In this guide, you’ll learn the key considerations, work through a practical example and find useful next steps. Take your time and use the free worksheets to put ideas into practice.
What you’ll take away
- Name the goal
- Understand access
- Consider risk
Name the goal
Separate short-term school costs from longer-term education or adulthood goals.
Understand access
Compare who controls the money and when the child can access it.
Consider risk
Cash savings and investments behave differently; investments can fall in value.
Review regularly
Revisit contributions when household income or needs change.
What to gather
- Goal and target date
- Affordable regular contribution
- Account terms and access rules
Putting your learning into practice
Use the guidance above to identify the information you need and the questions to investigate. Consider:
- Name the goal.
- Understand access.
- Consider risk.
- Review regularly.
This is general financial education, not a personal recommendation, an assessment of suitability or an invitation to buy or arrange a financial product. Check current official information and obtain appropriate professional advice for individual circumstances.
Further help
For up-to-date rules and support, see this UK guidance resource. Check which rules apply in your part of the UK.
Keep learning
Use a worksheet to explore your own figures, or browse another topic in the guide library.
Download free worksheets →Explore more guides →