Dear Aunt Pecunia
Unlike me, junior is very good with money: his piggy-bank is full to bursting point. To prevent him spending it on rubbish (and indeed to stop my mining of it to pay the window cleaner) we want to find somewhere to put the cash. But is there any point given that no-one is earning anything worthwhile on a savings account?
Aunt Pecunia says: What’s the point of having kids if you can’t mine them for all they are worth? Honestly, those Victorian reformers who stopped child labour have got something to answer for. I’d be at the moneybox with a penknife were it in my possession. But if you insist on being sensible, then I suppose getting junior to open a savings account is a good idea, even if rates are ridiculously low at the moment. They won’t, after all, stay that way for ever and you are teaching him a good lesson in prudence (yawn).
I know Premium Bonds aren’t what they used to be, but at least they are slightly more interesting and your stake isn’t at risk - you can cash them in whenever you want. And there’s a (very) slight chance of winning a £1 million prize. Have a look at www.nsandi.com.