Cash Isa 'a good option' for teenagers

www.moneynews.co.uk > Banking > Cash Isa 'a good option' for teenagers

Cash Isa 'a good option' for teenagers

Fri 29th Aug 2008

Older teenagers and recent graduates may wish to shop around for the best current account among the many "attractive" deals available, Moneyfacts has asserted.

The financial advice website suggested that many teenagers who are looking to move into the world of part-time or full-time work should start saving from an early age.

It added that while there are "many accounts on the market", a cash individual savings account (Isa) may be a good option for first-time savers, as these tax-free accounts are available from the age of 16.

"By getting children into the habit of saving and managing their money, they can learn financial skills which could last a lifetime," Moneyfacts stated.

Meanwhile, price comparison site moneysupermarket.com recently suggested that students who are setting off for their first year of university in the coming weeks could save money by ensuring they are covered under their parents' home contents insurance policy.

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'