Saving money for our children’s future is something we would all love to be able to do. So anything that makes this easier is welcome in our humble opinion.
Beanstalk, the brand new app brought to you by the brilliant team behind the money back website KidStart, is set to change the way families save for their kids.
From talking to parents, Beanstalk’s founders could see that the savings market for kids was broken. Almost every new parent wants to put something aside for their children to help launch them into adult life, but very few do, often because the existing products are confusing or poor value.
Even when parents do something, they often just keep it in cash. This may not be the right choice for longer term saving as the value can be eroded by inflation.
That’s why Beanstalk was born – the revolutionary new way for families to make a real difference for their children and themselves.
How does Beanstalk work?
• It’s simple – you can add all your children and yourself on to one app. No more paper statements or trips to your branch, this is all online and at your fingertips.
• All the family can help – Beanstalk lets grandparents, friends and the wider family all contribute easily to your kids’ pots.
• You don’t need to put any money into open an account and start saving – whatever your family’s budget, they have a range of tools you can take advantage of:
•Use KidStart to earn free savings
• Round up your purchases to save little and often
• Top up or set up regular contributions if you would like.
• It’s designed for growth – at 0.5% the fee is one of the lowest meaning more saved for your kids.
Beanstalk are on the lookout for tech savvy parents out there to give their new app a spin. If you’re interested in changing the way you save for your kids or want to start, you can find out more and download the app here.
Note: Capital at risk. As with any investment the value can go down as well as up.