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to use (some of)the kids savings to buy something for their benefit

(31 Posts)
flipflopper Thu 03-Oct-13 08:10:42

My children have been lucky enough to receive £1000 each from my grandma who died earlier this year

Me and dh have been saving up for a caravan but not getting on too well with it and with Christmas coming up, its not looking like much will be getting saved in the near future.

The kids REALLY want to get a caravan. Now is the best time to buy one as people are selling after the summer.
If we got one before xmas, we would be able to get it ready to use next year. So if we used the children's money, we would be able to get a really nice one, instead of a 20yr old one with damp issues!

I will be getting a lump sum of money when my grandma's house is sold so I would pay the borrowed money back (with interest)!

I just feel really bad about taking their money!
So tell me straight- would I be unreasonable to do this?

saintmerryweather Thu 03-Oct-13 08:11:54

if you put it all back as soon as possible i dont think yabu. if they dont have access to the money anyway they arent goi.g to even notice

FuckyNell Thu 03-Oct-13 08:12:14

Of course yanbu. Happy caravanning!

LaurieFairyCake Thu 03-Oct-13 08:13:08

Of course yanbu - what a brilliant idea

StillNoFuckingEyeDeer Thu 03-Oct-13 08:13:48

As long as you pay it back I don't see the problem.

cathpip Thu 03-Oct-13 08:15:48

As long as you put the money back, i take it they were not going to get it or know about it till they were older anyway. A caravan is something that the whole family can enjoy straight away and is certainly a good investment. Enjoy caravan shopping!

BrokenSunglasses Thu 03-Oct-13 08:16:11

If you're going to put the money back, then it's fine, but I do think you have to make sure it is definitely put back.

Chunderella Thu 03-Oct-13 08:22:55

As you'll be paying it back, this is a non-issue.

shewhowines Thu 03-Oct-13 08:24:05

It's great that you will be paying it back. It's only a loan.

But I think actually, that if anyone couldn't afford to pay it back, it would still be a good way to use the kids money. It would be for their benefit. They would get many years worth of good holidays out of it, that they otherwise wouldn't. I think in this particular instance, you could spend the kids inheritance without guilt, if that was the only way to afford it.

AnyFucker Thu 03-Oct-13 08:27:19

Do it

AnyFucker Thu 03-Oct-13 08:27:55

I wouldn't necessarily pay it back either

NoComet Thu 03-Oct-13 08:39:02

DCs need money when starting out on adult life, not when small.

Memories of happy family holidays now and pay back the money by 18 sounds fine by me.

My DGreatAunt put her money to me and my cousins in our parents names with orders it was in trust until we were 18.

Mine kept us from going in to debt while DH was job hunting and before I got a decent PG grant, far better than spending it on lego.

NoComet Thu 03-Oct-13 08:39:54

post grad (not pregnant) grin

MammaTJ Thu 03-Oct-13 08:41:44


mrsjay Thu 03-Oct-13 08:49:45

of course yanbu you are borrowing the money get your caravan we borrowed money from the dds in the past they have money in savings from their grandma too we always put it back , I am sure their grandma would rather it went to something useful and for them to enjoy

mrsjay Thu 03-Oct-13 08:51:17

But I think actually, that if anyone couldn't afford to pay it back, it would still be a good way to use the kids money. It would be for their benefit

I agree with this tbh it is for them to enjoy too why not use the money for that and when they are bigger and you want to downgrade your van you can give them some money if you want

OodAlpha Thu 03-Oct-13 08:51:29

If you're going to repay it(& there's no risk you won't be able to) then I would borrow it.

Jinty64 Thu 03-Oct-13 09:58:26

I think the money is for you to use for their benefit. Go for it. If you can put the money back for them all the better. If you couldn't I would still go for it.

FrightRider Thu 03-Oct-13 10:00:43

Message withdrawn at poster's request.

Poledra Thu 03-Oct-13 10:07:21

Looking like a unanimous YANBU, flip. Go on, do it. You know you can pay it back later and you'll get a better deal now - there's no problem. And I agree that even if you couldn't pay it back, the purchase is as much for your children as it is for you.

I'll cuss you if I get stuck behind you on a little country lane, mind grin

Distrustinggirlnow Thu 03-Oct-13 10:09:17

Oh yes, do it YADNBU

Exciting times smile

Vivacia Thu 03-Oct-13 10:11:48

I would only do this if I was confident of being able to pay it back soon.

flipflopper Thu 03-Oct-13 11:15:51

oh wow, thankyou, I don't feel so bad now. They do know about the money, but they know it is not for spending now, and it is for when they are older. They don't know we are borrowing it though!
I will definitely be able to pay it back, and will do so with more interest than the bank would give them!
We can go caravan hunting at the weekend with a guilt-free conscience now! x

mrsjay Thu 03-Oct-13 11:17:46

ooh I love caravan shopping me and DH are looking at ones with a fixed bedDC are starting to not want to come with is, a little tip though watch the head height if you are going to get bunkbeds as the top bunk is out grown quickly

allmycats Thu 03-Oct-13 12:24:46

Good Caravan Hunting - I love it !!
mrsjay - we have a Lunar Lexon (Freelander) with the island bed in the back and it is really lovely and can recommend it highly. we are having to change it though as we have changed our tow vehicle and need to go for something a bit shorter.

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