Only freedom will do

smallholdingsister

Wowee. Has Miss J chosen her bedroom decor yet?

edinburgher

She has a style in mind

RhiSky

Hello all. Just to add - my dd was 10 months last Christmas and we asked for money from all her relatives (who asked) and put it in her account (that contained money that was given when she was born and the odd pound coin from strangers.. must be a Welsh thing too!). Same applied for her first birthday although we bought her a present for that. Any money we save for her goes into an account in our name though, just in case. When I opened our dds account, the cashier in the bank said she regretted the fact that she blew all the money her parents had saved for her on a luxury holiday with the girls aged 18! Made me think. And the cb goes into our account but we have, so far, managed to save at least that for dd.

Best of luck for the move! So exciting!

choccielover

I have DD's CB paid into a separate account entirely, along with a regular deposit from my parents and any cash she gets given, but were we not in a position to do this I wouldn't think twice about spending it on life's essentials.

Though....as I am a high rate tax payer come January I have to pay all the CB back, but I pay it all back from my personal savings and don't touch hers, it's just a mechanism of me making savings in her name and delaying payment for doing so in a way
The account the money is held in however is in my name, I deliberately didn't set up a junior Isa or whatever as I didn't want her having control of what will be circa £20-25k at 17!!!!

I don't do spending money yet, she's only a littly:), but will once she can do chores to earn it and also learn the value of money.

Kids eh, bloomin expensive little blighters aren't they

Secret_Saving_Squirrel

My sons are late twenties early thirties and only now have they become really sensible with money. Giving them money at 18 was really just taking a slightly longer route to just flushing it straight down the loo.
And to be honest, I wasn't much better at that age. I really think any savings for young people should be kept out of their clutches for as long as possible!
Although young Ms Ed will undoubtedly be far more sensible.......

smallholdingsister

RhiSky wrote: »

Hello all. Just to add - my dd was 10 months last Christmas and we asked for money from all her relatives (who asked) and put it in her account (that contained money that was given when she was born and the odd pound coin from strangers.. must be a Welsh thing too!). Same applied for her first birthday although we bought her a present for that. Any money we save for her goes into an account in our name though, just in case. When I opened our dds account, the cashier in the bank said she regretted the fact that she blew all the money her parents had saved for her on a luxury holiday with the girls aged 18! Made me think. And the cb goes into our account but we have, so far, managed to save at least that for dd.

Best of luck for the move! So exciting!

Its not a Welsh thing but an old thing to cross Baby's palm with "silver" and wish him or her to be "Healthy, Wealthy and Wise".

edinburgher

A pound coin does seem to be the modern equivalent. I can think of worse traditions

Secret_Saving_Squirrel

My grandparents used to give me half a crown whenever they saw me. Is this an old North London tradition or were they just lovely?

edinburgher

How much is half a crown in modern money?

Money noos - picked up a £20 P2P loan part at 18.1%

Karmacat

edinburgher wrote: »

How much is half a crown in modern money?

Twelve and a half pence :rotfl::rotfl::rotfl:

When I was little, it was called "half a dollar" - shops in Liverpool had accepted dollars as income within living memory at that time, and that was the exchange rate. Not so now!