Today, I am really excited to let you know that I’ve joined forces with The Share Foundation, an amazing charity which helps reconnect young people with their Child Trust Funds. “What’s a Child Trust Fund,” I hear you ask… well, if you were born between 1st September 2002 and 2nd January 2011, thanks to a government initiative at the time, a trust fund was set up in your name.
The idea was to help children learn to be good at managing their money and develop lifelong savings habits from an early age. Unfortunately, not all parents or guardians claimed their child’s trust fund at the time, which means HMRC allocated the accounts instead. As a result, lots of these are now lost meaning there are over a million accounts out there which could be worth over £1,000.
However when the young people with Child Trust Funds turn 16, they can take over managing their own accounts in preparation for getting access to their money at 18. So, with us all currently spending more time indoors than we might usually, there’s no time like the present to check whether one of them has your name on it!
In this post I’ll explain how you can find your fund and reconnect with your lost money. It’s a quick and easy process – what have you got to lose?
What is The Share Foundation?
The Share Foundation is a non-profit charitable organisation on a mission to help young people locate their missing Child Trust Funds.
The money is these funds could help young people – particularly those from low-income backgrounds – in so many incredible ways; for example, starting driving lessons, investing in their future, saving for their first ever property, helping fund education or even travelling around the world on an unforgettable GAP year.
How to find your fund
If you’re 16 or 17 and looking to find your Child Trust Fund yourself, you should ask your parents if they remember opening the account first. If they don’t remember, please visit https://findctf.sharefound.org/ and complete The Share Foundation’s simplified search request using your National Insurance number (which will have been sent to you by HMRC when you turned 16).
Sending a printed ‘Subject Access Request’ form via The Share Foundation to HMRC will result in them sending you directly the location (account provider details) of your Child Trust Fund. It’s so simple and takes only a few minutes to complete online, so it’s absolutely worthwhile checking to see if you have one.
Super simple right?
It’s completely FREE to run a search and there are no catches to using this service; The Share Foundation simply wants to put the money back into the pockets of young people – where it truly belongs.
To me, it’s a no brainer and I’d love all 16 and 17 year olds to follow those simple steps above to reconnect with their lost money and start using it for their future.
You can spread the word and help other young people locate their funds, by sharing the #MissingMoney hashtag on social media.
~ THIS IS A SPONSORED POST ~
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**FRIENDLY REMINDER: THIS POST MAY CONTAIN AFFILIATE LINKS THAT HELP OUT A LOT IF YOU CHOOSE TO PURCHASE FROM THEM (IT DOESN’T COST YOU ANYTHING EXTRA). I WILL ALWAYS TELL THE 100% TRUTH.
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