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Stocks & shares ISAs: find the cheapest platform - MSE

Junior ISAs are tax-free savings accounts for children under age The amount you can save changes every tax year, which runs from 6 April to 5 April. Junior ISAs replace child trust funds CTFs , which the government no longer provides — although if you have a CTF, you can continue with it.

Junior ISAs were introduced in November and were available to children born after January and children born before September , who were excluded from child trust funds.

If you are thinking about opening a junior ISA for your child, there are two types for you to consider — a cash junior ISA or a stocks and shares junior ISA.

The junior cash ISA is a cash tax free savings account, into which you pay money into, just like you would in a bank account.

Top 10 Best Junior ISAs - Compare Junior Stocks & Shares ISAs | nocuwahojopyx.web.fc2.com

In a junior cash ISA, your money may not grow very fast, but it could be a good option for parents that are investing for a child that is close to age 18 and may need the money soon or do not like the ideas of putting it into riskier investments.

Just like bank accounts, interest rates for junior ISAs do vary, so you should always shop around to get the best deal. MMM has researched the market and the table below lists some of the best interest rates available to you:.

Best Junior stocks and shares ISA - Money To The Masses

With a stocks and shares junior ISAs, you have the opportunity to invest in the stock market via your provider. This is a more risky approach, unlike the cash ISA where there is minimum risk. The return on your investment depends on the performance of the companies your ISA is investing in. If the stocks and shares do badly, you could lose all or some of your investments, but if they perform well, you can expect some high returns on your investments.

Historically, data shows that returns from these types of investments can produce better returns. A provider for stocks and shares junior ISA will have a number of options for you to invest in, and some even offer Shariah Islamic or ethical funds. Stocks and shares can be a good choice for parents who are investing for a child who is still very young, as they are investing for the long-term. Accounts are subject to annual management charges — these can vary from 0.

There may be additional fees -you should speak to your provider in detail to see what charges you will be subject to before making a decision. Fees are well hidden — often like trying to find a needle in a haystack.

Junior ISAs - Compare To Find The Best Junior ISA Rates

So always check the small print. Some specialist providers, such as Shariah funds, may have higher charges. Higher charges can eat into your returns, so choose carefully. People do not ask about fees often enough! In a partnership with Manchester United, Vi A report by Aviva — The Cost of Youth — found the bill for teenagers age 13 — 19 topped The kids are off school and they are going to be hungry — inevitably, the next few weeks will see the cost of your weekly shop shoot up.

There is of course one catch — the food is past or close to its sell-by date, but perfectly safe.

New products are available everyday and there are some real bargains. Although we would like to see Approved Food cut down on the cardboard packaging, the items arrived well packed and in excellent condition. Keep up with MMM on Twitter MumMoneyMatters and Facebook!

You should do your own research before making any investment decision to ensure it is suitable to your individual circumstances.

You must use the content on the site at your own risk as we can only provide general information. Mummy Money Matters will not be held liable if things go wrong.

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