the mo, hopefully this will balance out over the years.

We don't add to ours because we didn't want the money to automatically goto the little monster when shes 18 - we'd prefer her not to know how much is in there until she really needs it.

I was useless with money until I was about 24 - if someone had given me a few grand at 18 I would have just blown it on a few holidays\drinking sessions!
banned#2
mine is with the natwest and has also gone down this year ! x
#3
have u tried an icelandic bank?
banned#4
acecatcher3
have u tried an icelandic bank?


i hear woolworths do a good saving scheme now too
#5
These are meant to be held long term.
I don't think that there is any doubt that when the child is 18 they will be worth a lot more than the initial starting value.
And hey, it's free anyway isn't it.
Wish I was given some money to invest for my two. :thumbsup:

P.S. Now is probably the best time to top this up as everything is so low.

P.P.S. Always take expert / independant financial advice when investing. :thumbsup:
#6
my daughters is with nationwide and she has about £160 left in hers!
#7
don't put anything in my kids trust funds, or accounts. I put it all towards my debts (mortgage) and keep an account of what is theirs.

I figure I will have more money when they are older , and want the money, and i am back at work. there is no point suffering now, when there is money to be used.

i will give them there interest, of course.
#8
my two sons ones have gone down aswell, my other son missed it as he was born in july and the scheme started from the september, so i am going to do a post office account for him to compensate x x
#9
guys, this is bad news.
My sis and her husband have no idea about savings etc so they have passed the joyful task of finding the best savings account for my nephew.

Can anyone advise what the best place is to go with ?
And should I be going for shares or cash savings ?

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!