At the same time the amount of money in these tax free accounts is running at an all-time high, according to a new analysis.
Alternatively, it could provide a safety net to protect them against future financial shocks as they enter the world of work.
CTFs were scrapped in 2011 as a result of the austerity measures which followed the global financial crisis. Instead parents were offered Junior ISAs as a way to save money for their children’s future.
The latest subscription figures also mark a massive ten-year increase of 1,607 percent since the Junior ISA was first introduced in 2011/12.
The analysis by easyMoney shows that the amount of money being put into Junior ISAs has increased significantly to £1.5 billion – up 20.3 percent on the year before.
The chief executive of easyMoney, Jason Ferrando, said: “When we feel uncertain about the strength and security of our personal financial situation, it’s common to look towards the future and think, how can I make use of the money I have today to ensure I am comfortable in the future.
“The same applies to our children – we are keen to do what we can to make sure they have some savings to use or build on once they enter adulthood.
“However, in the modern world, children don’t only need financial assistance from parents when they’re young, with many parents choosing or needing to continue supporting their clan well into adulthood, especially when it comes to things like purchasing a home.
“So if your kids are already over 18 and therefore ineligible for a Junior ISA, there are other ISA avenues that you can explore.
Innovative Finance ISAs are a great option because they offer strong rates of return and sidestep the traditional financial institutes that are so vulnerable to the economic shocks and uncertainty that have become commonplace in our modern world.”