Baby Christmas Money - what is it for?

bestpud

ella_ella_ella wrote: »

Hi OP

In my mind all that money is hers and no way could I spend a single penny of it - I won't even borrow £4 out of the piggy for ballet if I have no change

I borrow money from my dd from time to time and see no problem with that tbh.

She always gets it back and if the alternative is driving out of our way to find a cash machine, or paying £2 odd to withdraw money from the one up the road, then I would ask dd to loan me the £4 without a moments hesitation.

Makes sense to me - how is it wrong if they get it back?

tanith

bestpud wrote: »

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.

But the money was given to the child not the parent not for distrubution but for the benefit of the child .. I think its quite wrong to spend a gift of money thats meant for a child. I would ask if there is a savings acc I could pay into in future .

melorablack

Out of interest, what do you all do with your child benefit?

ella_ella_ella

bestpud wrote: »

I borrow money from my dd from time to time and see no problem with that tbh.

She always gets it back and if the alternative is driving out of our way to find a cash machine, or paying £2 odd to withdraw money from the one up the road, then I would ask dd to loan me the £4 without a moments hesitation.

Makes sense to me - how is it wrong if they get it back?

Maybe it's because I had no money when I was growing up and never had a nestegg that I'm determined to save for my daughter. If she was a little bit older then I might prehaps ask to borrow the £4 but I would never pocket it or use it without paying it back no matter how desperate I was.

I have three cousins who all only care about themselves, one in particular asks for money instead of presents. She wouldnt think twice about selling the childs toys and spending the childs money on useless stuff for herself like Sky or a massive TV, gets me really mad it does :mad:

Oldernotwiser

bestpud wrote: »

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.

Suppose the parents spent it on clothes for themselves - would that be ok?

inkie

Out of interest, what do you all do with your child benefit?

Child benefit in our house is used to fund school trips and music lessons. I have it paid into a seperate account so that it doesn't get swallowed up into general household running costs.

JodyBPM

melorablack wrote: »

Out of interest, what do you all do with your child benefit?

How is that relevant? Presents are gifts given to the CHILD to benefit the CHILD, where as child benefit is a benefit given to the PARENT in recognition of the additional day to day costs of raising children. In essence, money from gifts is the CHILD's money, child benefit is the PARENTS' money.

Our child benefit money goes into our joint account, and is used to pay towards dancing lessons, swimming lessons, school trips, and other such expenditure to benefit the children.

melorablack

ella_ella_ella wrote: »

Maybe it's because I had no money when I was growing up and never had a nestegg that I'm determined to save for my daughter. If she was a little bit older then I might prehaps ask to borrow the £4 but I would never pocket it or use it without paying it back no matter how desperate I was.

I have three cousins who all only care about themselves, one in particular asks for money instead of presents. She wouldnt think twice about selling the childs toys and spending the childs money on useless stuff for herself like Sky or a massive TV, gets me really mad it does :mad:

You see, I was the same, growing up I even had to give my mum the £1 a week pocket money I got from my grandad because she was so skint and sometimes (most of the time actually ) it would really make me mad.

That's why I have made sure that my ds has money going into a savings account each month so I completely understand where you are coming from there. The money in his savings is his completely, but if it were an emergency then I have to say that I would rather lose 7 per cent interest on his savings until the money can be put back in than pay 20 percent by putting it on a credit card.

katieclampet

When my children were young (about 25 odd years ago) we were very poor. I had enough to pay the rent, pay our bills, have food and clothes, JUST. No luxuries, and no savings. When they got money for presents, I quite often used it for something not specifically child related. My children never went without, (although I often did). I dont think spending money (given to me for them) for the benefit of our family made me a bad parent.

Now my children are grown up. and they are struggling to bring up their families, I have been able to help them out financially. I also supported them through further education and career training. If I give money for a child, then as long as it is used for the benefit of the child, then I am happy.

Just my point of view, and I am sure lots of people will disagree!

katie

mrbrightside842

If I gave money to a baby, I wouldn't mind what it was spent on, as long as it was for the baby. I'd rather the mum put it towards something the baby needed then, than it sit in an account for 18 years and be blown on a night on the lash. It's nice to imagine it would go towards a car or uni or a house deposit etc, but when the kid hits 18 it may go on drink or rubbish. Fair enough, it's their money and they get to do with it as they'd like, but I'd rather it went on something useful for the child at that time.