Planning for your child’s future is a good ideaGETTY IMAGES

Q: My husband and I have recently had our first child, and have started receiving child benefit of €140 per month. Rather than let this disappear into our budget — we have a mortgage and usual expenses but are managing OK — I want to invest it with the intention of having earned something on it by the time they turn 16 and the payment finishes. At least then we’ll have a lump sum to show for it and to put towards college fees (we are not great on budgeting I have to admit, so if we don’t do this I’d be afraid it would slip through the cracks entirely). But we haven’t a clue where to put it each month — have you any advice? Or should