Saving for your children

atush

I get that 'warm glow' every time an assignment/essay/exam brings a First or a 2.1 lol.

jabba42

xylophone wrote: »

It can be tax efficient to "give with warm hands" as they say.

Apart from that, there's the warm glow of pleasure when you see your child benefiting from the gift?

I do all I can to keep my wealth safe from the legal bodies that sanction confiscation, I am not in the UK anymore and have not been for sometime. My parents unfortunately are for financial matters and are worth approx 2 mil.

They have done no tax planning at all, their choice but I have told them it is better to leave it to us than the scumbag state. Never realized they were such patriots

vacheron

I decided to put away all of the child benefit we received for our son (£81.20/month) into a savings account for his future.

The junior ISAs are an awful idea on many levels in my opinion so it is currently sitting in a savings account in my name for now.

As it will probably be used for his university, my plan is to move it into some kind of index tracker ISA for the long term but in mine or my wife's name, not his!

atush

The junior ISAs are an awful idea on many levels in my opinion so it is currently sitting in a savings account in my name for now.

Not so awful you'd leave it in cash somewhere withering on t \he vine when the last year has been so good.

As it will probably be used for his university, my plan is to move it into some kind of index tracker ISA for the long term but in mine or my wife's name, not his!

Ok, at least you've seen the light. but what tracker? And why?

LannieDuck

I'm maxing out a JISA for my daughter every year. Will become more difficult when child 2 comes along, but the grandparents are kindly helping out, so hopefully we can continue it for both children.

Our aim is to build up a pot of money that will cover university fees for them when they get there.

Froggitt

Another vote for the Halifax JISA here. Its their wedding fund. Maxed it out three years in a row now.

atush

Wedding Fund.

That just depresses me, as there are far better things for a girl/woman to aspire to these (or any ) days.

vacheron

atush wrote: »

Wedding Fund.

That just depresses me, as there are far better things for a girl/woman to aspire to these (or any ) days.

You forgot to add "in my humble opinion" And how do you know the child is a girl?

atush

Well, last I checked the parents of the groom don't pay for a wedding.

But neither did my parents, I paid for it with the OH lol.

IMHO doesn't have anything to do with my statement. I know I wasn't raised here (where girlfriends I know were told by the school guidance councillor not to 'worry' about A levels and just go learn to be hairdressers or secretaries etc)- but I was told decades ago girls could do anything they set their mind to.

One of my son's teachers told me he was (in year 5) far too ambitious. I told him at the parent teacher's meeting that perhaps he was too ambitious in becoming a teacher ;-)

I say, save for your kids but don't call it that. Call it University fund, life fund or whatever. A little aspiration isn't a bad thing. Far too little of it about.

jabba42

Yeah do not tell them that they have guaranteed cash, we all need to make our own way in life. Prefer to make them struggle a little to appreciate how hard it I to get stuff.

Not sure about my daughter though, for her I will get her a gym membership to where the rich guys hang out. Might be the best few hundred I ever spend