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

JosephK

If one agrees to share and then the other one wins big and doesn't agree? 

Butterfly13

I have 3 sons and thought about this exact dilemma so the bonds are in my name. 

It is your money really and they are children so treat them equally.

tombhoy327

What I would do in your position is not what you should do. This is a call you have to make. I do like the previous suggestion about asking your children what they would do if/when money was won. One consideration is how far do you go? Will a £25 win be split? What if one child is luckier than the other and wins more smaller amounts than the other? You may consider stopping buying for the child who has won a substantial amount and increase the bonds bought for the unlucky one to help even out this disparity in savings.

Ed264

Premium Bonds are a chancy affair. Who knows - the other child may win a bigger sum next month. Just keep everything simple and allow what may happen in the future.

SStitanic

No, you bought them in the name of each child so it belongs to them only they should get to decide if they share It. Premium bonds are a gamble And it’s the r Risk you take that one me May pay off more

Tasha15

You should make that decision before you are in this situation, if either wins a larger amount then it will be shared or not, don 't wait until it happens ....

primrose_penguin

Premium Bonds are a bit like a lottery, so at the beginning I would have made some rules to keep up until they are 18, and that is whatever they win up to £100 goes into the individual childs savings, but any larger amounts get split between them, hopefully by the time they are 18 they will have a more equal amount of savings each, they can then decide what they want to do. You obviously bought them with the intention that their initial bonds would make them some money, but that is the risk, it is a bit hard on the child who received the bonds that didn't pay out. Like someone else, I was bought 4 premium bonds by my parents many years ago and I have never received a penny from them, that was when you could buy them singly.

Hoenir

"with both children winning small prizes most months"

Has the distribution so far between them been equitable ? 

With the odds at 22,000 to 1 of winning any prize. Must have a significant sum saved for each of them. 

Mark_d

Butterfly13 said:

I have 3 sons and thought about this exact dilemma so the bonds are in my name. 

It is your money really and they are children so treat them equally.

Not quite! The premium bonds were gifts to each child.  Child A's premium bonds and the associated prizes belong to him/her.  Anything you do with Child A's money must be in his/her best interest.

Tiredofworking

No
It's a life lesson.
Sometimes no matter how much you deserve something as much or maybe more than a peer, they get it and you don't, that's life, it isn't fair.
If the child who didn't win learns this at an early age they will be far the wealthier for it