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What do you do with your child benefit?
iwannanicerlife
Posts: 205 Forumite
Just curious as sorting finances out - do you pay it into a separate account? A savings account? Or just into the household "pot"?
Ours currently go into the pot but I'm thinking about paying it into a separate account so I can keep a bit more of an eye on it.
What works for you please?
Ours currently go into the pot but I'm thinking about paying it into a separate account so I can keep a bit more of an eye on it.
What works for you please?
0
Comments
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Mine just goes into 'the pot'.0
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They go into a join bank account.. and then the tax man takes 1/2 of them back!0
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I top it up to £100 and pay it into my daughter's regular saver.Trying to be a man is a waste of a woman0
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It gets paid into my bank account every 4 weeks and then, at some point between April and the end of January, I fill out my husband's tax return for him and transfer the whole annual amount back to HM Revenue and Customs.
Thank you 'Dave'0 -
It either gets put in savings or just gets mixed in to monthly spends depending on outgoings that month.0
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It gets used for what it's meant to be for, household expenses, groceries, nappies, kids clothes. If I could afford to save it I wouldn't need it.finally tea total but in still in (more) debt (Oct 25 CC £1800, loan £6453, mortgage £59,924/158,000)0
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It went into a seperate account which was then used any time extra 'big spends' was needed, eg school uniform, trips etc.
Since the change in the rules regarding child benefit, because we have to add on benefits in kind to husband's salary, he had to also register for self cert and then get so much taken back via his tax code. I continued to claim as I had an ad-hoc job due to redundancy followed by helping out an elderly and ill family member so wasn't earning enough to pay NI every week.
Next month my youngest is 12, so getting a NI credit won't apply anymore and we need to do the figures to see if it is still worth claiming or not.0 -
Goes into child's account (which I presently control), & is transferred into the house account in weekly slices.thriftylass wrote: »If I could afford to save it I wouldn't need it.
Exactly!0 -
I just add it in with all other income and it gets spent on bills, groceries etc.Pink Sproglettes born 2008 and 2010
Mortgages (End 2017) - £180,235.03
(End 2021) - £131,215.25 DID IT!!!
(End 2022) - Target £116,213.810 -
£50 goes into sons account and the other £32 is spent on activities, uniform, clothes etc x:j:jOur gorgeous baby boy born 2nd May 2011 - 12 days overdue!!:j:j0
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