Saving for children

When your new-born baby first arrives, you’re probably not focusing on how much they’re going to cost you. However, according to LV=’s “Cost of Raising a Child” survey for 2022, you are looking at a 18-year bill of between £160,692 and £193,801. This sounds quite daunting; nevertheless, you can start to address this straightaway by considering a regular savings arrangement. A deposit account is likely to be your first port of call and most banks offer specialist child accounts; however, your return will be limited to interest payments, so take time to seek out an account that offers a decent rate.