What do you do with your child benefit?

anon123456

It becomes my wifes spending money.

I'm the only earner so we have the joint account and everything else goes in and out of it. We left her old Lloyds account open for the child benefit only.

Then she knows she has £137.60 (I think ) a month which is her hair/nails and makeup funds etc.. Anything she hasn't spent around October gets used as xmas top-up

AndyBSG

My wife and I both have separate bank accounts and pay a set amount into our joint account each pay day.

The joint account is used for pretty much all household bills and food shopping.

Child Benefit goes into the joint account and is used towards household bills and shopping.

I do keep meaning to set up a savings account for when our daughter goes to University/buys first car/ etc and put it in there but 10 months on I still haven't got round to it!

pineapple123

Used to spend it on the children, days out, hobbies etc but also saved some of it.

Notjustamum_2

silvercar wrote: »

It used to be paid for every child regardless of income as recently as 2012.

Then the rules changed and it was only paid when totally family income was below a certain level. For anyone who earned over that level, there is the option to still claim it, but to repay the amount if earnings prove to be over the limit.

Unfortunate it is not down to "family income". My husband is currently the sole earner in this family but as he is a higher rate taxpayer some of the child benefit is clawed back through his self assessment each year. Our neighbours with a much higher family income but split between two earners still get to keep all their child benefit.

Jagraf

Notjustamum wrote: »

Unfortunate it is not down to "family income". My husband is currently the sole earner in this family but as he is a higher rate taxpayer some of the child benefit is clawed back through his self assessment each year. Our neighbours with a much higher family income but split between two earners still get to keep all their child benefit.

Well I don't receive it because my husband (daughters STEP father) earns too much. Not sure how that makes sense :eek:

looby1975

It mostly goes in the family pot, but if my son needs anything in particular it usually gets bought around the time that the CB goes into my account (unless it's something he needs urgently)

He's almost 15 now so I have to buy him new school shirts every couple of months so thats the main thing that is bought out of CB.

MallyGirl

lush_walrus wrote: »

Prior to means testing we just added it to our children's saving accounts.

same here. I still make an equivalent payment to the account even though I don't get the benefit any more. It will be her uni fund

lisa110rry

heuchera wrote: »

I spend it on crisps, fags and booze

Very funny!

I used to save up the £5.20 per week I received to buy Start-rite shoes for our son (not that he wouldn't have had the same shoes without child benefit). It was handy as you were never exactly sure when a new pair would be needed and Dad was often away for work in those days. Ah, those were the days. I had no "cheque cashing card" because I bought most things in the village, where everyone knew me. The shoe shop on the other hand was in the town, so I would have to pay cash.

an9i77

I use it to pay my student loan

The government gives... the government takes