New research from Octopus Money reveals a growing tension between children’s increasing curiosity about money and parents’ reluctance to hand over financial control at 18.
A survey of 2,000 UK parents aged 45–65 found that while 41% say their children are interested in saving or investing, and 15% are actively asking questions, only 22% feel comfortable giving them access to long-term savings when they reach adulthood.
This presents a challenge for families. Under current rules, money saved into a Junior ISA (JISA) is automatically handed over to the child at 18, regardless of their financial experience. Yet more than half (51%) of parents say they would prefer their children to wait longer before taking control.
Among those who would delay access, 53% believe 18 is too young to manage a large sum, and 46% worry they would spend the money too quickly. Many parents also want savings protected for the future, with 41% saying funds should be reserved for major milestones such as buying a home, and 37% wanting the investment pot to grow for longer.
When is the right age to hand over savings?
While 18 is often seen as the point of financial independence, nearly a third (32%) of parents believe 25 is a more appropriate age for children to access long-term savings.
Parents’ hesitation is driven by concerns about maturity and behaviour. Mothers also tend to be a little more cautious, with 57% saying 18 is too young to manage a large sum (vs. 49% of fathers), and half (50%) concerned about impulsive spending compared to 42% of fathers.
Parents are turning to Junior ISAs to build positive financial habits
Despite children automatically gaining control of their savings pot at 18, many parents are using Junior ISAs as a way to prepare children for that moment.
Nearly half (47%) of parents who have used a JISA say they chose it for long-term, tax-efficient saving. Meanwhile, 39% wanted to give a gift with lasting value rather than something spent quickly.
Over a third (32%) see JISAs as more stable than investing in individual stocks, and the same proportion view them as a more sensible alternative to cash gifts. This suggests many parents are looking for ways to build financial understanding and confidence ahead of adulthood.
Helping families start money conversations earlier
Beyond their financial benefits, JISAs are also playing an important role in bringing children into family finance discussions from an early age. One in four (26%) parents who have gifted money through a JISA say it is a useful way to start conversations about saving and money with their children.
While many parents are cautious about handing over control at 18, tools like JISAs can help build confidence over time by involving children in financial decisions from a younger age.
Tom Francis, Head of Personal Finance at Octopus Money, said: “Parents shouldn’t feel that turning 18 is the moment to suddenly hand over the reins to financial responsibility. In reality, confidence with money is built gradually, through early exposure, regular conversations, and small, practical experiences over time.
“That can be as simple as giving children regular pocket money to manage, helping them understand the value of saving, or showing them how money can grow over the long term. Tools like Junior ISAs can play a useful role here, not just as a way to put money aside, but by making saving visible and tangible. Bringing children into the financial journey earlier, for example by involving them in family conversations with a financial adviser from 16, can help boost their confidence with money and embed good habits from a young age.
“The key is consistency. By giving young people opportunities to engage with money before they reach adulthood, parents can help ensure they feel informed, capable, and in control when the time comes to manage their finances independently.”
Notes to Editor
- Research conducted by Opinium, among a sample of 2,000 Nat Rep UK parents aged 45-65. The data was collected between 18.02.26 and 02.03.26
- Junior ISAs (JISAs) are long-term, tax-free savings accounts for children under 18. The money belongs to the child and they can take control of the account at age 16, with full access to the funds at 18.
- “Among those who would delay access” refers to parents who said they would prefer their children not to access long-term savings at age 18.
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