so you save kid's child benefit money?

Loz01

When I was a kid the CB my parents got just went into the general pot for bills and clothes/treats for me, I was never given it like pocket money, tho some of my friends were given it all. I just think its a general contribution for bills/clothes/activities for kids, not pocket money for sweets or a DS Lite or whatever the latest game is.

misswig

Mine goes into the 'pot' and helps pay mortgage, clothes, shoes, swimming lessons, toys, endless list of things that the school ask to be paid for (xmas cards, harvest festival contributions, shoe box appeal etc etc) trips to the cinema, bowling, play area etc. I do save £25 per month in his CTF account tho

abbecer

It just goes into the pot along with DH wages. At the moment we need every penny. When I start my new jobs and we have sorted out our finances I would like to start the boys some savings with it.

Rebecca x

liney

basmic wrote: »

Perhaps the name of the benefit, 'Child Benefit' suggests the money is to benefit the child?

If my phone bill happened to be £18 a week, then i could say 'my child benefit pays for it' but in reality any of the pound coins dropping into the pot could be paying for it. Children do not have the right to £18 a week's worth of treats because the goverment pay child benefit.

As for paying into a childs bank account, they wouldn't do that 4 years ago when i asked. Things must have changed since then.

stingylolo

Mine all goes in nursery fees... and am still out of pocket !

SuziQ

I am adding this as I answered someone's questions on this subject in the arms


I don't know why you would feel that Child benefit should be saved or used on luxuries? It is a non means tested benefit,which was introduced in 1977 to replace Child Tax allowances,and the act stated it is 'payable to the person responsible for caring for the children and managing the budget for their food,clothing and other necessities.' It was seen as a fairer way of getting help to poorer families,who would have been unable to take full advantage of the previous tax alowances due to low income.Initially it doubled the number of families with children recieiving the benefit and was clearly meant for necessities not luxuries.
When my first child was a baby I would save it as we both worked full time and had a low mortgage but I was never able to do so once I had my second as child care radically reduced my income.

I just take exception that I am supposed to feel guilty for spending the benefit on what it was originally given for. I know when I could afford to save it I didn't really need it.

liney

stingylolo wrote: »

Mine all goes in nursery fees... and am still out of pocket !

Have another one; you'll be quids in!

Lunar_Eclipse

bathgatebuyer wrote: »

it merely maintains that the 'haves' have even more as their children get ponies, cars, big birthday and Xmas presents as a result of CB while those who do desperately need it to survive do not (as it is being spent on the basic essentials for life such as food and clothes). IMO it maintains this wealth gap and possibly exacerbates it.

I really don't think CB has much impact on the wealth gap, let alone help to exacerbate it. It's small change to the people you're thinking of using it to buy ponies, cars and the like for their children. CB wouldn't facilitate that level of spending/expense.

Whilst it is a huge financial help to many families, it isn't enough to keep a "rich" child spoilt.

bathgatebuyer

Lunar_Eclipse wrote: »

It's small change to the people you're thinking of using it to buy ponies, cars and the like for their children.

So, should they get any benefits assistance then?

In situations where some families put the CB aside for the next 18 years and present it to their kid to allow them to buy a car or go to Uni or put it into a deposit for their first home, they certainly have a huge financial advantage upon those whose parents had to use it to buy food and clothes for that kid growing up? It certainly does not remove the wealth gap. In my opinion, it maintains it, or even exacerbates it. In relative terms, a CB payment paid weekly to an affluent family is buttons by comparison to a family living on the poverty line who use a proportionally larger share of their income on the basics.

Sweet4mySweet

I try and save as much of CB as I can so by the end of the summer I buy all the school equip my child would need. Went to Matalan (info from this site) and spent £80 on new (school) clothes etc which would have cost well over £150.

:T