The £4 uniform that earns you £10,000

Traditionally, the average family spends more than £320 a year on uniforms for up to 12 year olds. Thanks to retailers such as George at ASDA offering uniforms at £4, spend could be as low as £32 a year - saving a family up to £290.

ASDA Financial Services is calling on parents to take advantage of these savings and bolster their Child Trust Funds (CTF). If the full cost saving of £290 were invested in the same CTF account every year until the child's 18th birthday, it could be worth in the region of £10,000.

ASDA's Head of Insurance Gideon Ingham comments, "A saving of nearly £300 a year is great news for struggling families and should help compensate for the rising cost of other items. We urge parents to take advantage of these deals and, if they have children with CTF accounts, invest as much as possible of these savings in their CTFs to help their kids become top of the class savers."

Investing in a CTF allows parents, family or friends to build a lump sum which could be used towards their child's first car, a deposit for a house, university education or something equally important.

Parents taking out a Child Trust Fund through ASDA even receive an added incentive of a £5 ASDA gift voucher for opening the account - enough to buy a complete school uniform at the store, or a £25 ASDA gift voucher if they set up a Direct Debit to contribute £10 or more a month

For more information, visit asdafinance.com