New figures from The Children's Mutual reveal the popularity of Child Trust Funds among parents.
Child Trust Funds are growing in popularity and more than four million British youngsters - 30 percent of all people aged under 18 - now have one.
Additionally, almost one million of these accounts are being added to each month by direct debit, with the average payment into a fund held by the Children's Mutual standing at £24. This could provide a windfall of £9,750 for a person turning 18 if the money had been added monthly since birth, according to the Children's Mutual's figures.
David White, chief executive of the organisation, said: "Positive parenting and having a positive effect on your children's lives can take many forms. One way in which parents across the UK are taking very positive steps to save for their children's futures is by using the Child Trust Fund."
Mr White added that the funds allow parents to give children a "firm financial footing as they enter their adult lives".
The 2009 Budget, announced by chancellor Alistair Darling last month, revealed that disabled and severely disabled children would receive an additional annual payment of £100 and £200 respectively from the government. The Child Trust Fund said that these extra payments could provide an extra £3,000 and £6,000 for the recipients when they turn 18.
