BSA advocates Christmas investment

Tuesday, December 6, 2005

As Christmas approaches, parents and other relatives are being encouraged to make an investment in a child's future rather than buy presents that will not last.

The Building Societies Association (BSA) has released information showing that as many as 44 per cent of people have considered giving an investment for a savings account as a Christmas present, a number that rises to 60 per cent amongst parents.

However, only 22 per cent have ever asked for a monetary gift for their child from someone else, money that could be used as an investment in their child's future.

"By the time the Christmas period is over, many toys are unwanted and put away never to be played with again," said Brian Morris, head of savings policy at the BSA.

"This year, why not ask your family and friends to give your child something that will last longer than Boxing Day - a savings top up - your children will thank you for it in the long run."

The BSA also highlighted the benefits of a Child Trust Fund (CTF), saying that if the maximum £1,200 investment were made each year, on their 18th birthday a child would receive £36,000.

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http://www.europinions-finance.co.uk/investments/investments/
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