Child benefit investment options

[Super critical]

We recently had our first child and the child benefit will soon start coming in. We want to put this aside for the future (college etc) as the 140 a month really wouldn’t make much difference to us now but over 18 years it adds up. Rather than just sticking it in fairly low interest accounts though I would be interested in investing it to try make a bit more from it.

I have some lump sIum investments myself but I would not be familiar enough with things to know about options for an investment that’s added to regularly rather than a lump sum.

So firstly does this type of product exist that is just started with the first 140 and added to from there every month and if so what are the options. Obviously I would be following It and happy to move to another product in future if there was better returns etc as time went on but just to get started really now. I’d be happy with something medium
to relatively risky.

 

[misterk]

Just jumping on this as its something i also want to do any updates appreciated

 

[misemoi]

Do you have a mortgage? Your best savings rate is to overpay the mortgage. Run the numbers to see how much earlier it'll be paid off, then you can save the money you used to pay the mortgage with.

 

[jim]

the child allowance is just an additional 140 on top of your other income, why treat it differently? why not just treat it as 1 pool of money and save whatever amount you want (140? 200?) for however long you want (18 years? 10 years?) for whatever purpose you want (college? new zebra?)

just google reg saver account's, there's plenty out there. .

 

[Super critical]

Do you have a mortgage? Your best savings rate is to overpay the mortgage. Run the numbers to see how much earlier it'll be paid off, then you can save the money you used to pay the mortgage with.

No mortgage at the moment, currently in the early stages if planning for a self-built. We have a very good deposit together already and getting regular savings back in line for a mortgage application so really the CB would not really be anything significant towards either.

the child allowance is just an additional 140 on top of your other income, why treat it differently? why not just treat it as 1 pool of money and save whatever amount you want (140? 200?) for however long you want (18 years? 10 years?) for whatever purpose you want (college? new zebra?)

just google reg saver account's, there's plenty out there. .

I am a fairly seasoned saver and already have multiple savings accounts and some investments. I like to keep different savings separate depending on need for access, lump sum or regular, joint or individual, what they are for etc. I wouldn't be a fan at all of having 1 pool and for the CB I would see it as something I would not touch for many many years so would be very happy to have it tied up in something more long term and preferably something that will have a much better return than a saving account. While I'm familiar with most/all the different savings accounts and a little on lump sum investments I don't really know much about options for regular investing which is the sort of road I think should yield the best gains if there is something suitable.