Money Box Live: How to Save for Children
Money Box
BBC
4.2 • 825 Ratings
🗓️ 13 December 2023
⏱️ 29 minutes
🧾️ Download transcript
Summary
Most people would like to save for their children but it's not always straightforward. There are questions about the best accounts, about how much you can afford - and about what those children might decide to spend the money on once they hit 18!
According to Standard Life 7 out of 10 parents are worried they're not saving enough for their youngsters' futures.
Felicity Hannah is joined by Kirsty Stone, a Chartered Financial Planner at the financial adviser The Private Office and Stephanie Fitzgerald, Head of Young People Programmes at The Money Charity to answer your comments and questions.
Presenter: Felicity Hannah Producer: Sarah Rogers Reporter: Eimear Devlin Editor: Jess Quayle
(This programme was first broadcast on Wednesday the 15th of November at 3pm).
Transcript
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| 0:00.0 | On a winter's night in 1974, a crime took place that would obsess the nation. |
| 0:07.0 | It was an extraordinary news story. |
| 0:09.0 | The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny, |
| 0:14.0 | mistaking her for his wife, then somehow just disappeared. |
| 0:18.0 | One of the great mysteries in English criminal history. We're still looking for Lucan. |
| 0:21.6 | It's honestly one of the most powerful stories of my lifetime. |
| 0:25.6 | I'm Alex von Tundselman. |
| 0:26.6 | This is The Lucan Obsession. |
| 0:28.6 | Listen on BBC Sounds. |
| 0:30.6 | BBC Sounds, music, radio, podcasts. |
| 0:35.6 | Welcome to the podcast of Moneybox Live. I'm Felicity Hannah and this week we're talking about how to save for children. It's something most parents and even extended family would like to do for the little ones in their lives. It's not always straightforward. There are questions about the best accounts, about how much you can afford, |
| 0:55.1 | and about what those children might decide to spend the money on once they hit 18, because kids |
| 1:00.2 | might not have the same priorities as their parents, certainly not when they're children. |
| 1:05.0 | We like to buy Barbie dolls. Probably a toy. Keep it to get a mansion. Whatever the money is for, we would all like to give |
| 1:14.6 | our children a head start. Now there is some good news for parents and guardians who are feeling |
| 1:18.8 | the pinch. We learned this week that inflation has fallen below 5%. So the price rises are |
| 1:24.1 | finally easing a bit. But seven out of ten parents are worried they're not saving enough for their youngsters' future. |
| 1:31.1 | Before we meet today's experts, let's cast our minds back to being seven or eight when we were more likely to dream of sweets than savings. |
| 1:38.5 | What do today's children like to do with their money? |
| 1:41.5 | Sometimes I spend it, sometimes I save it. |
| 1:44.1 | And when you save it, what do you save for? |
| 1:46.8 | Probably a toy that I might like. |
... |
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