Serious Post about MONEY

TheMysterious1

Ophie wrote: »

nope... post was in response to



that.

lmao talk about finger up @rse. maybe you need to take a chill pill??

Murphy_The_Cat

Ophie wrote: »

I'm not sure Murph, I dunno if that applies to me as I have nothing in the strictest sense at the minute to leave to her. No house or anything like that.

So maybe not but thanks for that link and I shall read it through and see if it applies. Blimey I hadn't realised it was this complicated!!

Perhaps I should go and see someone to help me out - but then it means paying them and I don't have the money to pay them - this account is mainly for grandparents as I can't afford that much, I don't think my contribution per year would go above £1200.

No worries.

It needn't be complicated at all, and if you take the savings route, it is all easy peasy, lemon squeezy.
BUT if you take the plunge into investments, & you're investments perform acceptably well (I'm not talking silly figures) and you invest a consistent amount month in, month out (a lot of funds will let you do a monthly plan for £50pm) , for a long period of time (15-20 years) the pot could become VERY large indeed.
I loathe CTF and I'd never add a penny to them - but investing a regular amount per month via your ISA allowance, hmmmmm, that could be a real longterm, tax free winner.:beer:

Lokolo

Ophie wrote: »

f ucking hell had I realised that one post asking about children's savings accounts was going to result in having my knuckles rapped by people I wouldn't have bothered asking.

Sorry I thought this was a money saving website with help to find best deals, soooo sorry that I am looking for the best account for my daughter. It's not exactly 3 hours is now and still no responses, someone else asking about accounts for their neice was answered but not mine so I bumped it. Holy f uck, how very rude of me.

Ok... well actually someone has responded with a page from this site about what to do with money for young children.. LOL at that. You could have just used the magical search field to the right and up a bit :money:

And yes I have nothing against you finding the best account, when did I say otherwise? I just don't like it when people aren't patient enough to wait for more than a few hours. Seriously, people don't spend their whole lives sitting on here (well not everyone).

Murphy_The_Cat

I should also have said that Investing for children doesn't rear its head to often in the Savings & Investment part of MSE - but it IS a perfectly legitimate way of providing a potentially large pot of wonga of Juniors future.



p.s. the savings & investment boards only have a fraction of the number of people posting on them, and a fraction of the posts made over there. But some of the regular posters are VERY knowledgeable and REALLY know their stuff - which makes it quite interesting when they hold such differing views from time to time.

Ophie

Murphy_The_Cat wrote: »

I should also have said that Investing for children doesn't rear its head to often in the Savings & Investment part of MSE - but it IS a perfectly legitimate way of providing a potentially large pot of wonga of Juniors future.



p.s. the savings & investment boards only have a fraction of the number of people posting on them, and a fraction of the posts made over there. But some of the regular posters are VERY knowledgeable and REALLY know their stuff - which makes it quite interesting when they hold such differing views from time to time.

Again thanks Murph, I was just wanting some advice, and did ask on there first, after reading the articles. But none of it made any sense without it being explained... I know there are few, but as I am being pressured in my personal life for the account and don't want to make the wrong move I thought it would be easier to post in the arms, as it is something you might discuss in the pub, its also money saving and hey you lot in here do have brains!!!

Lokolo

Ophie wrote: »

Do you not think I looked at that part of the site before posting?

There was nothing on there that made sense to me, as a new parent and not having anyone to discuss it with, so laugh on, as you appear to be so superior to me.
[Are you implying that I spend all my time on here? I'm not even going to dignify that with a reasoned response, other than f uck off.

Then instead of asking what to do with the money why didn't you ask what the things mean? Then when someone responded you could have thought about it more and decided yourself?

At what point did I say I was superior to you?

And no I wasn't aiming that comment at you but others on here.

And time of the month is it?

Murphy_The_Cat

Ophie wrote: »

Again thanks Murph, I was just wanting some advice, and did ask on there first, after reading the articles. But none of it made any sense without it being explained... I know there are few, but as I am being pressured in my personal life for the account and don't want to make the wrong move I thought it would be easier to post in the arms, as it is something you might discuss in the pub, its also money saving and hey you lot in here do have brains!!!

OK, I've got you now.
FWIW, open a Childrens Savings account in the Building Society branch that is most convienient to you, pass on the sort code/account details to the GPs and let them start putting in some mullah.
They are now off your back and you've given yourself some time to do some research into better funds/alternative place to save/invest.
Then at a later date, advise the GP's of the new account details and send the money in that direction instead.
You owe it to Junior to get the money rolling into the account ASAP, but you owe it to yourself that you are comfortable in what you are doing and that you are in control of what is happening and that you haven't been coerced into doing something that you wouldn't be happy doing.

Ophie

cheers Murph - I shall go to Nationwide tomorrow and set one up, and then do some research when not being hassled so much.