Grandparents still wondering what to buy their grandchildren for Christmas this year might want to head to their local bank instead of the nearest toy shop. Saving small amounts for young people from an early age can leave them with a tidy nest egg for when they need it.

Riccardo Ostini said that being given a few thousand pounds by his grandparents when he turned 20 was the “best economics lesson” he could have had.

Ostini, now 27 and living in London, said: “They saved a few hundred pounds yearly from when I was born, spending less on things like toys or gifts and saving for the future instead.

“I was grateful that they thought long-term and helped me when I needed it the most.



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