If parents and children are interested in saving from their earliest years, various schemes can help already. David Browning and his wife Valerie, of Langton Green, near Tunbridge Wells, arranged Baby Bonds from the Tunbridge Wells Equitable when son Jonathan was born in 1987 and daughter Hayley followed in 1989. Friendly societies promise steady returns. Risks are higher with unit and investment trusts - but eventual profits will be greater if stock markets stay firm. A few funds have reduced minimum sums for children.
Accounts stay open even if contributions dry up.
Even National Savings' Children's Bond has its fans. A bonus is paid on a saver's 21st birthday.