Sep 12 2006
Parents of children at all stages of their education have been given advice recently regarding coping with the often high cost of schooling.
Jennifer Hill, personal finance correspondent at Reuters, noted that the cost of private education was "staggering", with fees rising 5.7 per cent in 2005-2006, in addition to other expenses such as uniforms, lunches and school trips.
Her recommendations included stock market investment in the medium and long term to reduce the risk associated with such investment
Ms Hill said: "Ensuring that savings are made in as tax-efficient a way as possible - by utilising one's full individual savings account (ISA) allowance, for example - would make one's money work harder for you."
Halifax recently published money-saving advice for university students, which included weekly budgets, taking part-time jobs and sensible debt management.
The bank has also advised young people to avoid "gimmicks" when selecting bank accounts and instead pay closer attention to financial aspects of the plan they choose.
Witan ISA offers a range of plans suitable for saving for children's future education costs, please click on our free brochures page for further details.
