Money Moral Dilemma: Should I ask my daughter to share her Child Trust Fund with her siblings?

rach_k

My oldest received the money from the government in a child trust fund but the scheme finished before my youngest was born, so we opened the nearest equivalent account (a children's ISA I think) with the same company and put the same amount of starting money in there.  We haven't topped it up any further because we'd prefer to give the kids money at certain points, decided by us, rather than handing it all over at 18.  

When the youngest gets her money, if she has less in it than her sister had, we'll top it up.  If she has more, we'll give the older one the extra.  They're only 2 years apart in age but I suppose we'll adjust for inflation!  

If we hadn't been able to match the savings for the youngest, it would just have to be tough.  The £250 is unlikely to grow into a huge fortune anyway so I wouldn't be mean enough to suggest my oldest shared it.  Schemes change all the time for things like student loans or what mortgages are offered - we won't be matching everything else in their lives for them, so at some point you just have to trust that things even out (or we're all on a downward spiral so it makes little difference as life is rubbish anyway?).  

Silvertabby

rach_k makes a good point.

My mother was obsessed with the idea that my sister and I 'must always have the same' even though she was 4 years younger than me.  

We both received 20p per week pocket money, until I got a paper round paying 50p per week.  My mum decided that I no longer needed pocket money 'as I was earning' but her version of 'both must have the same' was to not only give my sister what had been my 20p pocket money, but to top it up to 50p.  So we both had the same.

So my sister lolled in bed while I delivered newspapers.  I have never forgotten that injustice!

Whiterose23

Interesting read and I am in the same position, but I don't think my youngest child should share it at all.

My eldest missed out but knows her younger sibling will receive this and isn't in the slightest bit concerned. She now has her first job and is a generous spirited person. However, I will give her the equivalent when the payment comes to fruition, either in money or a treat of some kind. 

Now my eldest is working, and understands the importance of saving, she very wisely saves around half of her pay each month and has plenty of savings of her own. My other child works on Saturdays and saves around half of his pay each month, so they have an appreciation of money from watching me cope over the years.

I haven't saved for my two either, being a single parent since they were small; I did start but money became tight and I wasn't able to continue. My intention has always been to give them a 'leg-up' as and when they need it, to the best of my ability as and when.