TurningGreen
Registered User
- Messages
- 49
Hi All,
Anybody able to answer this question
I am thinking of giving each of my children 3K for the next 3 years but I want them to try hold for those 3 years, giving them a help with a house deposit, car or a nice holiday at the end. Question I have is this - does the money have to go into a financial account (bank, credit union etc) or can I purchase Prize Bonds or State Savings Certs in their names and hand them their bonds/certs in 3 years to do what they wish. Since bank interest rates are so low, I kind of like the idea of prize bonds in the hope that maybe they might have a win - I know odds of a win are extremely low but live in hope and optimism !!.
Thanks
Anybody able to answer this question
I am thinking of giving each of my children 3K for the next 3 years but I want them to try hold for those 3 years, giving them a help with a house deposit, car or a nice holiday at the end. Question I have is this - does the money have to go into a financial account (bank, credit union etc) or can I purchase Prize Bonds or State Savings Certs in their names and hand them their bonds/certs in 3 years to do what they wish. Since bank interest rates are so low, I kind of like the idea of prize bonds in the hope that maybe they might have a win - I know odds of a win are extremely low but live in hope and optimism !!.
Thanks