Money Moral Dilemma: Should I save up child benefit to give to my children when they're older?
This week's MoneySaver who wants advice asks...
I have two children - aged one and four - and receive child benefit for both, totalling about £140 a month. I've been using it for their general living expenses, such as clothes, clubs and so on, but I've started to wonder if it's their money to decide what to do with. Should I be putting it in a savings account each month until they're old enough to decide, or is it OK to continue spending it on them as I have been?
Unfortunately the MSE team can't answer Money Moral Dilemma questions as contributions are emailed in or suggested in person. They are intended to be a point of debate and discussed at face value. Remember that behind each dilemma there is a real person so, as the forum rules say, please keep it kind and keep it clean.
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