Should you put your child’s pocket money into a junior ISA?

Children receive an average of £4.43 per week in pocket money, which could amount to £4,115 by age 18 if saved in a junior ISA. By contributing £10 per week, parents could amass £12,392 by their child’s eighteenth birthday, potentially aiding with university expenses or a first home deposit. Investing in a stocks and shares ISA could yield even higher returns, with the possibility of reaching £13,866 over 18 years based on a 5% annual growth rate.

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