{"id":4583,"date":"2022-02-14T10:12:05","date_gmt":"2022-02-14T10:12:05","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=4583"},"modified":"2022-02-14T10:14:52","modified_gmt":"2022-02-14T10:14:52","slug":"making-savings-for-your-children-work","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/02\/14\/making-savings-for-your-children-work\/","title":{"rendered":"Making savings for your children work"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Many parents\nare keen to give their children a flying start financially by putting aside\nmoney throughout their childhood. Mums have been shown to be more likely to\ntake the lead in this area, with most savings being held in cash products, such\nas cash Junior Individual Savings Accounts (JISAs) or premium bonds.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Mum\u2019s the\nword<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The research<sup>1<\/sup>\nshows that 60% of those actively contributing to a child\u2019s savings and\ninvestments were women. Researchers commented that this appears to fit in with\na broader theme whereby women tend to connect investing to outcomes for their\nfamily more than to their own needs.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The survey also\nhighlighted a drop-off in contributions as children get older. While 67% of new\nparents start saving or investing for their new-borns, this figure falls to 54%\nby the time children reach secondary-school age.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Is cash\nking?<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The efforts of\nparents to save for their children is clearly admirable, but it is important to\nmake sure that the money works hard for the long term. The JISA recently\ncelebrated its tenth birthday, and the allowance has increased over the years\nfrom \u00a33,600 a year in April 2011 to \u00a39,000 a year today \u2013 currently stocks and\nshares JISAs make up just 3% of all accounts.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In times of\nrising inflation, sticking to cash can limit the impact of parents\u2019 savings, as\nthe real value of cash will be eroded over time. While not guaranteed,\ninvestment products have historically delivered better returns over the long\nterm. It\u2019s advisable to consider the options.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Boring\nMoney, 2021<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>The value of investments and income from them may go down. You may not\nget back the original amount invested. <\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Many parents are keen to give their children a flying start financially by putting aside money throughout their childhood. Mums have been shown to be more likely to take the lead in this area, with most savings being held in cash products, such as cash Junior Individual Savings Accounts (JISAs) or premium bonds. Mum\u2019s the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":4584,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/4583"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=4583"}],"version-history":[{"count":4,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/4583\/revisions"}],"predecessor-version":[{"id":4590,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/4583\/revisions\/4590"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/4584"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=4583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=4583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=4583"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=4583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}