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Financial tips for families this festive season

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Photo: Getty Images
Photo: Getty Images



1. If you want to give your children or grandchildren a gift that truly keeps on giving, consider setting up a tax-free savings plan with unit trusts for them, so that they can start building a nest egg from a young age. This will unlock the power of compound interest over time and the lesson that this provides is invaluable. Not only will it help children build up meaningful savings over time, it’s also a great way to start the conversation about how money works, especially if you can talk to your children about how compound interest works.

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