Money Moral Dilemma: Should we buy Premium Bonds for the children in our families this Christmas?

honestcove

A sensible, practical, caring, forward thinking, educational / instructive idea that the kids might thank you for in the future but as a “gift” now will unlikely put the smile on anyone’s face.

ginger_chocolate

Some of the people on here seem to be unaware that Premium Bonds can be cashed in easily, and many children love having some savings.

So why not just pay money into an ISA for them?

sheramber

Are you aware of the need to involve the parents in the purchase of Premium Bonds for a child under 16?

https://www.nsandi.com/get-to-know-us/nsandyou/gift

eao

We , my wife and I, give grandchildren Christmas and birthday presents in 2 segments;  she can choose very appropriate objects whereas I give them a voucher, of the universal type ie cash which, for younger children goes via their parents into their savings accounts.  For older children I fall back on a quotation, in a different context, from the film star Mae West;  I say that a gift should be, useful, portable and exciting and the quote, "Two out of three's not bad".  They do appreciate this although I have inculcated, I hope, into their DNA that with any cash gift they should save at least half of it and they can spend the rest.
I did, on one occasion, buy Premium Bonds.  They were too young to understand and will only find out a few years hence unless Ernie suddenly coughs up a prize.

anotheruser

MSE_Kelvin said:

However, we're not sure whether that would be appreciated by the children or their parents.

Appreciated by the children?  No.
Appreciated by the parents?  I suspect most of those under 35/40 won't know what premium bonds are.

Giving money is still a little taboo (wrong word, can't think of the right one) as it's saying "you're worth £10".
Vouchers are always risky these days.

A gift is a little more thoughtful, shows you've made some effort.

anotheruser

CapeTown said:

Marcon said:

... possibly something like an amaryllis bulb - fast growing, spectacular and the parents will like it as much as the children.

An amaryllis bulb. What planet are you on. What child has ever said ooh I really want a bulb for my Christmas present!

A bit rude!

Perhaps the kids like gardening / plants and the outdoors.  Or perhaps the suggestion will inspire others to think more outdoors, especially as we're in a time of people wanting more outdoor space.
Mine would spend all day outside if I let them.

Will.Power_2

I buy my grandchildren book tokens for Christmas and Premium Bonds for birthdays.
They get plenty of plastic from other people

Ian_WM

My Uncle gave me £3 of premiums bonds as a christening gift back in 1971 and I still have them.  I have had a couple of very small wins from them over the years (a couple of £25's).  My Uncle passed away in 1992 but whenever I think of Premium Bonds I always think of him so they can be a good gift which is still appreciated many years later just for the memories they bring.  

CapricornLass

Another vote for books.  Sound out the parents, to make sure that you aren't buying them something they've already got - one year we got given a copy of Heidi by 4 different people. For slightly older children, think of classics - not just things like Alice in Wonderland or Wind in the Willows, but things like the Lion, the Witch and The Wardrobe,  Swallows and Amazon or Stig of The Dump. Road Dahl is good too I still re-read my copy of the Narnia (paperback) books which I received when I was 12 - and I'm 64 now.  Or a really good anthology of poetry. The (hardback) poetry book I received at 11 is still on my bookshelves, and I still dip into it from time to time.

behelpful

They might have to wait too long for their premium bond to come up to appreciate it.

I received one at birth, am now past retirement, and have never won.

Is this a record?