To ask how much you have saved/aim to have saved for your child when they reach 18?

Presumably because it's not a savings account on her behalf, it's at best a "savings" account on your behalf?

Edited for typos.

We saved child benefit, so around £1k a year. So around £18k by the time they turn 18. It’s for car/uni/house deposit tho.

Well it’s different because it benefits you and not her? You could put it into savings for her own house deposit, rather than paying off your own mortgage with her money- or will you release the equity she’s paid off when she’s older and give that to her?

Nothing for all 4 of them

We save £25 per month per child (2 children)

I hope she has a lovely day.

I don’t think it’s shameful at all.
added her to my deeds? Get a grip.

Nothing. We save and if when the time comes we can help out with a car or house deposit we will, but I'm planning on her getting a lump sum at 18.

Eldest is 16. We’ve tapped into our savings to live, because our apartment flooded and we had to pay for renovations to the one below us and to help out mother in law when she couldn’t afford things needed to live. This year we’re going on a big holiday as eldest will no doubt be working next year so we are where we are- will try to get together something to help him out before he starts college/ work but neither myself nor dh got help (my dad went guarantor on a loan and I’ll do that) and aside from this holiday we’ve always bought things through credit/loans as we could never afford savings.

Is this a thing?

Honestly? Mine are 13 and 11 and we've saved nothing! I'm thinking I should start now. We have discussed it. We live in a large house and will downsize when the kids leave home. This will give us a substantial amount of money and we'll be able to give the kids some of that.
I just want to say, my parents couldn't save anything for me or my two siblings. We're now in our 40s and all doing very well for ourselves. I don't think having a big savings pot is essential.

Well done for saving that, OP. For me, I’m saving what I can. I want to give my children a helping hand, not fund their entire adulthood. I’m sure anything will be appreciated, try not to compare, although easier said than done xx

Absolutely. Otherwise we’d have 100s of dollars of fucking pupito burritos or twice the amount of brats shoes clogging up the vacuum cleaner.

don’t see how it’s any different to putting half of the cash she gets into a savings account on her behalf 🤷‍♀️

Nothing! She's 18 today and has had a lovely childhood with days out, holidays, and time spent with me. I don't feel bad I was a single mum on a small wage for a long time and I gave the best I could.

This.

Also, building our own financial security to ensure we are in a better position to help out adult DC if needed.

I can't fathom why anyone who still has a substantial mortgage would lock money away in a kid's savings account instead of overpaying the mortgage.

I do hope you've added her to your deeds in a percentage requisite with her contributions, even if only a small %. Your property will be gaining value and you are saving interest, even if only a little, because of her. Shameful if you aren't planning to give her the investment with interest back - hopefully you are

I save £100 per child per month. It depends on your means. I may switch to saving in a pension instead for them at some point or reduce the sum and split part to savings part to pension but I don't want to impact their lifetime allowance if there is one when they're older so it's a balance. I'm not overly concerned about them squandering it like others have said. I was a very sensible teen and never wasted savings - and my parents couldn't regularly save for me but encouraged me to save birthday money and things like that. I bought my first house with my husband partly from savings that began in childhood and partly from working as soon as I could at 16. Having a couple of thousand saved already by 16 was a nice incentive to continue on. My parents gave me a good financial education I think in terms of savings though they didn't come from much themselves and I think that stopped me from wasting it.

You use your child's Christmas money to over pay your mortgage 😮

My parents saved up £20,000 for me for a house deposit and we've done the same for ds. Sadly it doesn't go anywhere near as far now as it did when I was 18.

I had quite a bit when she was little but life always ended up getting in the way so I stopped making myself feel guilty about it and came to the conclusion that she is an only child and paying off my mortgage quicker will do us all a favour. She gets a lot of birthday/ Christmas money and she is allowed 50% to spend on what she wants and the other 50% I make an extra mortgage payment. Any extra cash we have goes on the mortgage.

I have 3 children, all now adults between mid 20s and 30s. I didn't save anything for any of them. I never had sufficient surplus to make it worth while, and if it was a toss up between making their childhood as fun and stimulating as possible (which costs) and giving them a couple of thousand each, that would make very little appreciable difference to their prospects at 18, I made my choice.
I've gone on to give to each according to their needs in line with my means at the time, which have now improved. So bought one their first (cheap) car and had another live rent free while they saved a deposit and provide free child care for another.
All three are doing very well independently in good careers, so while it would have been lovely to have the wealth to have saved them a life enhancing chunk each, I don't regret not scrimping in their childhood to give what would have amounted to very little.

Keep it in your name, or watch it all go on holidays and beer and nights out and designer shoes.

£30 gazillion. That'll just about cover university for child 1. Child 2 & 3 have a lot of catching up they have £17 gazillion each. I will be working some extra weekends in order to boost their savings. I'm hoping by the time they're 18 they'll have around £900 gazillion so it covers driving lessons and basics.

We save 20 quid a month for each of them and when younger parents/ grandparents would buy them smaller gifts then put money in their savings. We do what we can but feeding and clothing them now is more important. If we can save more we will but can't currently.

I know what I (a relatively sensible teen) did with my student grant when I was 19, so there is no way I would build up any significant savings in a child’s name.

Unless you’re likely to go over the £20k annual isa limit, why not have it in your name?