fund

Nest egg that will help dance student Freya step up to adult life


Seventeen-year-old aspiring actor Freya Taylor-Lester is at college studying A-levels in drama, dance and textiles. She has a child trust fund due to mature at around the same time she finishes college in spring 2021.

“Mum has been paying into my child trust fund account every month to build it up, and, over the years, that has become a useful nest egg that will help me to start adult life,” says Freya, from West Sussex, whose CTF is run by OneFamily. “I have two plans for my future, and the first is to go to university or dance college in London.”

If and when that happens, she hopes to be able to transfer her existing part-time job at Waitrose to a London branch, which would help to finance her through college.

“If that worked out, I probably wouldn’t need to touch much of my trust fund money, so I’d reinvest it for a few more years.”

Freya says that if she didn’t get into university or dance college, she would take a gap year and reapply the following year. “I want to travel – I’d love to visit New York for six months. I’d imagine it would cost quite a lot, so I would use my fund for that. It would be such a fantastic experience, I wouldn’t be angry with myself for spending it.”

She adds: “I’ve been talking to my parents quite a lot recently about money and what my plans are. They’re great at giving advice and really supportive of what I want to do; they’re happy so long as I’m happy, though Mum would prefer that I keep it invested if I can. She thinks that if I leave it until I’m 21, and at a different point in my life, I’ll spend it more wisely, which is sensible. Dad thinks it would be amazing for me to go to New York.

“It would be good either way – it’s nice that my fund has given me the opportunity to do something I might not otherwise have done. I think they were a really good idea – having that initial bit of money when you turn 18 can really help to start you off in life, especially if you are leaving home.

“Having some money behind you is definitely a good thing. It’s also a nice way to mark becoming an adult.”



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.