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

My eldest had an isa with £1500 in it and blew it in 2 months 😳

The rest was in savings which frankly I've kept back until he's more sensible !
I'm trying to encourage him to open a sipps so I can add to it.

The youngest I'm going to open a s&s isa and a pension, as well as a savings account.

I have nothing for my Little girl, I was saving her child benefit but with cost of living ect it’s had to be used up/spent monthly. I will support with house buying ect. When she turns 17/18 family holidays will fade away and I could stick a few K away a year until she’s ready to buy a house. Will also prob get her a small car on finance.

DD1 will have about £25k in a stocks and shares ISA next month. DD2 will have similar. Regular savings of between £25 to £100 a month since they were tiny.

They may blow all of it on a mad Ibiza holiday (although I don't think they will) but they won't get it again.

For various reasons, tax and others it always made sense for us to put it in their names anyway.

No one is expected to pay for their kids uni. They take out a student loan and they work part time.

Again, yawn.

Would she not have a roof over her head if you didn’t use her money towards the mortgage then?

If that’s the case, why are you in a half a million pound house if you can’t afford it?

You are trying to justify why you steal from your daughter, you’re so delusional, you believe it too.

I already see where your mother/daughter relationship will be in 20 years time….

Prioritising a stable roof over my kids head does not make me a bad parent.

yes my names on the title to the house but as the last morsel of food on my plate and breath in my body it’s hers. Get off your high horse, it’s just a different way of saving.

I hadn't realised the threshold for the full loan was still only £25k.

Given a single minimum wage income for 40 hours a week is £23,800 that is completely mad.

It makes a mockery of the idea that access to university is in any way equal.

We are pretty average I would say. 3 bed semi, 2 kids, average UK take home pay. We have saved around £20 a month each into a stocks and shares jisa since children were born. Reckon they will get around £8000 each from that all going well at age 18. In addition I started saving £150 a month when my first child started high school to help with university costs. It is estimated we will need around £12000 per child for university living costs for a four year couse. It's the absolute best we could do.

I can’t believe you use money your child is gifted to over pay your mortgage!! That’s absolutely awful! How can you be so selfish towards your own child?

Yes she will get the property when you die (only maybe, as nothing is guaranteed, home fees, partners, remarrying, probate etc) but so will everyone else’s child when their parents die, yet their not taking money given to their child as gifts.

You are delusional and a thief.
It should be going into savings for her, because you do know that when she turns 18 she will have a life and need money to work/live/ by a car/ go on holiday. Instead She will have nothing which is fine, but it’s not fine to have nothing because your mum took it all for herself!

She will not look back and thank you.

I had nothing when my kids were growing up. Nothing. I was a single mum to fiv and could barely put food on the table. There was no money day to day, let alone to save for them.

Every one of them has gone out and bought themselves houses (with partners, not alone, they aren't made of money!), got decent jobs, been through university (all bar one) and are surviving well despite the COL crisis.

I wish I could have given them all a house deposit, or enough to buy a car, but I couldn't. They managed this by themselves.

So everyone who can't afford to save for their children shouldn't feel guilty, their children are not doomed to a second-class existence because their parents didn't put a few hundred thousand aside for them when they were young.

Err nothing although they do have the child trust funds which are about £1k, I never added to them just had them in shares. My 16 year has a weekend job and does overtime in the holidays so saves himself.

Yeah I’m sure she’ll be super cross in her early 20s to find out she owns a half a million dollar house instead of a full set of limited edition Ty teddies

But she doesn't, you do. And if you live a long time, have care fees, any of a few things happen, she will never see that. She certainly won't see it when she needs it.

Christmas money to my DD goes partly into her hand for anything she wants and partly into a savings account for university. What's your plan @CultOfRamen if yours wants to go?

I have a Monzo account and use the 'round-up' feature to put into a savings pot for my baby. She's almost 6 months and has £500 in there that I didn't even notice going in as it's just change. Any leftover child benefit (ha!) goes in there too.

I have JISAs for my three (8,6,3) and I estimate they’ll have around 15-20k when they turn 18. I’m hoping they will be sensible. I got around 7k when I turned 18 and spent it on a car / insurance so I’d expect the same car / insurance / house deposit. I could be very naive and be eating my words in 10 yrs time but although I was a horrible teen, I knew the money needed to spent on something I needed!

4k + £200 inheritance from their grandparents.

We saved very little when they were tiny as there were so many other things going on, but we prioritised them having a bit each to be able to take a step towards their own goals.

My 19 year old hasn't even moved his CTF that the money is in to a proper account he can use yet. He works part time and is fairly content at the moment.

I opened a SIPP for DS ..... provided you invest wisely, it's 'free' money from the government. If you put in the max 2.8k they'll top up to 3.6k. I self-select (I used to work in the industry) and so both the SIPP and ISA are doing very well. First stock I bought for it was Proctor & Gamble (makers of Pampers .... the world will always need nappies).

As a teen, my future was blighted by not having a source of cash. I'm making sure my DS has a healthy 'fuck off fund' which will give him options should the worst ever happen.

My husband and I have savings but not in our children's names (one of whom is profoundly disabled and will never have capacity to manage his own money anyway). What would I ever spend money on if not my children anyway? To me it's all one. We would naturally give whatever we could sensibly afford to our able child if she had proved she's sensible etc at the point when she was thinking about buying a house, contribute whatever we could do uni fees etc, and my little lad will live with us as long as we're alive and it's in his best interests. I don't really see money as something for me v something for them.

How will she own the house? You'll own it surely. Or are you going to transfer ownership to her.

This is just bizarre

We started a child trust fund when the labour government introduced it (government paid £500 I think). Paid in £25 a month until she was 18. It was in stocks and shares and came to about £24,000. You may want to consider paying into an isa in your name instead of your child's. While my daughter hasn't gone and blown it all on drugs some might and it might be useful to be able to access it yourself if they needed money before the age of 18 (for an expensive school trip for example). I would only do it if you could afford it. Having money to do nice things as a family is important and parents shouldn't feel they have to scrip and save so their kids can get on the property ladder.

What on earth @CultOfRamen that money was gifted to your child, not to you to overpay your mortgage. Why are you taking 50% of her money to pay your mortgage?

Yeah I’m sure she’ll be super cross in her early 20s to find out she owns a half a million dollar house instead of a full set of limited edition Ty teddies

It should be about £20k when she's 18. It's in her name but it's not being given to her until she's mature to use it for something like a house deposit, uni, travelling etc etc.

It's not for pissing up the wall.

We started bonds for ours when they were born. Gave them both 10K when they turned 18.

I hope she finds out and disowns you