MyEggNest.com, a new website has launched to give families the most thorough and complete source of children's savings information online. It is a one-stop resource centre for parents looking at savings for their children of any age from birth to when they leave home. This FREE comprehensive online guide is particularly pertinent, with child trust funds (CTFs) just having celebrated their third birthday, allowing every child born after 1st September 2002 to receive £250 (or double that if the family is on a low income) from the government.
Once the CTF voucher has been issued, parents have a year to open the account, and invest either as cash or shares However, with only 75% of parents who have been issued with CTF vouchers having used them to open a savings account, the reluctance to invest in CTFs could just be down to parents not knowing much about them Now there's help for parents making decisions on where to invest, MyEggNest.com compares the best performing child trust fund and children savings online and provides the widest selection of child trust fund reviews in the UK.
Parents, grandparents, family and friends can add up to £1,200 to the fund every year, and once the child turns seven, the Government will put in another £250 or £500. The money can't be touched until the account holder is 18, at which point they are free to use as they wish. The idea behind CTFs is that the investment will grow to give the child a tax-free, financial kick-start at the age of 18, helping them to meet university fees or even buy their first home.
MyEggNest.com can help families save for their children's future. With easily accessible information from www.myeggnest.com parents can make real impact upon their child's prospects.