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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

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

266 replies

Pringleeo · 01/06/2024 12:34

We have 400 quid so far and dc is 2. Friends seem to already have 5-10k!! This is not possible for us. Is this the norm to save so much? I know housing etc will be crazy in future so I would try and save more but just can’t at the moment

OP posts:
GHSP · 01/06/2024 12:48

Nothing. I’ve just invested my time and energy in their education and development so that they are able to stand on their own two feet in the world.

MagnetCarHair · 01/06/2024 12:47

yumyumyumy · 01/06/2024 12:44

7 trillion.

Should just about get them through uni.

LongIslander · 01/06/2024 12:46

yumyumyumy · 01/06/2024 12:44

7 trillion.

You're not trying hard enough, @yumyumyumy -- your child will be a pauper.

OP, not a penny. I'm too busy having a good time and living off small change from down the back of the sofa.

BeardedLodger · 01/06/2024 12:46

We couldn't afford to save much at all when DC were young, lockdown proved a blessing in that respect and we now have a healthy amount.

Beezknees · 01/06/2024 12:45

Zero and zero. DS can live at home for as long as he needs, I'm a single parent and not a homeowner myself so I certainly won't be in a position to help DS become one. He can save up himself.

yumyumyumy · 01/06/2024 12:45

Just save what you can afford. Don't compare

yumyumyumy · 01/06/2024 12:44

7 trillion.

Clawedino · 01/06/2024 12:44

Mine is 2 aswell and has 1200. We don't add to it regularly. It's just money that was given at his birth, his birthdays and at Christmas. Don't have a target, just putting in there what he is given each year!

Nollie85 · 01/06/2024 12:44

I’ve put child benefit straight into a different account (still in my name) and decided to only use it if we’re really stuck & if not save it. Some people think that’s controversial but it is all money to me. So my DD 2 years old has about £2000, but not saying that we’ll always be able to save that

Dweetfidilove · 01/06/2024 12:43

What’s important is putting in what you can afford.

If you can, get them a junior SIPP to start them a pension as well - consistent contribution over a number of years is what will make a difference for them.

cadburyegg · 01/06/2024 12:41

About £2600 for ds9 and £1500 for ds6. I've saved £20/£25 a month for them each since they were born. They will get access to the money when they turn 18 so I don't want them to have silly money but at the same time something to go towards uni costs/driving lessons/their first car would be helpful for me if nothing else.

HippeePrincess · 01/06/2024 12:40

My eldest two have had their birthday money saved given from my grandparents when they were still alive and aunt and uncle put into premium bonds. They have about £1000 each, the youngest one has nothing yet and not sure if we’ll be able to match it at any point.

CecilyP · 01/06/2024 12:38

Nothing! Having young children is an expensive time. When they are 18, they can go out and get a job. If they still live at home and you charge them a pittance, they can soon build up their own savings!

bulbbright · 01/06/2024 12:38

I'm not trying to be snarky by the way! It's just that threads like these usually end up making ordinary people feel quite rubbish! But hey, maybe this time I'll be proven wrong. 😊

TemuSpecialBuy · 01/06/2024 12:38

You can only do what you can do.

I personally dont like JISAs. So we only put birthday and Christmas money in there and top up our own ISAs first and foremost.
We do encourage family to give money rather than more clothes or plastic crap they dont need

With JISAs your child gets access at 18 thry might be sensible but they might blow it all on designer outfits and a 2 month trip to ibiza

bulbbright · 01/06/2024 12:35

I'm sure lots of people will be along shortly to boast about their enormous salaries and savings pots...