Saving for your children

Kazipoo

All my girls have savings accounts which I used to pay their pocket money into. They spend it on things like presents for friends at Christmas. They haven't had pocket money for ages now because they have to work for it, and they are typical teenagers and can't be bothered lol. But this year they have noticed they only have a few quid left in their savings accounts, so in order for me to give them money for friends presents, they will have to do jobs!!

Silaqui

My mum and dad saved for me and my sister into our own savings accounts, the kind with the book? But it wasn't something we ever really gained access to to use willy-nilly, my mum used the keep the savings book and the details where we couldn't access them, but they did tell us we had the savings. So when I was 17 I used some of them for driving lessons, a bit later on when I left uni I took the remaining £400 odd quid and spent it on furniture for my flat.

If you are saving specifically for uni or something similar, one of my uni friend's parents had an account set up for her which they paid monthly into her account, kind of like a salary, for the whole 3 years she was there. She got about £150 a month from it so it was a nice top up and it also meant she couldn't blow it all at once!

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