To invest is best – Investing gives your money the best chance to grow over time. The longer you hold an investment, the more time you have to ride out any ups and downs along the way. History tells us that over 5 years, investing in shares will give a better return than cash 75% of the time. Over 18 years, this figure grows to 99%! So, if you’re looking to the long term, investing can be a great way to build a nest egg for your child.
You can save and invest tax free!A Junior ISA is similar to a standard savings account with the advantage that you do not have to pay tax on any interest or gains.
Don’t let yourself be intimidated!You really don’t need to be an expert to start investing. There are lots of simple, stress-free ways of getting started such as putting your money into a low-cost tracker fund. This means your money is spread across lots of different companies from all over the world, so you don’t have to try and pick the winners!
Manage your money on the move – Mobile phones have made our lives easier from the way we do our shopping to the way we book a taxi home. Investing apps such as Moneybox are providing a modern solution to how we manage our money, making it possible to open an account from the comfort of your own sofa without the need for travelling to your local bankbranch.
Don’t put all your eggs in one basket – When thinking about where to invest your money, one of the most important things to consider is diversity – you don’t want all your eggs in one basket! With Moneybox, your money is invested across a range of countries and industries from Netflix to Disney, Sainsbury’s to Tiffany & Co!
You don’t need wads of cash! When deciding to invest towards your child’s future, the minimum investment amount will differ depending on the provider you choose. The good news is you don’t need a big pot of money to open a Junior ISA. Many providers, including Moneybox, enable you to open an account with as little as £1 and can help you to save little and often.