so you save kid's child benefit money?

Rummer

Hello

I remember my Mum using it to pay her gym membership when I was younger so that she could relax away from us :rotfl::rotfl::rotfl:. That said we never ever went without and I had a full and loving childhood. In my case I save £30/month into my DD trust fund this combined with birthday money will go in until it reaches the £5000 amount and then I will open an account that I have control over and put all the CB money in that so that I have a lump sum saved for her to start uni/buy a flat/car whatever.
I had planned to keep topping up her trust fund until she was 18 then my OH pointed out she could get the money and blow it on totally unsuitable things so I had a rapid change of heart .

Kaz2904

funky-footprints wrote: »

Kaz2904 wrote: »

Mine goes into the general slush fund. The kids get clothed and shod, holidays, food, clubs etc. They get £2 per week pocket money (aged 6 & 4) and £25 per month goes into pensions for them which have been running for nearly 3 years.


my eldest 2 are 6 & 4 and dont have pocket money yet ? what do yours spend the money on ?

TBH not a lot really! They tend to save it up. However they both wanted DS lites (I'm now very aware of the previous comment!) but I said it was too expensive. The deal was that they could ask people to contribute towards them for Christmas or birthday presents. Any shortfall had to be made up from their pocket money.
Any more that they have is to be spent on the "frivolous" things that I don't think they should be expecting.

painted_lady

At the moment I have 1 DS aged 18 months. It goes into the pot, but he does have expensive baby swim lessons, baby gym membership, goes camping in the campervan, thats without counting the nappies, food, gas, electric, clarks shoes etc. He doesnt go without. I dont feel guilty. My mum couldnt have survived with us if she didnt use it for general budgeting in the 70s/80s.
I do however put lump sums in his account at birthdays/christmas, he is too young to know the difference and everyone else gets him toys (I do get OH to buy him something though)

loveandlight

Posted by Treading Water
When dd1 was born we were quite comfortably off and put the money into an ISA, after a few years and 2 more kids we had a sensible amount and used it to pay the deposit 2 small properties - back when they were quite cheap (10 years ago).
They are now self funding, which is just as well because it now gets spent on Gym, swimming, clothes and pocket money.
The houses will be used to fund Uni or weddings (all girls) or even for a deposit on their own homes

This post proves what a great place England is to live if you have children and are comfortably off. What other country would give you free money to enable you to buy extra homes for yourselves?

jellyhead

it's not free money - the taxpayers have paid a huge amount into the pot and are just having their tax burden adjusted to take into account the expense of their children, that's all.

I wish I was rich enough to be able to save the whole lot, but am happy for those who can. I think child benefit should be available to every parent. It's cheaper to administer if it's not means tested, and there should be things that are available to all - either give child benefit to all, or scrap it and adjust the tax code.

I'm poor, I save £10 a month for each child but can't afford more. The children get their swimming lessons and gymnastics, clarks shoes etc. though so it probably works out in the end. I've also given the eldest an account with the same amount he'd have got if the child trust fund had been running when he was born, because it doesn't feel fair if one child gets it and the other doesn't.

tiamai_d

loveandlight wrote: »

This post proves what a great place England is to live if you have children and are comfortably off. What other country would give you free money to enable you to buy extra homes for yourselves?

So it's just England that gets 'free money' is it? I get child benefit and I live in Scotland, is mine not free? Is it OK for me to claim it then? Are you sure? I used mine to buy a business, you still sure it's OK because I live Scotland?

Or are you just a wee bitty jelous that your not able to buy stuff with all this free money.

After all, I did only have kids to get all this free money! And one of them is disabled too, so I get even more free money! Yipee!

Oh and gosh, I aint never paid no taxes, not even the VAT on my crisps or nuffin.

F**k wit.

welshgirl2402

Our Daughter is 3 and we've never spent her child benefit - it goes into a separate acct and we've mpened a cash ISA which we put it into. I'm a SAHM so its not like we dont need the extra money but we figured that we'd need the money more if she wants to go to Uni - to help her with a deposit for a house etc etc. When (hopefully) we have another child we'll do the same and split it fairly.
I think if itd gone into our normal joint acct it would've got spent on all the things that toddlers need; shoes, clothes etc etc - oh and baby annabel as my daughter tells me she really NEEDS one!!!!!!!!!!!!!!!!!!!!!!!!

hcar

With me from July to December every pound of it goes on both their birthdays and christmas presents. From January to June it goes on what ever they need-clothes, shoes, days out or like this January and febuary coming up beds for them what every is left over goes into their own saving account.

vix2000

welshgirl2402 wrote: »

I think if itd gone into our normal joint acct it would've got spent on all the things that toddlers need; shoes, clothes etc etc - oh and baby annabel as my daughter tells me she really NEEDS one!!!!!!!!!!!!!!!!!!!!!!!!

As it is meant to be used for.

If it was meant for the child the government would have it paid to the child, like like the child trust fund, and not allow access to it until the age of 18. It is meant to help towards the costs of bringing up children, not exclusively for the use of the child.

Welshlassie

jellyhead wrote: »

it's not free money - the taxpayers have paid a huge amount into the pot and are just having their tax burden adjusted to take into account the expense of their children, that's all.

I wish I was rich enough to be able to save the whole lot, but am happy for those who can. I think child benefit should be available to every parent. It's cheaper to administer if it's not means tested, and there should be things that are available to all - either give child benefit to all, or scrap it and adjust the tax code.

I think you are talking about child tax credits - which is means tested. Households with children with an income upto £66,000 (last time i looked) are entitled to something

This thread is about child benefit which isn't means tested and everyone with children is entitled to it. Around £18+ for the first child and £11+ for each subsequent one per week regardless of the households earnings.