MAKE MONEY ONLINE POSTS: 01/16/18

الثلاثاء، 16 يناير 2018

Middle Smithfield hopes to rezone CCP golf course

MARSHALLS CREEK — Middle Smithfield Township Supervisors have high hopes for the Country Club of the Poconos Municipal Golf Course. The board plans to rezone part of the property for commercial use, giving a potential buyer the option to build on the undeveloped land.“If we can sell this land, it puts it all back on the tax rolls,” said Supervisor Annette Atkinson. “We're hopeful for a compatible project because it would also provide jobs for the [...]

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Consumer Watchdog Considering Repeal of Payday Lending Rule

The Consumer Financial Protection Bureau has decided to reconsider a key set of rules enacted last year that would have protected consumers against harmful payday lenders.

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5 Times Marketers Totally Missed the Mark

From Kendall Jenner attempting to end police brutality with a Pepsi to H&M's "The Coolest Monkey in the Jungle" ad, let's just say some of these brands didn't get it right.

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5 Times Marketers Totally Missed the Mark

Cell Service for $20/Month? We Have Some Questions for This Discount Carrier

Like everyone else, I’m attached to my phone.

So you’d think I’d be fairly attached to my provider. You know: the entity that allows me to mindlessly scroll Instagram, listen to true-crime podcasts and annoy my boyfriend via text 24/7.

But I’m not. In fact, I hate it.

Of course I’m going to tell you why…

It’s expensive — well over $200 for three lines. (That includes my mom, my brother and me.)

Negotiating is impossible and the fees are ambiguous.

Each time I leave the brick-and-mortar store, I’m either frustrated out of my mind or near tears. Or both.

Nearly every month, I get one of those “You’ve used all your data! We’ll go ahead and add $15 more” texts. (My mom asked about upping our data plan. Not worth it, a salesperson advised her. Why?!)

I’m currently sitting inside my apartment with two measly service bars. Cool.

And, yeah, I’ve looked into other service providers, but this process has lead to frustrations and and questions. Like: Is this really going to be better and cheaper than what I have going for me now?

Today, I’m going to put my skepticism (and sometimes cynicism) to good use to examine a discount cell phone plan I’ve heard chatter about lately: Pure TalkUSA.

Apparently, plans start at $20 a month, and include unlimited talk and text. And there are zero overage fees. Plus, you can use the code “PENNY” to get 50% off your first month of service.

Too good to be true, I think. So I started asking all the questions to put together a comprehensive Pure TalkUSA review…

1. Service Will Be Shoddy, Right?

Coverage is my first concern.

Remember those AT&T and Verizon commercials with the maps? “See! Everything is red means you’re covered!” they’d say, the map of the U.S. painted red. With smaller discount carriers, I picture a red dot in all major cities. That’s all.

I start poking around to learn about the Pure TalkUSA coverage.

Its site says it operates on the largest 4G LTE GSM network. I Google “GSM,” because what the heck does that mean? It’s a carrier. Apparently Sprint and Verizon operate on the CDMA carrier while AT&T, T-Mobile and most of the rest of the world use GSM.

Pure TalkUSA also provides a map. I’m stoked for the visual. Most of the U.S. is covered in orange, aside from some larger spots out west.

I scroll down to read the “definitions” of the colors. Orange represents “coverage areas that should be sufficient for on-street, in-the-open and some building coverage.” It’s also worth noting the fine print that reads, “The map does not guarantee service availability.”

That makes me slightly wary, but I get it: You’ve got to cover your butt.

I move on and wonder…

2. Will I Be Stuck With One Low-Data Plan Option?

Pure TalkUSA advertises plans starting at $20 a month.

These include unlimited talk and texting. The data is what gets you, though.

That sounds too affordable to be true. How much data am I getting for that? Well, you’ve got options:

$20 a month gets you unlimited talk and text plus 500MB of high-speed data. For reference, this equates to 13.5 hours of surfing the internet, 3.5 hours of streaming music or 20 minutes of streaming video.

$25 gets you unlimited talk and text plus 1GB of high-speed data. This equates to 27 hours of surfing the internet.

$30 gets you unlimited talk and text plus 3GB of high-speed data. This equates to 81 hours of surfing the internet (about .

$35 gets you unlimited talk and text plus 5GB of high-speed data. This equates to 135 hours of surfing the internet.

$45 gets you unlimited talk and text plus 10GB of high-speed data. This equates to 270 hours of surfing the internet.

I honestly have no concept of how much I use the internet on my phone, so I check in with my current plan. For three lines, we have 20GB of data. Based on that, I assume 10GB would be plenty for me.

This leads to my next, perhaps most pressing question…

3. What If I Use All My Data?

This is perhaps the most important question of them all. I don’t want to be charged $15 each time I go over my data allowance. That already happens. And I hate it.

So we’ve established Pure TalkUSA plans come with unlimited talk and text (including picture texts). But what about the data?

The carrier assures users it won’t simply turn off your data when you max out. Or even charge you overage fees. Instead, once you hit capacity in a month’s time, you’ll be throttled to 128 kbps (which is a kilobit per second).

I looked this one up. Apparently, 128 kbps isn’t the worst. You can watch this guy use his phone on 128 kbps for some context. (Spoiler: YouTube isn’t really functional at this rate.)

Once your month resets, you’ll get all your data again!

4. Can I Keep Fam in My Plan?

This is a big yes! Actually, the more family you add to your plan, the bigger discount you can snag.

For example, when you add a second line, you’ll get 10% off your total bill. Add a third line and get 15% off. Add a fourth line — or more — and you’ll see 20% shaved off your bill.

For example, if three of you have the $30 plan, that would be about $90 a month. But you’ll get 15% off now, which leaves you paying $25.50 per line.

Hey, any little bit helps.

5. Will I Need to Buy a New Phone and Get a New Number?

Nope! This is a BYOP plan. (Bring Your Own Phone… I just made that up.) This means you can keep your existing phone number, too.

Of course, you can shop phones through Pure TalkUSA. But if you have a perfectly good iPhone or Android, check to see if it’s compatible (or unlocked).

Do note, you cannot switch from these carriers if your phone is locked to the network:

Verizon/Alltel

Boost

Sprint/Nextel

MetroPCS

Virgin Mobile

Page Plus

This, I realize, will weed a lot of folks out. You can, however, transfer to Pure TalkUSA from plans with these carriers:

AT&T

T-Mobile

Cingular

TracFone

Net10

Any other GSM providers

With all networks, you’ll have to make sure your phone is unlocked. (Here’s a guide to unlocking your phone courtesy of Digital Trends.)

6. How Do I Make the Switch?

Perhaps the most beautiful part of Pure TalkUSA is you don’t even have to go to a store to switch; it all happens online.

Pure TalkUSA talks you through the sign-up process:

Pick your plan. (Take a look at all the ones I mentioned above.)

Choose a phone — or bring your own as long as it’s compatible and unlocked. If you opt for this, your SIM card will cost $3. This is a one-time fee.

Choose to add another line. Or not. Then pay.

Pure TalkUSA sends you a SIM card (and phone, if ordered). Orders placed before 10 a.m. EST will be shipped out that same day. Standard, free shipping ranges from four to six business days.

Once you get your new SIM card, insert it into your phone, and activate your phone online (or call customer service).

Now, you’re all signed up!

7. But What if I Hate Pure TalkUSA?

Don’t panic. Because you’re not tied to a contract, you can cancel your service any time.The company has a 14-day device return policy. Note the device restocking fees, though.

If you’re still impressed with this discount cell phone plan after my interrogation (I kind of am), you can read up on it a little more and sign up online.

And hey, don’t forget to enter “PENNY” for that special 50% off offer!

Carson Kohler (@CarsonKohler) is a junior writer at The Penny Hoarder. This is the closest she’s been to jumping her carrier’s ship… She just might take the plunge.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

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Traditional IRA Rules and Limits You Need To Know

A Doomsday Disaster Guide for Anyone Freaked Out Over Hawaii’s False Alarm

What happened over the weekend — you know, the false alarm trumpeting a nuclear blast in Hawaii — was an absolute disaster. Especially since it could have been prevented by a more careful web developer from happening in the first place.

But compared with the alternative — an actual nuclear ballistic missile attack — things could have been, uh, a lot worse.

Imagine enjoying a nice weekend, only to look down at your phone to see this: BALLISTIC MISSILE THREAT INBOUND TO HAWAII. SEEK IMMEDIATE SHELTER. THIS IS NOT A DRILL.

Now what do you do?

Given the growing tensions between the U.S. and North Korea, people were understandably freaked out.

But even given the incredibly small chance of an actual nuclear attack, there are some ways to prepare — and on a budget, at that!

How to Prepare for a Nuclear Attack With a Low-Cost Disaster Kit

You can put together a pretty run-of-the-mill disaster preparedness kit to be ready for a hurricane, flood, snowstorm or a highly unlikely attack from a nuclear ballistic missile.

There are five easy strategies for building up an emergency kit on a budget: Decide what you need, find free options to gather supplies, use your DIY prowess, collect items on sale, and always, always plan ahead.

However, for a nuclear attack, you’ll need more than bottled water and batteries. First, make sure to have up to two weeks of supplies you can survive on, according to the U.S. Department of Homeland Security.

Potassium Iodide tablets help slow the spread of some types of radiation, so those might be useful to grab before any possible attack, though the U.S. Centers for Disease Control suggests taking them only on the advice of a health official or physician. And a radio is going to be one of the most important pieces of equipment in order to hear emergency transmissions.

Here’s a rundown of the cost of some of these items:

Potassium iodide tables — $8.35

Hand-crank radio — $15.99

Bottled water — $22.96 (for 22 gallons per person)

Here’s How to Survive a Nuclear Attack

The Department of Homeland Security has a comprehensive to-do list in the event of a nuclear disaster.

The main point: Get as far away from the blast as humanly possible. Shelter yourself in dense buildings — think concrete and bricks. And be ready to stay indoors for a while — radiation loses its greatest threat within two weeks.

If you’re caught outside during a blast, don’t look at the explosion, take cover behind anything possible, and lie down flat and cover your head. And when you can get inside, get clean as quickly as possible.

But think of it this way, in the extraordinarily unlikely event of a nuclear attack: At least we won’t be worrying about student loans, rising rents or other more present problems that have been dogging us. So we’ve got that going for us, which is nice.

Alex Mahadevan is a data journalist at The Penny Hoarder.

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Healthline Is Hiring Work-From-Home Writers, Editors and Producers

It’s January again, y’all. You know what that means: new year, new you!

But if you’re not into the whole total rehaul thing, why not just try adding something new to your routine? If you’ve got a knack for writing or if you love critiquing other people’s work, then we’ve got some freelance positions for you.

Healthline, one of biggest health information sites in the U.S., is looking to fill several work-from-home jobs. So if you have a background in health and medicine, or you just love promoting a healthy lifestyle, check out these openings.

And if none of these work-from-home positions are really calling your name, don’t lose hope! Go check out our Jobs page on Facebook. We post awesome opportunities there all the time.

Freelance Writers at Healthline Media

Pay: $125/article

Healthline is looking for work-from-home writers who can create general health content. It’s also interested in freelance writers who have experience writing about mental health, natural remedies and complex clinical material.

Applicants for this position should have:

A flexible schedule
A strong portfolio
A desire to write engaging health and wellness content
Background in using science-backed research
The ability to write in an accessible tone

If you want to become a freelance writer for Healthline, send a link to your portfolio to demand@healthline.com. You can also check out the original job listing here.

Freelance Social Media Writer

Pay: Not specified

Note: This position is freelance but has the potential to turn into a full-time role.
Responsibilities include:

Creating social media scripts
Collaborating with editorial and social teams to promote wellness and lifestyle content
Working with designers and editors to create engaging videos
Writing posts that contribute to social media campaigns
Working with the Healthline team through Zoom video conferences or calls

Applicants for this position should have:

A desire to write social content that fits within the Healthline brand
The ability to work independently, as well as collaborate with team members
A strong portfolio with examples of engaging content

To apply for the freelance social media writer position, go here.

Freelance Health, Science and Public Policy Reporter

Pay: Article/project-based and determined by the scope of work and publish date

Responsibilities include:

Pitching innovative story ideas
Creating engaging and innovative multimedia content
Using reputable contacts and sources related to health, wellness, science and public policy

Applicants for this position must have:

Five to seven years of writing, editing or producing experience with a major media brand
A bachelor’s degree in journalism, communications or a related field
A strong portfolio with published works
Experience in and/or a strong desire to write about health- and wellness-related topics

To apply for a freelance health, science and public policy reporter position, go here.

Remote Copy Editor

Pay: Not specified

Note: This position is remote but reports to the San Francisco office.

Responsibilities include:

Editing content using APA formatting
Correcting grammar and formatting errors
Editing content to fit in-house style
Reviewing any sources
Communicating with editors
Providing feedback on content

Applicants for this position must have:

A bachelor’s degree in English, journalism or a related field
At least two years of copy editing experience
A firm understanding of AP style
A good eye for grammar
The ability to work independently and meet deadlines
Basic HTML skills
Experience with tracked changes in Microsoft Word

To apply for the remote copy editor position, go here.

Kaitlyn Blount is a junior staff writer at The Penny Hoarder.

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This Is How You Can Save Up to $5 the Next 2 Times You Refuel Your Car

If you’re like me, you’ve never signed up for a fuel rewards program because all the rewards often seem like more hassle than they’re worth.

Although that might be true in some cases, here’s a deal that saves you 25 cents per gallon the next two times you fill your car’s tank when you join the Shell-affiliated Fuel Rewards — and it’s one of the best fuel savings deals I’ve seen.

We love to pinch our pennies here at The Penny Hoarder. More pennies means more coffee, and this deal is worth at least two cups of coffee. Sign me up!

Here’s How to Save 25 Cents Per Gallon of Fuel

First, you have to sign up for or log in to LivingSocial.

Once you’re in, you have to “buy” this LivingSocial deal for the small price of $0. Despite costing $0, you still need to add a credit card. Don’t worry, though. The site won’t charge your card.

Now, bask in the glory of your shiny, new voucher, but not for too long because it expires on Jan. 24. Hey, not so fast! There’s still one more step.

Next, you have to redeem your LivingSocial voucher online or via the mobile app. Once you click “Redeem,” you will be redirected to a page where you sign up for Fuel Rewards. When you sign up, your account will automatically get two credits for 25 cents per gallon good for up to 20 gallons of fuel each. There’s one caveat, though: You must be a new Fuel Rewards member to get this deal.

Finish the registration and, boom, rewards. It’s that easy.

After signing up for Fuel Rewards, you’ll receive an Alt ID to use at any participating Shell station. You can find participating stations on the Fuel Rewards website.

Once you’re at the station, just select “Fuel Rewards” at the pump and follow the prompts to enter this ID before pumping your fuel. You’ll see 25 cents come off the price per gallon. Savings magic.

How to Max Out Those Fuel Rewards

Remember, this deal is good for up to 20 gallons on each fill-up, so you can save up to $5 per refuel. If your car’s tank is smaller than 20 gallons, you can maximize your savings by doing back-to-back refuels on two cars without putting the nozzle back on the pump.

So what are you waiting for? On your mark, get set, go!

Stephanie Bolling is a staff writer at The Penny Hoarder, and she just signed up for her first fuel rewards program.

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How to Make Money Fast – 107 Ways to Make $100

Roth IRA vs Traditional IRA: Understand the Difference

First 50 Funds Interview: Michael Morris, Picton Property Income Trust

Moneywise’s Helen Knapman meets Michael Morris, chief executive of Picton Property Income trust – a Moneywise First 50 fund.

What is Picton Property Income?

We invest in commercial property in the UK across different sectors and geographies. Today, the trust has a high weighting in industrial logistics and a low weighting in retail – in five years’ time it might be quite different.

Our business is simple: we own assets and we collect rent from our occupiers, which generates a cash flow – this pays for our operational costs and anything after that is profit, which is distributed as a dividend payment to investors – currently about 4%.

Moneywise First 50 Funds - 10 investment trusts for starters

We’re different to most investment trusts and property vehicles in that we’re internally managed – so we don’t pay money to a third-party management fi rm. We have 11 staff, and I’m responsible for what they do – they only work on the trust, so we have a complete alignment of interests.

What do you look for when you’re buying commercial property?

We invest in industrial, office, retail, and leisure. We’re also occupier focused and opportunity led.

Being occupier focused means we can retain our occupiers for longer and have a better cash flow. A good relationship means we’ll know if they’re expanding or contracting and can adjust accordingly.

Being opportunity led means that when we buy a building we think about whether it will be attractive for occupiers, whether it’s future-proofed for the next five or 10 years, and whether we can enhance it. Would we be better off converting an industrial unit into a gym, for example? We did this with one property 18 months ago, enabling us to double the rent.

What’s your favourite type of commercial property?

We like warehouses, industrial units, and logistics units because they generally have good occupancy rates and good rental growth.

What properties have you recently bought and sold?

We buy and sell properties quite infrequently because trading costs for commercial properties are expensive – it could be an 8% cost by the time you factor in stamp duty and fees. In the past six months, we’ve bought one asset and sold two.

We’ve bought an office in Bristol, which was 66% occupied and 34% unoccupied. The opportunity for us here is to find more occupiers quickly and to improve the cash fl ow. It’s also a good building in a location where rents are growing.

The two buildings we sold were offices in Bracknell, Berkshire, which we sold for a higher value for residential use.

What have been your best and worst investment decisions?

The worst was having too much gearing [debt] in 2007 and not foreseeing the scale of asset write-downs that happened in 2008/09. In a rising market, if you have debt you see better underlying performance, but in a falling market if you have debt you see a worse performance.

The best decision has probably been holding on to assets through this recovery and not being tempted to be too short-termist in our outlook, and actually ending up today with a really good quality portfolio in the right sectors.

What are your challenges and opportunities in 2018?

Challenges are the uncertainty surrounding Brexit and whether that will affect businesses and their decisions around leasing commercial floor space. But we’ve not seen any material change in decision making since 2016’s referendum, so one could be quite relaxed about that – but it would be naïve to discount it altogether. We sold two City of London buildings in 2016 to mitigate against any concern that financial firms might leave the UK.

The opportunities are more of the same for us; it’s all about capturing growth through leasing vacant space and re-setting rents. We’re also likely to become a UK REIT in 2018 – this is to improve efficiencies and to cut costs. If costs are reduced, this means ongoing charges will go down.

Moneywise First 50 Funds: The investment outlook for 2018

Why should people invest in commercial property?

I doubt many people have exposure to commercial property and it’s very different to the residential property market because people in commercial property tend to sign up to longer leases, and the buildings are much cheaper than residential property.

You’re also investing in a real asset – you actually own something. So although prices can go up and down, there’s always a residual value. In the worst-case scenario and the tenant goes bust, you still have the building. Plus, real estate is a good income-driven asset class that has been around for hundreds of years.

However, if you’re investing in an illiquid asset class, I think you need to be in a closed-ended structure. Open-ended property funds are holding a lot of cash now because they don’t know what’s around the corner and whether investors will suddenly want their money back. It’s prudent, but returns will be diluted by that cash holding.

What’s your top tip for a beginner investor?

Invest in things you can understand.

The team behind the fund

Picton Property Income is different to other funds in that it has internalised its investment management function, meaning there’s no investment management middleman. The 11-strong team comprises five real estate professionals, three qualified accountants, and three support staff. Chief executive Michael Morris is responsible for overseeing his staff and for devising and overseeing the implementation of the company’s investment strategy.

Picton Property Income Key Stats

Launched: 2005(i)
Fund size: £463.8 million(ii)
Number of assets: 52(ii)
Yield: 4%(iii)
Ongoing charges figure (OCF): 2.47%(iv)
Sources: (i)Picton (ii)Picton Interim Results, 30 September 2017 (iii)Picton, based on closing share price, 1 November 2017 (iv)Morningstar, 29 November 2017

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View Moneywise’s First 50 Funds for beginners.

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Moneywise Children’s Savings Awards 2018

With our pick of the best cash and investment-based accounts, you can give your kids a head start this year and get them into the savings habit.

School will teach your children and grandchildren to read and write but, with financial education only on the perimeter of the syllabus, the job of teaching them about money and how to manage it very much comes down to family.

Whatever their age, the best starting point will always be a savings account into which they can pay in their pocket money, as well as cash gifts at birthdays and Christmas. Over the years, they should learn the benefits of putting money aside rather than spending it straightaway.

Older kids may also be keen to start investing some of their money – an investment account can be a great introduction to economics and give them a grounding in the stock market and how it works.

Help kids to learn the value of money

Alternatively, it may be that you want to help your kids with the financial challenges of young adulthood and build them a nest egg to take away to university or put down on their first home. You may even want to put retirement plans in place and cash in on the tax perks associated with children’s pensions.

Whatever the savings goal of you or your child, the Moneywise Children’s Savings Awards are here to help you choose the right account, with our pick of the best cash and investment-based accounts.

Moneywise Get Financial Education Working Campaign

Best easy-access account

Let’s start off with the account that every child should have – a straightforward savings account that they can pay small amounts into and dip into whenever they need.

We were looking for accounts that combined consistently competitive interest rates with hassle-free access. Accounts needed to have a low opening balance and be open to savers across the UK.

Our winner – Penrith Building Society Junior Saver – takes the award for the second year in a row. It pays 2.75%, which includes a 1.25% bonus paid each year on the child’s birthday. It can be opened with £1 and managed in branch or by post.

Tom Adams, head of research at Savings Champion, says: “With a consistently competitive interest rate and one that many adults would quite happily receive in the current market, this is a straightforward, simple savings account for a child. A ‘birthday bonus’ is a nice touch and an incentive to keep saving, which is a great way to get a child into the savings habit early. While the rate reduced from 2.65% in September 2016, as a result of the base rate change, the previous rate was unchanged since September 2013 – and has been unchanged since, so it has been a consistent performer over the years.”

Coming in a very close second place is the Santander 123 Mini Current Account. It’s easier to run than our winner – available online, over the phone and by mobile banking. However, its tiered rates mean it doesn’t pay as much to savers with smaller balances and the minimum opening balance is higher. Savers need £100 to earn 1%, £200 for 2%, rising to 3% once they have £300 in their account.

Mr Adams says: “Launched in 2014, this account simply offers one of the very best interest rates on the market for a child and can be accessed in a variety of ways, a feature that is bound to appeal to today’s tech-savvy children. However, it misses out on top spot because the headline rate is only available when you have £300 in the account, so those with smaller amounts to deposit will miss out. The rates have remained unchanged since launch, at a time when many rates are still being cut, so it has certainly been consistent over the past three years. can be accessed in a variety of ways, a feature that is bound to appeal to today’s tech-savvy children. However, it misses out on top spot because the headline rate is only available when you have £300 in the account, so those with smaller amounts to deposit will miss out. The rates have remained unchanged since launch, at a time when many rates are still being cut, so it has certainly been consistent over the past three years.”

Best youth account (11-plus)

Once kids get a bit older, they will want an account they can monitor easily and with a cash card so they can withdraw money from ATMs.

The best of the bunch here is the Santander 123 Mini Current Account. The savings rates are tiered and paid on balances up to £2,000, and there’s no minimum pay-in, although you will need at least £100 to start earning interest. It is available for children aged between 11 and 18.

Commenting on our winner, Mr Adams says: “It’s a great way to introduce young people to a current account and to give them the independence to run the account themselves. The ability to do mobile and online banking, as well as have a debit card, is bound to appeal. Although the headline rate only applies on larger balances, this could teach young people the importance of saving and building up a lump sum.”

WIN £12,500 of prizes for schools with our 2018 Personal Finance Teacher of the Year Competition

Second place goes to last year’s winner, HSBC’s MySavings. It is available from ages seven to 17, although the current account functionality and debit card are only available from age 11. Balances up to £3,000 earn a decent 2.75%.

Mr Adams says: “It’s a good option for those aged 11 or over, as it pays a competitive interest rate and also comes with a current account with a Visa debit card. Keeping your savings and current account separate can be an effective saving strategy, which a young person can take into adulthood.”

Best Junior Cash Isa

It’s a good idea to have an account that can be used to save up for things whether it’s the Lego Millennium Falcon or the must-have pair of trainers. However, for longer-term savings goals – in other words, money you don’t want children to spend yet – a Junior Isa (Jisa) makes sense because they won’t be able to touch the money until they are 18. There is also the added bonus that it will grow tax free.

Outside a Jisa, young savers have the same personal allowance as adults (£11,500 in 2017/18), so tax won’t be a problem for most. However, if they earn more than £100 in interest from money given to them by their mum or dad, parents will pay tax on the money at their marginal rate.

In the current tax year, young savers have an annual Jisa allowance of £4,128 a year.

Coventry Building Society Junior Cash Isa wins this award for the second consecutive year. It only takes £1 to open the account and it pays a cracking 3.5%.

Mr Adams says: “An easy choice, this is the best rate on the market and has been one of the very highest paying for its entire lifetime – it even remained unchanged following the cut in the base rate last year. It is the clear choice for those looking for a Jisa – consistent and market-leading, it’s simply one of the best options around.”

Our runner-up is also the same as last year: the Nationwide Smart Junior Isa, which pays 3.25%.

Mr Adams says: “It’s a simple, straightforward and competitive account, and its previous form gives it the edge over the rest of the pack.”

Best Stocks and Shares Junior Isa

If your child is saving for big expenses, such as university fees or house deposits, and has a longer period of time to save, then it is worth considering equity-based investments.

Over 10 years, saving £50 a month into a cash Jisa, paying 3% interest a year, would give a child a nest egg of £6,987, according to figures from investment platform Hargreaves Lansdown. That’s not to be sniffed at, particularly when compared to the miserly savings rates on offer to adults, but if the same amount was invested into a Stocks and Shares Junior Isa and had an annual return of 6% after charges – which is the type of return that you should expect, on average, from a long-term stock market investment – it would grow to £8,194. The value of the investment could fall if the stock market does. However, over longer time periods you are likely to get a higher return than cash.

Board games to boost your kids’ life skills

Our winner this year is last year’s runner-up, Charles Stanley Direct – an investment platform that lets you pick the funds to put in your child’s Jisa.

Patrick Connolly, judge and chartered financial planner at independent financial advisory firm Chase De Vere, says: “This platform combines very competitive charges with the use of clear, easy-tounderstand information and language, which can point investors in the right direction without overloading them. Additional support is provided for customers by a good quality helpdesk service.”

Taking runner-up position is Hargreaves Lansdown.

Gavin Haynes, judge and managing director at Whitechurch Securities, says: “The Hargreaves Lansdown Junior Stocks and Shares Isa provides a very easy-to-use online service for the DIY investor and the website is helpful for inexperienced investors.

Best Investment Trust Savings Scheme

These plans are a cost-effective way of saving for little ones over the long term and they often take smaller deposits than fund-based Isas making them easier to access.

Investment trusts, like funds, pool investors’ money to buy shares, but as listed companies in their own right they have different rules. One is that they can borrow to invest, which can be a boon in rising markets.

For the third consecutive year, the award goes to the Baillie Gifford Children’s Savings Plan.

Mr Haynes says: “For long-term investors, I believe that Baillie Gifford provides an excellent choice. It has a wide range of strong-performing investment trusts, with very reasonable management fees. My favourites would be the globally diversified global equity investment trusts Scottish Mortgage* and Monks.” *Scottish Mortgage is a member of Moneywise’s First 50 Funds for beginner investors.

Coming in second place is Aberdeen Asset Management.

Founder of financial website Candid Money Justin Modray says: “The plan provides a good range of Aberdeen investment trusts and, unlike most of its peers, there are no purchase or annual fees. It also benefits from low minimum investments.”

A third of parents admit to being more cautious when investing for their kids

Savings accounts details correct as of 16 January 2018.

Methodology and judging

Tom Adams, head of research at Savings Champion, selected the winners in our cash categories, basing decisions on three years of savings rates data. Accounts also needed to be accessible to children across the UK and have no strings attached. Our investment categories were judged by a panel of independent financial advisers (IFAs) including Patrick Connolly, chartered financial planner at Chase De Vere, Gavin Haynes, managing director at Whitechurch Securities, and Justin Modray, founder of Candid Money. Thanks to Boring Money for supplying a shortlist for the Junior Stocks and Shares Isa category and the Association of Investment Companies for its help on the investment trust saving plan shortlist.