My daughter is 12 and starting to really show her independence. Up until now we've had no formal way of giving her pocket money - she's just asked for money when she's wanted something and we've given it. But now I'm thinking that weekly pocket money is a better idea so that she learns the value of money. My husband thinks I'm being old-fashioned and that we should just keep going as is. Can you help is resolve this issue?

Miles Bingham considers some important implications for parents opening a Child Trust Fund for their offspring.

Written by Independent Financial Advisor Nick Thompson, The Guide to Saving for Children has been compiled especially for Parenting Without Tears and can be downloaded.