Dilemma

[bednobs]

Am just about to start buying premium bonds, and was also thinking of getting some for my 10 month old daughter. Then i thought to myself what would i do if she won the big prize eg in the next year? - the bonds and prizes are administered by me untill she is 16, but would i just keep the million in her bank account, or would i spend it, despite the fact it's "hers"??
what would you do?

[Psybbo]

Get her a Junior ISA

[Eve]

You'd get some amazing interest on that million :)

You could put it in trust for her in high interest bearing accounts or safe investments with a decent return. Maybe use some of the interest generated to buy things for her as she grows, help with education, go on brilliant family holidays etc...

[bednobs]

or just buy a mansion and a fast car??

[Hopkirk]

If it is a dilemma, just put money in a savings account for her - don't buy the bonds.

[888sally888]

I think Premium Bonds are a waste of time (as does Martin Lewis money expert). The chances of winning are SO low.