The Children's Mutual

The Children's Mutual

June 24, 2008 07:54 ET

A Christening Gift to Last a Lifetime

LONDON, UNITED KINGDOM--(Marketwire - June 24, 2008) - Children could receive Pounds Sterling 4,180 on their 18th birthday if generous christening guests listen to babies' parents and give gift money for their future, according to research from The Children's Mutual (http://www.thechildrensmutual.co.uk). It found that a quarter of parents whose children had been christened would rather have received money to save for the child's future than traditional keepsakes.

The UK's only specialist in long-term savings for children found babies receive on average Pounds Sterling 1,344 worth of trinkets and gifts on their christening or naming day celebration. Instead of just trinkets, if parents asked for money to be invested into a Child Trust Fund account, to the yearly maximum of Pounds Sterling 1,200, this could be worth Pounds Sterling 4,180 when the child reaches 18.

Although traditional christening or naming day presents are silver spoons, bracelets or clothes, The Children's Mutual predicts that in saving for the future the top gifts could become driving lessons or a first car if the child cashes in their CTF on their 18th birthday.

David White, Chief Executive of The Children's Mutual, said: "Christenings and naming days are very special times for friends and family to come together and think about a child's future. Parents are telling us that they'd love their child to receive a true gift to last a lifetime, a financial stepping stone into adulthood. Even if only half the guests who give christening presents gift money for the future, the child could be Pounds Sterling 2,820 better off at 18."

According to The Children's Mutual, the majority of godparents who invest for their godchildren online have set up regular monthly direct debit payments of Pounds Sterling 10-Pounds Sterling 15 while those who choose to make one-off payments invest an average of Pounds Sterling 80.

Christening or naming day guests who would like to save for a child's future can simply write out a cheque in the child's name and give it to the baby's parents, or if their Child Trust Fund account is with The Children's Mutual, they can request the account number from the child's parents and then log onto http://www.thechildrensmutual.co.uk and gift the money online using their debit card or by setting up a direct debit.

About The Children's Mutual

The Children's Mutual is the choice of 1 in 5 parents for their child's Child Trust Fund (CTF) account and named the UK's Best CTF Provider 2006 and 2007.

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