Home Forums Money Savings for grandchildren

  • Savings for grandchildren

    I have 4 grandchildren. When the first 3 were born I was able to set them each up with a savings account which I put money into each month, birthdays and Christmas. When the 4th was born, Nov 2019, rules had changed and I wasn’t able to open her an account.

    Can anyone advise what is the best way to save for them all? I’m happy to move the balance for the older 3. Ideally I’d like to have control so that I can manage the money until each of them reaches their 18th Birthday.

    Posted by brendatoswse
    • Reply by mel7

      Hi Brenda,

      Thanks so much for your comment. This is a great idea for a Money article, so it’s something we’ll look at in the next few weeks. There are various different options available, so we’ll explain how they work and how to go about setting up accounts etc. We can’t offer advice unfortunately, but hopefully the article should provide you with an idea of the different ways to save for grandchildren (and where to go for advice if you need it.)

      Thanks very much again and keep an eye out for the article!

      Melanie (Money writer)