What do you do with your child benefit?

rainbowrisin

doodah wrote:

wow i'm impressed, i thought this thread would be like the one about using the kid's christmas money to pay bills..... a slanging match!

when i have kids i'm hoping to be able to have a savings account for them. if i'm in a good enough position financially i'd like to put the child benefit in that account. if not... i think i'd use it on bills etc. as a lot of that would be going on the children anyway

Naaa - we're a civilised set of posters on this thread!:D

Afahmaep

Go to this web page for the Coventry Building Society. They have an account SPECIFICALLY designed for parents in receipt of Child Benefit paying an amazing 7.25% for the first year.
http://www.coventrybuildingsociety.co.uk/savings/Family1st.aspx
Even after the first year the Family 1st Saver Account pays 5.60% which will beat ANY current account in the High Street.

Afahmaep

Afahmaep wrote:

Go to this web page for the Coventry Building Society. They have an account SPECIFICALLY designed for parents in receipt of Child Benefit paying an amazing 7.25% for the first year.
http://www.coventrybuildingsociety.co.uk/savings/Family1st.aspx
Even after the first year the Family 1st Saver Account pays 5.60% which will beat ANY current account in the High Street.

And while you're at it open INTRO accounts for any child aged between 11-17. If you deposit the minimum £20, a Virgin voucher will be sent out within 30 days which was to the value of £15.00 back in July but this offer could be pulled at any time.

System

Dont know really, we haven't started receiving it yet - although we have applied for it. Am gonna create another account for it so it can be used for the babby. BTW Mrs Sparkle have you looked at tax credits?

Lenny

mintymoneysaver

Ours goes into the pot, but out of that pot £25 each goes into a savings accout for them, so I suppose its swings and roundabouts...

skintas_2

yeah same as helps towards bills, do have a axa saving plan off 330 a month for 15 years so been saving it 7 years now....

helps with school dinners and bills............

joanne0620

At the moment the Child Benefit goes in the pot, but when I go back to work in March it will be paid into CTF, tax credit will still go in the pot though

Spendless

Mine along with the tax credit money goes into a seperate savings account. I let it build up and it pays for things like family holiday, school uniforms, swimming lessons (eg all the extras). Earlier this year it paid for DDs nursery fees as I returned to college. More recently it provided the spending money for a short family break and xmas pressies.

We have some cc debt, so next year this money will be used to pay that off.

Mrs_Sparkle

lennymfo wrote:

Dont know really, we haven't started receiving it yet - although we have applied for it. Am gonna create another account for it so it can be used for the babby. BTW Mrs Sparkle have you looked at tax credits?

Lenny

Hi Lenny, we won't be entitled to tax credits as we earn too much.

How's your baby son doing? Is it how you imagined?

jembie

I use it to do the big monthly shop (at Iceland usually) and we have a little treat too like a take away for tea or a visit to McDonalds etc...
I also use it to pay my hamper with but the kids eat most of that food at Chrostmas anyway