so you save kid's child benefit money?

*Louise*

plzhelpmesave! wrote: »

I have 3 little ones and get £175 a month which is £2100 a year, tax free. WOW, first time i have every added that up!

Even better, because its every 4 weeks instead of monthly - it works out at £2275 (Got 3 kids as well):T

I save ours towards their christmas. It also gets used for emergencies during the year if needed.

I would love to be able to save all the money for the kids, but it's just not possible. I do put some money into their savings accounts as well every month (£60), but couldn't give them £175.

amandada

Like most posters on this thread, it all goes into the pot and goes towards those little luxuries for the children...you know the sort...roof over head, food on table....

foreversomeday

Our baby's will go into the pot and pay for a roof over his head and heating and water etc.

When I left school my mum kept the "2nd child" amount of cb aside for me to use as a clothing allowance, as if I had started work instead of going to college she wouldn't have got it at all. Before this she used to pay for all my clothes so it helped me learn budgeting.

modgit

mspig wrote: »

I certainly didn't get any of my mums child benefit directly( we didn't get pocket money) and she never saved an account for us, did anyones mum give them the child benefit money directly???

Yes I got mine - when I got married!! It paid for some of the wedding and for a new kitchen in our first home, oh and for a school cruise when I was 13.

I've got 3 sons and we've saved theirs. To start with when DS1 arrived DH had got excellent job and we didn't need it, now with 3 we could use it sometimes, and I'm sure if it was paid into the current account it would easily disappear into the pot.

We're hoping that it will be a start in seeing them through uni or for school trips etc when secondary school beckons.

Katgoddess

My son's just goes into the pot.

dizzybee

has a single parent i have always tried to save a little from the child benefit each month but if a bill needed paying then i would use it for that i have a friend that uses her child benefit to go out with each week i feel this is totally wrong.my oldest his know at collage and i am glad that i saved a little each week has it has helped with various items he has needed for collage.

Lillibet_2

At the mo ours just goes into the pot as money's been tight for a few years. Better budgeting & a change in jobs means this is easing a tiny bit now, so one of my 2009 new years resolutions is to start putting at least half of it into a pension plan for our son.

HTH;)

plzhelpmesave!

well, big sigh of relief! some interesting replies - I thought everyone esle was saving CB and I was the only one spending it all.

I was working part time for 6 months this year - first proper job since I've had my kids (first in 2002 and 3rd in 2006) so this has been the only regular money I had had in my account since then, along with "sometimes" child tax credit. Hubby pays all bills, house, car and kids expenses etc and then this tends to cover my expenses.

Luckily they're too young for pocket money yet!

Lizalu

claire1234 wrote: »

ooopppss maybe i shoudnt have wrote anything on this thread then,
just my point of view i suppose . . . . yeah ok then maybe though "rose tinted glasses"

You shouldn't have to apologise for posting - you're the only one on here who knows this woman and the situation.
I know that my OH's ex doesn't pay a penny towards the housekeeping / mortgage etc as her husband pays for it all. The kids get no pocket money from her and rarely get new clothes so we buy all that. She gets £250 a month child maintenance and CB.

I think my parents just put our CB into the pot for whatever costs came up.

sarymclary

I'm a single mum of 4. No dad to pay maintenance. I use our CB to keep our heads above water, altho' we seem to only have our eyes above it most of the time! lol I get a very small pension paid by my husband's previous employer that I have paid into a separate account and I try to not touch that and save it for Xmas, although I've had to dip into it to keep the car on the road this year. I did give my sons a monthly allowance until about 6 months ago, but money has got so tight that I can't afford to now, so I pay for all their school trips, and give them the occasional £5 for a day out with friends when I can afford to, plus a £1 here and there for some sweets as a treat. After having just forked out for uniform, 4 pairs of school shoes, football boots, and an office suit/several shirts for my eldest to enter 6th form, frankly CB doesn't come close to covering it, but I'm grateful for the bit of help it does give.

I recall asking my mother if i could have my CB when I was about 15, saying I'd pay for all my clothes, etc., as a friend got her's, but my mother refused. I can understand how at the time my parent's probably relied on that money to pay bills, and I never went without, so may have been worse off if she'd have allowed it to happen. As it was I got a p/t job to earn my own pocket money, which is something my 2 eldest are now doing.