20 raring2go.co.uk Raring2go! ADVERTISING FEATURE Mum’s the word Many parents give their children a flying financial start by saving or investing throughout their childhood. A new survey (Boring Money 2021) shows mothers typically take the lead in this area, while cash remains disproportionately popular. The efforts of parents to save for their children is clearly admirable but it is important to make that money work hard. Most financial products held for children are in cash, with stocks and shares JISAs making up just 3% of all accounts. The JISA recently celebrated its tenth birthday and the allowance has increased over the years from £3,600 in April 2011 to £9,000 today. In a high- inflation environment, sticking to cash can limit the impact of parents’ saving as the real value of cash savings is likely to be eroded over time. While not guaranteed, investment products have historically delivered better returns over the long term so it is advisable to consider options other than cash. We can help you with your financial future so contact AYP Financial Planning on 01434 607808 or by email at info@aypfinancial.co.uk for a no obligation, no charge initial consultation.
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