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UK households with children under age 18 are being urged to spend £50 in November. UK households can turn £50 a month into £18,000 for your child at age 18.

A junior Isa is a long-term, tax-free way to save for children in the UK. The accounts were introduced in 2011 to replace the child trust fund (CTF), which was discontinued amid government spending cuts.

Laura Suter, the director of personal finance at the investment company AJ Bell, says: “Whichever parent opens the account will be the registered contact, who is then responsible for choosing investments and managing the account until they turn 18.

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"If your child already has a CTF, you’ll need to transfer it over when opening a junior Isa, as bo

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