Baby Christmas Money - what is it for?

melorablack

If he hadn't been given the money at Christmas then we would have had to ask the people who gave it to him (grandparents) to lend us the money to get the car fixed. It's all very well saying it shouldn't be spent on other things and in an ideal world I agree but I also don't see the point in getting into debt and paying interest on things when the money is right there. The car is essential for dh to get to work, to get to the shops etc a couple of hundred in a savings account can wait and it's sods law that it blew up when it did. It's not like we're spending it on booze, fags and drugs !!!!!!. I could understand how disgusted everyone seems to be with me if we were.

What if the person you gave the money to was in the position some of the people on the debt free wannabe boards are in? Would you expect them to sit there with all that money in their children's savings accounts while they struggled to keep a roof over their heads?

Ds does have money put into a savings account each month and we are definately not in financial difficulty but while I'm on mat leave dh and I don't have the luxury of saving for ourselves, once we are then of course we will put the money into ds's account.

I'm just pointing out that sometimes people may need to spend the money on other things and if it bothers the present giver that much then don't give cash.

bestpud

I put it in their savings accounts but I wouldn't expect the giver to moan about what I did with it so long as it was spent on the child tbh.

If you are that worried, give a gift instead. Otherwise, once it's handed over, it's no longer yours to question imo.

I've never needed to raid their accounts, thank goodness, but I would if the alternative was them going cold or hungry.

I would also use money given to them for a highchair if they needed it, because I assume people give money to young children so it can be used for something useful.

If it is specifically for a savings account, then either give a cheque or clearly state why you have given the money. If the parents decide to ignore your wishes, then don't give money again.

JodyBPM

I must say that I would expect money given to a baby to go in their savings accounts for the future, or if spent to be spent on something they would enjoy such as toys, not essentials, as the parents would be paying for those anyway. If the baby's money goes straight into the parents' pockets, then it is a gift for the parent, not the child, surely?

Anything given to DD and DS has gone straight into their CTF accounts, which neither we nor they can touch til they are 18.

I can totally understand when the parents really are completely broke, to borrow money to pay for essentials (eg the car being fixed as given as an example above) but I would expect it to be paid back in full! I'm suprised the parents didn't ask for money for christmas in that example though, so they could pay for it out of their own money, rather than depriving their child of toys or savings!

I don't give money to children or babies anyway, because it would cheese me off if I found out the parents had pocketed it. I always buy something I know the baby or child would love, but the parents sometimes won't buy - messy finger paints, bath paints, loud toys etc. The parents must hate my presents, but to me its all about what the children would enjoy!

Luciferswench

I dont like my children to receive money as a gift, i prefer toys, clothes etc. I rarely give money as a gift however when i do i dont care how they spend it, it is a gift after all and gifts shouldnt come with conditions once you have given something you have no say in how it is used full stop.
However if you want a say in how its used give vouchers for a particular shop or buy said gift yourself. Why shouldnt money gifted to a baby be used to by baby equipment to make babies life more comfortable rather than it sit in a savers account whilst baby needs a stroller/highchair etc. Its nice to build a nest egg but not all parents open savings accounts for their children so it would only sit in a money box in some cases not doing anything productive.
I wouldnt want to receive a gift off anyone who wanted a hand in on how i used it, thats not a gift imo more interferance with an excuse for doing so.

seafarers_wife

i would say its for whatever the parents want to use it for as long as it benefits baby i give money to friends since i dont live nearby and dont know what toys baby has or what clothes baby has so money is given instead and if its used towards a big cost item or put in the bank fine i dont care.

the only time i get annoyed with it being put in the bank is with my nephews mum. I have a savings account in my name for him so i dont like it when ive given her money in the past and its gone straight into his bank account as she is on a very low income and the money isnt for nephews savings and is given to help towards the general household costs and she is told this but still puts it in his bank.

kegg_2

It is all very well saying once a gift has been given then the giver cannot put conditions on what it is used for but the money was given to the child/baby. They cant make a choice what to do with it until they are older so it should be put in their savings not used to pad out the family budget.

kegg_2

seafarers_wife wrote: »

i

the only time i get annoyed with it being put in the bank is with my nephews mum. I have a savings account in my name for him so i dont like it when ive given her money in the past and its gone straight into his bank account as she is on a very low income and the money isnt for nephews savings and is given to help towards the general household costs and she is told this but still puts it in his bank.

but that is her choice, you have given it to her not as a present for the child and even though she is on a low income she has chosen to save it for the child. Maybe even though she is on a low income she has her outgoings covered and wants to put money aside for furture costs like first car, driving lessons or evn uni.

julie2710

Personally I have always put money given to my DSs into savings accounts. I can't afford to put money into an account for them so at least this way they will have something for when they are older.

I don't think it matters what happens to the money though as long as the child is the benefactor. I don't think I would feel comfortable spending it on car repairs etc. but if they needed clothes or shoes and I didn't have the money I might use it for that.

If I give money to children I tend to give it in voucher form rather than cash. Book vouchers etc that way they will hopefully get the pleasure of picking something for themselves.

ella_ella_ella

Hi OP

All money given to my little girl goes into her building soceity account for her future. If I gave money I would expect it to be either saved or spent on a proper present.

If somebody gave me £10 as a present and said 'buy her something' I would buy her a toy or something she wanted but never anything like clothes or essentials because I buy her those things myself and it's hardly a treat is it!

We put loose change and pocket money into her piggy which she can then use to buy something once it's full with the rest going into the building soceity.

In my mind all that money is hers and no way could I spend a single penny of it

bestpud

kegg wrote: »

It is all very well saying once a gift has been given then the giver cannot put conditions on what it is used for but the money was given to the child/baby. They cant make a choice what to do with it until they are older so it should be put in their savings not used to pad out the family budget.

The giver has no rights to that money once they hand it over.

They are, in effect, giving money to the parent to distribute as they see fit.