---
title: "How to save money for your child, from small amounts up"
description: "A guide to how to save money for your child: set a goal, choose where to keep it, add small regular amounts, and decide how gifts and windfalls fit in."
author: "Wealtie Team"
published: 2026-11-10
updated: 2026-11-10
category: "Saving"
canonical: https://wealtie.com/blog/save-money-for-your-child
---

# How to save money for your child, from small amounts up

To save money for your child, pick a goal and a date, choose an account in their name or yours, and set up a small automatic amount each month. Saving 25 a month from birth puts 5,400 aside by age 18, before any interest.

## Key takeaways

- Decide what the money is for, like university, a first car or a home deposit, because it affects where to keep it.
- Saving 25 a month from birth puts 5,400 aside by age 18, before any interest or growth.
- Accounts in a child's name may have tax advantages and rules about access, so check the options where you live.
- Gifts from family and windfalls can make a big difference if they go straight into the child's pot.

## How do you save money for your child?

Pick a goal, choose where to keep the money, and set up a small regular amount. Time does a lot of the work, which is why the plan matters more than the amount. Even a few years of small, regular amounts can give a child a head start that's hard to build from nothing later, when costs like rent and bills take priority. Small monthly amounts over many years add up to a meaningful sum, and starting early matters more than starting big.

## How much does saving a little add up to?

Here's what regular monthly saving from birth to age 18 adds up to, in round numbers that work in any currency, before any interest or growth:

| Saved each month | By age 18 |
| --- | --- |
| 10 | 2,160 |
| 25 | 5,400 |
| 50 | 10,800 |

![Saved by age 18, before interest. 10 a month: 2160, 25 a month: 5400, 50 a month: 10800.](https://us-1-s3.polodev.net/wealtie-blog-media/posts/2026/11/saved-by-age-18-before-interest-10-a-month-2160-25-a-month-dac8304051.webp "Source: Worked example in round numbers")

Interest or investment growth would add to those figures. Even 10 a month gives a young adult a useful start. Starting at birth is ideal, but starting at five or ten still builds a meaningful sum.

## What are you saving for?

Decide early, because it affects where the money should go. Common goals include university or training costs, a first car, a deposit for a first home, or a fund to help them start adult life. If the goal is many years away, the money might be invested for growth. If it's for something within a few years, savings are safer. [Should I save or invest](https://wealtie.com/blog/should-i-save-or-invest) explains the timing.

You might also save for nearer costs, like school trips or music lessons, in a separate pot. Write the goal down with a target date, since it helps you choose the account and stay motivated.

## Where should you keep the money?

In an account in the child's name or your own. Accounts in a child's name sometimes have tax advantages, and some lock the money until the child is an adult, at which point it becomes theirs to use as they choose. Accounts in your name give you more control over when and how it's used. Check the options and rules where you live, including any limits on how much can go in each year.

Compare fees and interest rates, and check what happens when the child reaches adulthood. Whatever you choose, keep it separate from your everyday money, so it doesn't get used for household bills.

## How do gifts and windfalls fit in?

They can make a big difference. Birthday and holiday money from grandparents and other relatives, if you put part of it straight into the child's pot, can add up quickly. Some families ask relatives to contribute to the savings account instead of buying another toy. Child benefit or similar payments, if you receive them and can spare them, are another regular source.

Keep a simple record of who contributed, so the child can thank them later. Let the child see the pot grow as they get older. It's a good way to teach them about saving. [Pocket money by age](https://wealtie.com/blog/pocket-money-by-age) has ideas for teaching them to save their own money.

## Should you save for your child before your own goals?

Not at the expense of your own safety. Your emergency fund and your own pension matter, because a parent with no savings may need help from their children later. A small amount for your child, alongside your own saving, is better than a large amount that leaves you exposed. If you've got high-interest debt, paying it down first usually helps the whole family more. [How to build an emergency fund](https://wealtie.com/blog/build-an-emergency-fund) comes first.

## What if money's tight?

Start very small, even 5 a month, and increase it when you can, like after a pay rise or when childcare costs fall. The habit matters more than the amount in the early years. Putting small windfalls, like refunds, into the pot adds up without changing your monthly budget, and reviewing the amount on each birthday is a good habit.

## How do you track a child's savings in Wealtie?

Add the child's savings as its own account, named after them, and move the monthly amount into it as a transfer, which isn't counted as spending. Your [net worth tracker](https://wealtie.com/features/accounts) shows it growing alongside your other accounts, and a monthly limit in the [budget tracker](https://wealtie.com/features/budgets) shows what's left after the transfer. If both parents contribute, a shared account lets you both see it, with the owner on Pro and the other parent on any plan.

## Questions people ask

### How much should I save for my child?

Whatever you can manage regularly. Saving 25 a month from birth adds up to 5,400 by age 18, before any interest.

### What is the best way to save for a child?

Choose a goal, pick an account in the child's name or yours depending on control and tax rules, and set up a small automatic monthly amount.

### Should savings be in my child's name?

Sometimes, depending on the goal and local rules. Accounts in a child's name may have tax advantages but often become theirs at adulthood.

### Should I save for my child or myself first?

Make sure your emergency fund and pension are on track, then save for your child alongside.

*This article is general information, not financial, tax or legal advice. Your situation is your own; check the numbers that apply to you before you act on them.*