The Brilliant Kingston Unity Friends and Family Junior Isa

Sometimes a finance product comes along that changes the way we save.

I am so loving the idea of the Friends and Family Junior ISA from Kingston Unity. It is easy, flexible and really personal.

I am excited to share it with you.

In case you weren’t sureof the benefits Junior ISAs have special tax advantages that mean that proceeds from an ISA will be completely tax free at maturity.

It is so important to save for our children’s future, whether to help them get one foot on the ladder property wise, to help them with huge university fees or perhaps that first car.

The Friends and Family Junior ISA is such an easy way for everyone involved with your child to save money for them and really could not be more straightforward.

You simply share the URL of the account.
 Kingston Unity Friends and Family Junior Isa

It is available to UK resident children under 18 (if the child has a Child Trust Fund they can only open a Junior ISA by transferring their Child Trust Fund into a Junior ISA) The money cannot be withdrawn until the child is 18,  which is very wise I think!

So many times my children are gifted money and I wish it could be squirrelled away rather than spent on yet another Lego set or pile of football cards. I don’t mind in the least them having some money to play with but sometimes it really does feel like too much gets wasted.

I love the fact that just by sharing the URL contributors can deposit money for your child with personal messages attached so your child will always know where the money has come from. What a charming idea and this will be so meaningful to them as they mature and the money is released..

You have the flexibility to stop and start payments and can make regular contributions from £5 or one off payments from just £10.

You can also set up various ‘pots’ in your child’s account. I would have one for their first car and one for their education, I think. I’d probably set them up a little art fund too as I would like them to keep buying art as they grow as I think it makes a lovely investment (unusual I know!) And definitely one for their first home deposit. The pots can be updated later as ideas are formed and changed.  Aren’t ‘pots’ a great idea!

A yearly statement of the account and annual bonuses will be lovely to share with your child too  as they grow. Sharing these will help them understand where their money is and  how savings can build.

Contributors even get sent a thank you message from your child. Now that’s just lovely isn’t it.

What truly fabulous ideas!

This is a child’s ISA that a child will want to  engage with, everyone will find easy to contribute too and which has great flexibility. Exactly what every parent wants. Well done Kingston Unity.

 

 

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