Saving for children 'can be hard for Brits'

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Saving for children 'can be hard for Brits'

Thu 3rd Nov 2011

Families across the UK could be hoping to put money aside for their children, but many are finding it difficult in the current financial climate, it has been claimed.

Christine Ross, head of financial planning at SG Hambros, told listeners to the BBC Money Box podcast this week that one of the best ways to save for the future is through a Junior Isa - but this requires families to choose whether they wish to have stock market exposure for their savings or not.

She commented: "We know that over the very long-term if one wants to keep ahead of inflation then it is necessary to devote at least some of the money to the stock market."

According to a recent study carried out by NS&I, Brits who set themselves goals for saving are better at putting money aside for a rainy day.

It revealed that those who set small goals save an extra £40 per month than those who do not - the equivalent of an extra £500 per year.

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