Kiddiwinkles Savings should i use them??

gonzo127

vgstar silly question, have you done a detailed and accurate SOA and posted it up here, if not can i suggest you do it, as then we can look it over with you and try and suggest any areas which you could make savings?

might also help if you did a join one for you and hubbie and one just you as it 'might' be possible depending on how you work your finances that if we can save your hubbie some money he could put some towards your kitty to allow you to pay ofyour debt quicker?

anyways link is here

http://www.makesenseofcards.com/soacalc.html

and i have personally had to dip into the kids savings once or twice ok never much only £50-100 usually and i always pay it back + a little interest, they know we have had to do it and do not mind so long as it is paid back, and to be honest from their point of view if they cant trust their parents who can they trust? - just remember this also works the other way that if you do not pay it back why should they trust you in future?

lizzie_b

wuckfit wrote: »

How do you know that the savings are not gifts of money for birthdays and christmasses from relatives?

Personally I think dipping into the childrens' savings accounts is technically theft or embezzlement.
It will start off as a few quid here and there, with every intention of repaying, and before you know it, the accounts will be empty as well, and there will be no chance of repayment. And someone will have to explain to the kids where their savings has gone when they want a new computer game and the account is empty.
Don't Do It.

If you read the original post it states that some is gifts and some is what the parents have put away for the children.

At 2 years old I dont think the child is going to be wanting a new computer game any time soon do you.

Get down off your soapbox!!

lizzie_b

carpedieme wrote: »

perhaps you should do some overtime instead of robbing the childrens savings accounts otherwise manage your finances better!!

Oh yes...overtime is the answer, to pay someone else to look after the children. Its hardly robbing them...would you not want to help your parents out if they had a problem??

Get a grip!!!

DarkConvict

Hi,

I've seen someone on here who was looking after their fathers savings, grand total of £150,000. His business had trouble so borrowed from it, bit by bit it was all gone and the business had to be sold. It just shows how borrowing can start small and escalate.
If the 7 year old knows about their money then i would be good and ask first, at that age I knew about it already (somehow).

Its not totally wrong, its an interest free loan.

The big question though, if you are in debt now, do you think £1500 is going to solve your problem or are in 1-2 years are you going to go back in the red again. When your in debt once you need to look at the big picture, post an soa of your income/outgoing (see sticky) and lets see where you are lossing money.

andys15

wuckfit wrote: »

How do you know that the savings are not gifts of money for birthdays and christmasses from relatives?

Personally I think dipping into the childrens' savings accounts is technically theft or embezzlement.
It will start off as a few quid here and there, with every intention of repaying, and before you know it, the accounts will be empty as well, and there will be no chance of repayment. And someone will have to explain to the kids where their savings has gone when they want a new computer game and the account is empty.
Don't Do It.

Theft, embezzlement. Are you for real?

Ok in YOUR world, if I was to be accused of that, for taking the kids savings, I would start charging the kids rent, and for meals, and if they cant afford to pay for there share of the holiday, then tough. The £1600 pound they have in savings will soon run out- within a few months. When the kids savings run out, I will serve them with eviction notices and they will starve---sounds ridiculous doesn't it, no more ridiculous than you accusing the parents of theft and embezzlement.

wuckfit

lizzie_b wrote: »

If you read the original post it states that some is gifts and some is what the parents have put away for the children.

At 2 years old I dont think the child is going to be wanting a new computer game any time soon do you.

Get down off your soapbox!!

If you'd read the original post then you'd know that there are two children. The 7 year old might want a new computer game soon.

I'm not on any soapbox. I'm just stating my opinion that I think dipping into childrens' accounts by a parent or guardian is morally reprehensible, not to mention technically theft. Parents/Guardians are in a position of trust. How can it be right to abuse that trust in this way ?
If you disagree, that's fine. However I wonder how many of you who think it's ok to steal from childrens' accounts could look them in the tearful eye when they discover that they can't buy a new XBox they'd been looking for cos all the money is missing?

lizzie_b

Well said Dark Convict.

If you have addressed the big picture and can strongly say you wont be in this position again...as have many on these forums...then by all means get yourself solvent and start the work on building a better future for your children where mummy and daddy are not stressed over their debt and can provide an altogether happier environment.

wuckfit

andys15 wrote: »

Theft, embezzlement. Are you for real?

Ok in YOUR world, if I was to be accused of that, for taking the kids savings, I would start charging the kids rent, and for meals, and if they cant afford to pay for there share of the holiday, then tough. The £1600 pound they have in savings will soon run out- within a few months. When the kids savings run out, I will serve them with eviction notices and they will starve---sounds ridiculous doesn't it, no more ridiculous than you accusing the parents of theft and embezzlement.

Ah yes. in your world, children are responsible for their own welfare and finances. Whereas in mine parents have a legal obligation to feed and clothe and house their children. And that's ridculous is it?
Taking money from childens' accounts is theft. IMO. it's an abuse of trust at the very least.

lizzie_b

wuckfit wrote: »

If you'd read the original post then you'd know that there are two children. The 7 year old might want a new computer game soon.

I'm not on any soapbox. I'm just stating my opinion that I think dipping into childrens' accounts by a parent or guardian is morally reprehensible, not to mention technically theft. Parents/Guardians are in a position of trust. How can it be right to abuse that trust in this way ?
If you disagree, that's fine. However I wonder how many of you who think it's ok to steal from childrens' accounts could look them in the tearful eye when they discover that they can't buy a new XBox they'd been looking for cos all the money is missing?

The 7 year old is at an age where the situation can be discussed with them, I would certainly have been quite happy to go without a new game at that age if my parents needed the money for something that is going to be of more benefit to me in the long run. And I think most children would do the same.

lizzie_b

wuckfit wrote: »

Ah yes. in your world, children are responsible for their own welfare and finances. Whereas in mine parents have a legal obligation to feed and clothe and house their children. And that's ridculous is it?
Taking money from childens' accounts is theft. IMO. it's an abuse of trust at the very least.

So did feeding clothing and housing the children not contribute to the debt the parents are in?? Therefore the children are helping to provide for the family, and at the very least the 7 year old will begin to learn a very valuable lesson on the value of money.