How can you secure your child’s financial future from birth?

In practice: a smart way to start building your child’s future today 

Flavie and François, young parents to six-month-old Romy, want to enjoy the present while preparing for their daughter’s future, without putting their budget under strain. 

Flavie wants to start saving for her daughter today, so she can give her ahelping hand when she is older, while François, hopes his daughter will pursue higher education and wonders how they will be able to finance it when the time comes.

They choose to open a young people pack account alongside a youth savings account to benefit from attractive interest rates. Small amounts are automatically paid into the savings account each month, helping her savings grow gradually  without having to think about it.

The birth of a child is also an opportunity to start planning for the future. By setting money aside regularly, even small amounts, for example through a monthly standing order, your savings have time to grow and support your child through the major milestones ahead, without requiring significant effort.

Opening a savings account from birth: a simple foundation to put in place   

One of the first steps is often to open a savings account in the child’s name. This account makes it easy to keep track of all the money received over time, whether for birthdays , gifts from family members or other occasions.

Unlike a current account, a savings account offers the advantage of generating interest, subject to the applicable terms and conditions. This means that the deposited funds do not remain inactive, allowing your savings to grow over time alongside your regular contributions. It is often the first building block in a strategy implemented over several years.

From the moment your child is born, opening a BGL BNP Paribas Young People Pack gives you access to a wide range of various solutions to build up savings for their future plans.

For long-term planning: the Growth Savings account

• A more advantageous interest rate: your savings grow faster than with a standard savings account.
• Protected capital: the funds are blocked until the child turns 18, which helps prevent impulsive withdrawals and ensures that an amount is available when they enter adulthood.
• Flexible payments: you can pay money into the account regularly, with small amounts from birth.

For savings that remain available: the Youth Savings account  

• The account can be opened at any time: whether your child is a baby or already older, you can open a youth savings account until they are 29 years old.
• Benefit from a higher interest rate than with a standard savings account.
• The funds remain available at all times.

From the moment your child is born, open a Young People Pack in their name to start saving for their future plans, such as their studies, first home or other important milestones. With this account, benefit from an evolving package that adapts to every stage of their life:

• a current account with no fees until the age of 25, covering 11 currencies;
• a Growth Savings account, blocked until they are 18 years old, with an attractive interest rate;
• a Youth Savings account with an attractive interest rate;
• A debit card from the age of 12, as a first step towards financial independence⁽¹⁾⁽²⁾.

Over the years, birthdays, celebrations or monetary gifts often represent several hundreds of euros. Some parents choose to invest part of this money directly into their child’s future.

This may involve making a payment into a savings account, but also, from a longer-term perspective, investing in the financial markets through a securities account. Even with small amounts, investing early makes it possible to benefit from a longer investment horizon and thereby increase the potential of the investment.