A Junior Individual Savings Account (Junior ISA) is a long-term, tax-free savings account for children.

Investing in my future

Financial education

In this unit we learn about financial paperwork, future-focused investing, saving strategies, and practical budgeting.

Subjects which particular individuals may be sensitive to, eg, adoption, migration, bereavement or death, divorce, poverty, deprivation.

Depiction or discussion of sensitive content

Sam thinks Lucas has underestimated the cost.

Sam thinks Lucas has overestimated the cost.

Sam thinks Lucas has the exact cost and it will not change.

Lucas has £200 in savings. He wants to buy a laptop costing around £900. Sam says Lucas needs at least £700. Why did Sam say at least?

True - he has correctly calculated the cost.

True - the figures are exact and he has correctly calculated the cost.

False - he is making an assumption so the final amount is not certain.

False - Lucas does not need any driving lessons to pass his driving test.

Lucas decides to save for 30 driving lessons and assumes the cost is £35 per lesson. This means it will cost him £1050 to prepare for his test.

A Junior {{}} (Junior ISA) is a long-term, tax-free savings account for children.

A child can take control of their Junior ISA account when they turn:

A child can withdraw money from their Junior ISA when they turn:

you can pay money in and the interest earned is tax-free.

the money you pay in is used to invest in the stock market.

I put £10/week into my savings. How many weeks will it take for me to save enough to pay for a £550 holiday?

I put £80 a month into my savings. How many weeks will it take for me to save enough to pay for a £720 holiday?

I put £55 in a savings account. At the end of the year I receive what I put in and an extra 2.4%. How much do I receive?

I put £55 in a savings account. At the end of the year I receive what I put in and an extra 4.3%. How much do I receive?

I put £120 in a savings account. At the end of the year I receive what I put in and an extra 5.4%. How much do I receive?

I put £2000 in a savings account. At the end of the year I receive what I put in and an extra 3.7%. How much do I receive?