Best place to put child benefit

jinkssick

$17mma wrote: »

...or do what ever she wants to with it when the time comes.

ummmm thats one dangerous move. Saving hard for her/his nights out, shopping experiences, alcohol or drugs is not the way I would invision a future but one with a good foundation of money to get a career pay a deposit for a home.

Murphy_The_Cat

jinkssick wrote: »

ummmm thats one dangerous move. Saving hard for her/his nights out, shopping experiences, alcohol or drugs is not the way I would invision a future but one with a good foundation of money to get a career pay a deposit for a home.

which is exactly why I wouldn't add a 1p of my own money to a CTF.

$17mma

jinkssick wrote: »

ummmm thats one dangerous move. Saving hard for her/his nights out, shopping experiences, alcohol or drugs is not the way I would invision a future but one with a good foundation of money to get a career pay a deposit for a home.

That's exactly what I hope the money will be spent on, dont know where the drugs etc came into it!?

$17mma

Murphy_The_Cat wrote: »

which is exactly why I wouldn't add a 1p of my own money to a CTF.

Thought child benefit was (their) money?

Murphy_The_Cat

$17mma wrote: »

Thought child benefit was (their) money?

Not legally - its a non means tested benefit that is paid to a childs parent/guardian, who is free to spend it how they wish.
If you choose to put it into a CTF, upon the childs 18th birthday, it will be that new adult, who is free to spend it how they wish.

Which I think is a completely carp idea, but you, on the other hand, may think is a wonderful idea.

Such things make the world go around and make MSE such a wonderful place :beer:

$17mma

Murphy_The_Cat wrote: »

Not legally - its a non means tested benefit that is paid to a childs parent/guardian, who is free to spend it how they wish.
If you choose to put it into a CTF, upon the childs 18th birthday, it will be that new adult, who is free to spend it how they wish.

Which I think is a completely carp idea, but you, on the other hand, may think is a wonderful idea.

Such things make the world go around and make MSE such a wonderful place :beer:

Ahh, I always viewed it as their money , off to the pub I go then hahahahah :rotfl: JOKE!..

lordgaino

Maybe what i will do is top up the CTF with a further £250 at day 1 and then never touch it again.

i will probably put the child benefit into something else then.

bootman

I have paid my sons into an account since day 1. I did have to borrow some a few years back but I think the amount is up to around £8k now.

I hope when he is older it will go towards fees, car but at least it is something.