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

Can't understand why people would need to share info on what they might have saved for their child(ren)! I wasn't able to save anything for my 'child' who is now an adult. I raised him alone, worked full time and more to pay for everything (not luxuries) and lived for the most part on an overdraft which is now thankfully paid off 😀

I saved nothing. They’re all doing fine.

Check and double the t&cs of childrens accounts (and keep yourself updated with any changes). As a building society worker I've seen many a teen blow their money within weeks.

Yes they will find out about the money and there is nothing you can do to stop them if they are determined to spend it

DD17 and DS16 have just under £30k each. £10k each of this was inherited, and the rest was by regular payments to what started as their child trust funds (from the government contribution that children their age got), but the majority of these payments were from my late parents.
They actually have more than us! They don't know. I'm not sure when to tell them. DS is a bit silly and would likely spend it on sweets!

Nothing for my kids.

Planning to/have been save around £100/month. But also expecting to pay for DC uni entirely and where we live (not Uk) it will be 100s of thousands. We will likely do this through cash flow rather than savings though as it will not be a lot more than we’re currently paying for school. We are not planning to hand DC a wad of cash for a house etc, if we can help at the time we will. DC is frankly likely due to inherit from about 5 adults (no children at all apart from our DC on one side of the family and not many on the other and a lot of relatives with a lot of money). So honestly not worrying about it much.

We put child benefit into a separate account. And I put £50 a month in an ISA. Mine are close together so it's all in one pot. We'll just divide when it comes to driving lessons etc. I doubt we can fund uni for them the way wages and tuition fees are gowing but it's something. Don't stress about other people's savings OP. Just save what you can. It all adds up

Our 4 week old already has £5000 in a bank account for him, MIL( as much of a pain in the ass she is) retired from the nhs and received her lump sum and kindly gave us the money to put away for him. Myself and DP are putting away £25 each for him monthly too so he can have a better life than we did when he grows up. Hopefully he'll be sensible and use it wisely when he gets access to the account at 18

Nothing. They do have savings though from money given when they were born, and money every birthday and Christmas when they are fortunate enough to receive around £500 a year from various relatives - we always make sure they have some to spend as they like but put the majority in their savings. It’s a good life lesson. Now they’re teens the pots have grown to £7-9k each. I actually don’t think it’s a good idea for them to have huge amounts to potentially burn through with silly decisions when they turn 18. We also do save for their university years to help them as needed.
We would rather spend a little bit more on fun family experiences while they’re young rather than spend less in order for money to go into savings for them. When they’re young adults if they choose to live at home while working then we will charge rent but secretly save it to give to them for a house deposit eventually. So in a way we’re saving for them in various ways but most of it is not in their names.

You're way more likely to need the money accrued in your property in retirement or old age - most people do. Your daughter likely won't see a penny, unless you're planning to gift it to her in her 20s?

Either way it's very selfish to take your daughters money gifted to HER not you, and spend it on your own mortgage. The house isn't hers - and will probably be used to pay for care fees to you.

This just isn't true. Often parents spend money at the end of their lives - a very tiny proportion of children in the UK inherit money, even if their parents own their house.

She's more likely just lining her pockets for retirement. It's bizarre she thinks she can take money that is gifted to her daughter for her own mortgage.

She then says "my daughter will have a half a million house in her 20s" but has no plans to give her daughter the house in her 20s. So no. Her daughter won't benefit at all

Adding your children to house deeds? This place is seriously wild.

£50 each a month. One would likely use it towards uni and the other a car. We’re not planning on letting them have the whole amount at once.

They will only be grand if they work for their money instead of having it all given to them I'm afraid

We save £100 per month per child (we have 2 DCs) and have done so since they were born.

I save £40 per month into their bank accounts (that they don't have control of)

Plus if I get any additional money then I 1/3 it and we each get 1/3 - me and 2 dc

Have done since they was born - so both have differing amounts due to their large age gap - one is 2 & one is 13

It's YOUR wealth she is building thou - not her own!

I found out my Godchild's parents mother was doing this. I was appalled and set up a saving account for her myself and dropped contact with her mother. She said "she will inherit it" etc. But now DGC is 30 and moved to Australia and her mum remarried (DGD dad died before she was born), sold up and moved to Ireland so it was convenient minded bullshit. You have no idea what life will bring and if you have not been VERY clear with the gift givers I think this very deceptive

Life as a parent is about teaching your children to use money wisely.

The people I know who live on the breadline were never taught how to build wealth, which is what this poster is doing for her child. It is a massively important life lesson.

I save £50 per month into a S&S ISA for my DD8. Topped up a bit when we could. My DH daughter (my step-daughter) benefited from £500 per birthday from her grandparents. Sadly they are no longer around for my daughter (16 year age gap between them) so I'm trying my best to 'even things up' for the younger one.

Do what you can. You might not have loads available to save, but you do have time on your side. Very small amounts invested now will grow over the years.

She's an only child and stands to inherit the property.

Putting it toward the mortgage is an investment of her money with a far higher rate of return than most other investments.

Nothing but they won't have university debt as we'll cover the cost of fees etc and they have a lovely life now. They go on school trips and lovely holidays with us. They'll be grand. They'll emerge from uni in a neutral position and I'm sure we'll give them something towards their first car/house

We stated saving for them in the hope that they'd be able to have a deposit for a house. Our deposit in 2006 was £12000. There should be about 9 for each kid at 18, which will barely buy them a decent 2nd hand car now. But if they're sensible, they can use it as a basis to hopefully save more. Who knows?

Mine had jobs as teens and saved their own money.

They all had about $5k in the bank at 18 as a result, and also something that was actually more valuable than money, the experience and high self esteem that comes from earning your own money, the habit of working, the mindset that they needed to work, and the references that enabled them to get jobs to support themselves when they were in university.

This.

We save a token (£25 a month each) amount for the DC in their ISAs so when they're 18, they'll have a bit of money to do what they want with.

We however have a long-term saving plan (in our names) so if all works out we can hopefully give them a contribution towards housing deposits.