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Savings for kids

Noel Whittaker | June 11 2008 | The Sydney Morning Herald & The Age (subscribe)

What is the best way to invest this money to earn better returns without risking too much?

Q.

We have $6,000 saved for our kids in a children's savings account but it is returning very poor interest. What is the best way to invest this money to earn better returns without risking too much?



A.

Use one of the online accounts offered by the major banks - they are paying at least 7 percent with no fees.

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