A Monthly Habit That Could Change Your Child’s Life
All any 18-year-old really cares about is their future...
Will I be successful? Will I ever own a home? Can I launch that business idea I’ve been thinking about? Of course, none of these questions are solved overnight. And they're definitely not answered by a lump sum of money. But having something saved for that moment makes a huge difference. Time, options, and peace of mind are powerful gifts.
It’s easy to look at “trust fund babies” and think that kind of start in life is out of reach. But it doesn’t have to be. Even modest savings, grown steadily and intentionally, can give young people a serious head start. For some, it could mean avoiding part-time jobs at uni. For others, it might be their first car, a deposit for their first flat, or enough money to test out their first small business idea.
So, how are parents with average UK incomes helping their kids prepare for the future? Let’s take a look.
The Rise of the Future-Focused Parent
More parents than ever are starting to save early, and not just for birthdays or big-ticket items. At Plane Saver, over 33,000 members are saving with us, and many of them are doing so with their children in mind. Those who save specifically for their child’s future put away an average of £36.02 per month.
That might not sound like a game-changer. But over time, it can be.
What Does £36 a Month Really Do?
Let’s say a parent starts saving £36 a month from the time their child is born. If that money is placed in a tax-free, interest-earning account such as a Junior Cash ISA with a competitive rate, the results can be significant. At our current 4.5% interest (AER), saving £36 a month for 18 years could grow to around £10,000 by the time the child turns 18 (depending on contributions, interest rate changes and compounding.)
It won’t buy them a mansion, but it might pay for:
- Driving lessons and their first car
- University living costs
- The launch of a small business
- A deposit for their first rental
- Time to travel, learn, or just breathe before adult life begins
The point isn’t the money. It’s the freedom.
How the Junior Cash ISA Works
The Junior Cash ISA is a government-backed, tax-free savings account that allows parents or guardians to save up to £9,000 per year per child. It’s locked in until the child turns 18, at which point they gain full access.
The Benefit?
- No tax on savings growth
- A safe, predictable return
- A clear message to your child: “I’ve been thinking about your future.”
Our current Junior Cash ISA rate is 4.5% AER, one of the most competitive around, and it’s available to our members.
What Happens at 18?
When the child turns 18, the Junior Cash ISA automatically converts into an adult Cash ISA. The tax-free benefit continues, and they gain full control.
That moment matters. Because it’s not just about handing them a savings account. It’s about handing them a vote of confidence. Something they can build from, not just survive with.
A Small Step That Echoes for Years
Not every family can save hundreds each month. But that's not the point. Starting early and staying consistent (even with small amounts) can completely shift the trajectory of a child’s life. The sooner the account is opened, the more time the money has to grow. And the more likely it is that, when the big questions come, your child has options. Because sometimes, knowing you’ve got a few thousand saved can be the difference between “I guess I can’t” and “Why not me?”
Want to start a Junior Cash ISA?
Open a 4.5% Junior Cash ISA online today! You’ll need your child’s ID/passport and proof that you’re living at the same address to get started.
Learn more HERE
