Children's Mutual offers tips to boost CTFs
The Children's Mutual has offered a number of money-saving tips that could help British parents add more regularly to their sons and daughters' child trust funds (CTFs).
According to the financial services firm, new parents could save cash by borrowing toys, setting up a babysitting circle with friends and selling unwanted maternity wear.
By cutting back on unnecessary expenditure, parents are likely to be in a stronger position to add to their child's CTF, which will afford them a greater degree of financial security in later life, Children's Mutual has suggested.
The advice has been offered by the company to encourage more CTF contributions and to mark the beginning of the Year of the Rat in the Chinese calendar, which has its first day tomorrow.
"Some of the attributes of 'rats' include being enterprising, resourceful and great with money, just like shrewd celebrities born under this sign, Andrew Lloyd Webber, Geri Halliwell and Damon Hill," a statement from Children's Mutual explained.
According to the latest figures from Birmingham Midshires, more British consumers are adding to a savings vehicle now than was the case 12 months ago.
