Martin Lewis warns children born between these years are missing out on thousands of poundsITV
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00:00Really important for anyone aged 13 to 22.
00:03Specifically, we're talking about people born between
00:05the 1st of September 2002 and the 2nd of January 2011.
00:12There was a thing called the Child Trust Fund.
00:14It's a tax-free form of savings that everybody of that age
00:17automatically had one set up.
00:18In some cases, your parents chose a savings or investments,
00:21or if they didn't, it went to a default form of savings
00:24and investment.
00:25Now, the key to it is the state added money automatically.
00:30So everyone had at least 250 quid in it from the state.
00:35Now, many of the people born in that age
00:37are now over the age of 18.
00:39So they're between the ages of 18 and 22.
00:41Like Sam.
00:42Just like Sam.
00:43And once you're age 18, you can access that cash.
00:47But, and I need to put my glasses on to read this number.
00:49Go on, do it, the new glasses.
00:50671,000 18 to 22-year-olds have not touched their money.
00:56And there is an average of £2,212 in these accounts.
01:02Now, the reason I'm doing this today
01:04is we've started to see a trend on TikTok of no-win,
01:08no-fee firms advertising to give you access to your money.
01:12Some of them charge 350 quid.
01:13Some of them are taking 25%.
01:16Do not touch them.
01:17Do not sniff them.
01:18Do not smell them.
01:19You do not need to use those firms.