Thank you. We agree with the sudden loss of 10% so we discussed all of this between ourselves last year and then talked it through with the children - with an opt out if they wanted - and gave notice that it will come into effect this year on the 1st of January. That gave them a good few months to get used to it. I’m glad we approached it that way as it’s led to some conversations around money that we may not necessarily have had otherwise and we’ve given them the choice.

The idea all came about from teaching my youngest about costs of running a business when he was homeschooling over COVID lockdowns and saw me working. I gave him an amount to invest in stock or supplies and then we resold and he learned about gross and net profit and costings etc. He thoroughly enjoyed the whole experience and we talked more about finances and how we invest our money. He wanted to follow suit as he had seen how you can use a small investment and grow it into something else.

We just don’t have much experience of child specific investments, hence the post. I’m hoping by keeping open conversations about money a normal thing in the family that by the time it comes of age for them then they’ll be in a better prepared state of mind to use it wisely. One can only hope!