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Money Moral Dilemma: Our child won a Premium Bonds prize - should they share it with their sibling?

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  • I think it's an impossible question to answer without knowing the precise ages of the children, as they could be anywhere between tiny infants right up to the age of 18 for all we know. 

    Responsible parents should do what they feel is right and in the best interests of ALL their children. They shouldn't need to be asking what to do for their kids on some social media forum such as this, in my opinion. 
  • From the age of 7 (I’m now 67) I was in charge of my own finances, I had a TSB current account + post office savings account and a post office investment account (paying a whopping 12%). I don’t think either my older or younger brothers saved anything. There’s no point in saving for children unless you involve them in the progress. So the answer to the question is leave the winnings with the child who won them.
  • There will always be those who follow it strictly with money, it’s the same on any financial forum, what’s in your name is yours etc. but for me I couldn’t do this. Why make a future complication of explaining the difference that can be sorted now, they’ll be non the wiser and still very happy with their pot. Withdraw the winnings, split it and re-buy equal number of bonds. Then both now have an even better chance of winning big 
  • Lots of you saying keep it are speaking as adults. Teaching children to share is of great importance so share the prize!
  • You should have sorted it before that all winnings go into a joint account to be shared at a set time.   My siblings and I agreed to share our winnings and in and in all the (many) years we had them 2 of the 3 of us won - a grand total of £75 which we shared equally.  
  • Sea_Shell
    Sea_Shell Posts: 10,030 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Assuming they are old enough to understand...

    It's a life lesson to learn.  Some people have better luck than others.  Life is not "fair".

    Equal people (siblings) can also have very different life outcomes, depending on decisions made through life... including in  childhood.

    Save or spend any money they get, for instance.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Emerion
    Emerion Posts: 70 Forumite
    Eighth Anniversary 10 Posts Name Dropper
    Matt8888 said:
    This is ridiculous. It's not a moral dilemma. There is no right or wrong. Until they are 18 it is up to you to do what you want with the money you choose to put aside for them. If you want to even things up, do so. If you don't, don't. You can read 1000 responses, but only you know the amount, the circumstances and what you want to do. No decision is morally right or morally wrong.
    Up to 16 with premium bonds. 
  • Yes you can and must split the money equally. I think you know this or you wouldn't be asking the question. We will top up our youngest child's stocks and shares Child Trust Fund to make sure they all, miraculously, ended up with roughly the same amount. Will they ever know? Of course not. You have said the children are not old enough to be responsible, therefore you are the responsible adult and you have to make the decision on their behalf. It's inconceivable that any loving parent would treat their children differently, and you're obviously a loving parent. I imagine that your children would want this to happen anyway, unless you've brought them up to be rapacious, winner takes all capitalists. Ask them? No. They're too young to make adult decisions. Tell them? No. But if you have to, you could first say each of you could have an equal amount or one of you could risk losing it all to the other. Personally, I wouldn't say anything. All this advice on treating children as adults - they're not. It has nothing to do with who's good at saving, who's the prodigal son, or daughter. It is only about whether you treat your children differently. That's why we make decisions for the good of all of them until they're old enough. If they don't like it, tough (but you won't tell them because you love them the same). They can do something else with their own children. Hopefully they won't but until then, you're the parent(s). Do it before they're sixteen, or let the one you love least resent you forever. They'd be right to.
  • No.  Unless there been a long standing agreement to pool winnings. If until now each has kept their own winnings it would be unreasonable to change the "rules" now.
    If they average one win a month they must hold £22,000 bonds and I would question whether this is the best investment for them. A JISA perhaps?
  • This should have been sorted when you bought them  either if one wins it gets shared or whoever wins keeps the money  if they are quiet young just share  let us know how you get on
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