Investment: Giving the gift of money

A lump sum investment in a savings plan may not put a smile on a child’s face as they sit under the tree on Christmas morning, but when they head off to university or are scrambling together a deposit for their first home, they will be grateful. A survey for Baillie Gifford in October revealed the recession has reduced the amount people in the UK are saving for their children and grandchildren. According to the report, almost a third of parents and grandparents are being affected by the economic downturn, stating they have reduced the amount of money they put aside for loved ones. The...