What do you do with your child benefit?

peachyprice

It goes towards by daughters ballet lessons, shoes, costumes, pointe shoes etc., needless to say it doesn't go far, but it certainly helps.

LandyAndy

It just went straight into the 'pot'.


If I'd saved it, it would have made quite a dent in the support we now give the DSs at university.

Oakie

When my eldest was born over 25 years ago,someone advised me to keep my child benefit separate from my bank account,and collect it in cash from the post office.That way the money wouldn't get sucked up in the overdraft and I would have the cash to feed the kids. I'm glad to say that only once in my life have I gone overdrawn ,but it sounded like good advice,so I kept to it even when it became complusary to have it paid into an account,I just had it paid into a simple PO a/c separate from my main bank a/c.
At first I found the money covered for nappies and formula. Then I saved for birthdays and xmas. When university tutorial fees were introduced I decided to save towards uni expenses. So when my 25 year old was at uni I was able to give her a 'top up' on her maintenance grant and so then she could afford to feed herself.

HappyMJ

I transfer it to my daughters account and she uses it for mobile phone, clothes, toiletries. whatever she wants, cinema trips, days out without us, transport, etc... My partner still gives her a little extra as it isn't enough. We use the child tax credit for school uniform, a share of the groceries, electricity, gas and broadband. We use our own personal income for the remainder of the household bills and council tax, our alcohol, going out with each other (1 day a week) or mates (1 day a week), etc....and the loan repayments and mortgage.

74jax

Mine goes to my DD as pocket money for her to spend as she wishes.

themull1

Gin and Cigarettes.

lady1964

When my DD's were little and it was paid in cash at the Post Office, I used to keep,it in a separate section of my purse & it paid for their shoes, school uniforms & clothes, it didn't cover everything because I have 3 DD's but it was a help. Once each one turned 16, I transferred 'their' amount into their bank accounts to pay for their travel costs to college/6th form and they used any surplus for personal outgoings. It taught them budgeting skills and gave them a good understanding of how much things cost.

missindecisive

Mine goes straight into the pot. It gets spent on food, utilities, and things they need like clothing, shoes, uniform etc. Wish it was just ' spare' money and it could be saved in their accounts for a rainy day but in our family the money is needed just to help pay the necessities.

iwannanicerlife

Thank you for all your comments. I can't afford to save ours these days (although I did when the kids were younger), its more about maybe putting it to one side so there is always money there if I need it for the big stuff - shoes, uniform, school trips, rather than being swallowed up with the other spends.....

pinkjets

Has always had to go in to the household but if I was in a position to save it every month I would love to put it into a savings account for my son when he is older.