Stonehead
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Child trust fundsIs anyone else finding these to be a total waste of time with the money simply disappearing into the banker's hands?
Our youngest has one in his name and the value has gone down every year. It's now worth just £230.28, having lost £50 in a year.
The value is so low that the government's CTF calculator doesn't recognise the amount when you try to work out what the fund will be worth at age 18.
When the Government set up the CTFs, we decided not to pay any money in as we were suspicious—with good cause as the value has gone down every year. Instead, we pay a little here and there into an old-fashioned, long-term, high-interest savings account. That is slowly growing.
The Government should have just handed the CTF money to its mates in the banking industry, but I suppose that wouldn't have won votes in the short-term.
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DiddleDeDum
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There was a lot about saving money for children on Money Box on radio 4 this week - might be useful to listen to it or have a look on theis website
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Kelly
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A total waste of time.....my kids have bank accounts that their grandad like to send money for occasionaly.....but I keep getting letters saying " do you know you can deposit upto £1500 a year!!" hmmmIf I had that much money to throw away I'd be better off putting it in a tin and giving it to them when they are 18.
We are a no income family now 
I get p****d off with the black mail...oooh this will buy yr child his forst car/ university tuition/ house deposit etc...what ever happend to people learning to become adults and buy these things for themselves by...oh I dunno...getting a job and saving up...grrrrrr
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Annpan
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Time will tell.
I am not sure that you can really base the expected growth of an investment based account on the space of just a few years. These things usually grow over a decade or more. £50 down this last year is hardly surprising TBH. Also it depends which type you chose to invest in - from what I remember there was both an investment and an investment/savings option.
I think the smart people, if they have a little spare are saving some anyway (as stoney says, in a separate savings account)
The sad thing is that the folk that this was created for don't use it.
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cmiddleton
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True, but I'm always wary of saving in a childs name.
Once they are 18 they get a letter advising them they have a lump sum. I know someone who p**sed 20k against the wall at 18, much to the dismay of their parents... when they eventually found out.
If you were still a teenager, you would be awfully tempted!
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