""You'll put in €30,000, but you'll end up with about €41,500." Personal finance columnist Sinead Ryan doesn't mince her words when it comes to the potential power of child benefit, if it's saved strategically. On the latest episode of Money Talks, she explains to Katie Byrne why this €140 monthly payment is one of the most misunderstood parts of family finances. For some households, it's essential income."
"For others, it becomes a missed opportunity simply because life with children is expensive, chaotic and full of surprises. But for parents who can put even part of it aside, Ryan outlines how time, consistency and compound growth can turn a modest monthly amount into a substantial 18-year fund. She explores everything from deposit accounts to unit-linked investment products, the pros and cons of risk, and why choosing a bank other than the one you use daily might be the smartest move of all."
A €140 monthly child benefit can become a substantial 18-year fund if saved consistently, turning roughly €30,000 of contributions into about €41,500 through compound growth. Time, regular saving and reinvestment magnify modest monthly amounts into meaningful future sums. Available holding options include deposit accounts and unit-linked investment products, each with different risk and return profiles. Choosing a bank other than the everyday account can improve terms. Parents should address practical questions well before higher-education costs arise. Starting later still yields benefits, even when children are in secondary school.
Read at Irish Independent
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