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Jen
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Forum Member
Total Posts: 4
Joined: 08 Jun 07
Member #14
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We have a 2 kids and all their child benefits goes straight into their savings. Since its not our money, it just make sense to save it for their future. Was wondering if anyone else is doing the same thing?
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bethsmummy
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Forum Member
Total Posts: 4
Joined: 20 Jun 07
Member #111
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yep we do,it means there will be plenty in there for her future
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KLongland
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Forum Member
Total Posts: 3
Joined: 21 Jun 07
Member #114
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Quote: Jen, Wednesday, 20 Jun 2007 20:21We have a 2 kids and all their child benefits goes straight into their savings. Since its not our money, it just make sense to save it for their future. Was wondering if anyone else is doing the same thing? Yes I do the same for my daughter and we make it up top £100 a month so that we are paying in the maximum of £1200 a year. We are hoping she can then use it for university or a house deposit.
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mobeenakhan
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Forum Member
Total Posts: 3
Joined: 17 Jul 07
Member #148
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Mine gets spent on nappies! I do try to be careful and make sure it is spent on things for her. I have to say the worrying thing for me about the CFT's is what if they decide to blow it all on a motorbike or something when they're 18?
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RobynB
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Forum Member
Total Posts: 3
Joined: 02 Sep 07
Member #170
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I didnt know that this could be done!!
But right now that £120 a month comes in very handy for new shoes and clothes and other things for the kids like days out. Dont think i could manage without it!!
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yummymummy88
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Forum Member
Total Posts: 3
Joined: 15 Sep 07
Member #177
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No, it goes on things for my son such as nappies, wipes etc :0)
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jennyy
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Forum Member
Total Posts: 3
Joined: 15 Sep 07
Member #178
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My husband takes it and then he has a DD to out son's account with more than his benifit
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mummyofone
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Forum Member
Total Posts: 3
Joined: 15 Sep 07
Member #179
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no not yet but am going to try and save some money for the future.
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cebee
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Forum Member Total Posts: 6 Joined: 18 Sep 07 Location: UK Member #194
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Quote: Jen, Wednesday, 20 Jun 2007 20:21We have a 2 kids and all their child benefits goes straight into their savings. Since its not our money, it just make sense to save it for their future. Was wondering if anyone else is doing the same thing? Not at the moment. I'm in two minds about my little one's CTF. I think it's great for her to have an investment for the future (and any cash gifts from relatives with probably go into it) but, OTOH, I'm not sure how much I personally want to put into a fund that she can access at 18 (with no restrictions). If one spouse is a low/non tax payer, it might be "safer" to save in secret and hand over a surprise when the little ones are older. (Of course, I'm hoping my baby will be wise enough not to blow her CTF on a vacation or something but you never know!)
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bear
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Forum Member
Total Posts: 5
Joined: 21 Sep 07
Member #202
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I opened up a second account for my daughter, so I can save money for her and then give it to her when I prefer to. The money is in her name as well but only I can get the money out. I havnt added to her CTF yet shes only 11 weeks old and I use her CB money for nappies and milk, but I will probably start adding when shes a bit older.
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vic83soton
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Forum Member
Total Posts: 5
Joined: 23 Sep 07
Member #208
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we tend to spend the child benefit on things like nappies milk, then toys or dvds
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Kazzajr
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Forum Member
Total Posts: 4
Joined: 05 Oct 07
Member #226
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I have also opened a separate account for my son which is in both our names. I pay half his child benefit into this, as this is all I can afford at the moment.
I'm still not entirely sure about the CTF one with it being solely up to the child what to spend it on, hopefully my son will spend his wisely but who knows what our children will be like at 18?
For this reason I only put £5 per month into the CTF.
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LauraJ4
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Forum Member
Total Posts: 3
Joined: 06 Oct 07
Member #229
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We go on a monthly shopping trip for new clothes with my sons CHB - My son has more clothes than me and my husband combined! I agree with OP i am woried about the cft money being used for a holiday rather than something sensible! LOL
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Anyone saving their child benefit into their CTF?
20 Jun 2007, 20:21