To think money given to your child should be saved for them?

If money is given to the child then it’s theirs and should be put into a savings account for safe keeping until they are old enough to make their own financial decisions. Parents who use their child’s gift to pay for stuff they should be paying for as parents are essentially stealing from their kid. It’s grim. Parents who just spend it on treats for themselves are even worse.

This. Live in the moment, enjoy a treat for gods sake.

But they wouldn’t be able to afford to go otherwise?

Definitely save it for them, unless you are really strapped for cash. They will thank you as adults.

I think it just depends on the situation. If someone gave me money for my child and specifically said they wanted it to be saved for their future then it would be put in their bank account, but if they’ve just given money as are unsure what to get etc then I let my child use the money to pick a toy or whatever, or yes I might choose something for them that I know my child would like and appreciate. Nobody is giving my child huge amounts of money sadly, I’d probably think harder about it if it wasn’t a tenner here and there! Mostly actually people in my social circle tend to avoid giving money as a present and give an actual gift instead anyway. But I wouldn’t just add it to the family coffers unless in desperate need of the basics such as food etc.

I'd be pretty pissed off, if every time I gave my neice and nephew £30 for their birthday, their mum snatched it away and put it in a savings account. I give them that money to buy something nice - like a new top they want, new PlayStation games etc...

If you want to save for your kids, great - as you should if you can afford it, but don't take away all their money gifts to save for adulthood.

That’s really bloody awful.

Would it be better they didn't go then?

Apparently my God children think I'm awesome, because as soon as I discovered their Mum was forcing them to save all birthday money, I started sending Amazon vouchers. Then they get to choose a present!

Even if granny gives them £1 and says "buy yourself some sweets in the way home"? Or "here's some birthday money towards the lego set you wanted"?

Each situation will be totally different but I would've save onto credit unions.
Have several pots including a cash isa and stocks and shares junior ISA.

I guess it depends. If someone gave me money with a specific request
e.g. “put this in her ISA” or “buy her something nice”, I would obviously follow that.
We’ve been saving a fair bit for our DD since she was born ourselves so it’s not like presents are the only money that can be put aside.

Now she is 8, we allow people to put money on her GoHenry card. Money as a present feels like in lieu of a actual wrapped gift so she may as well use it to get herself what she would like. She’s pretty good at managing her GoHenry though and generally saves up for something she really wants so that gives me comfort it won’t get frittered on Prime and sweets.

Honestly, I don't think we put all the money they received as babies in their account. We give them a certain amount each month which they don't even know about. If we let them keep everything they've ever received, my older child would end up with probably about 2k more than the younger one 🙃 So didn't seem fair that younger should end up with less just because people (understandably) aren't as excited and generous second time around.

Now that they're a bit older we do let them keep the money they get but it's spending money. If they get money for their birthday, we go to a toy shop so they can spend it. Their savings are a completely separate thing.

But no, not all the money they were given as babies and toddlers went into their bank accounts.

My children used to ask for days out as presents!

Why is the child chosing a toy OK, but not a day at the zoo or a trip to Go Ape etc?

The way I see it if it’s given to the child it belongs to them. If they are old enough to decide what it’s spent on, let them do so. Otherwise it should be saved.
This is why I don’t give cash presents. Far too many parent getting their mitts on it.

But if you use it to pay for a day at the zoo, it’s your kids money paying for it. So it’s not anti Sue paying for the nice day out, it’s your child!

I give ex-SIL money for my nephew at Christmas/birthdays and tell her to spend it how she wants to - she could save it, buy him a toy, spend it on clothes, use it for holiday spends or whatever he needs. She’s a single mum and money is tight, but I don’t give it with the expectation that it’s saved for the future.

As long as it is beneficial to the child....

I always put their money aside. We went through a really rough spell when they were very small and I needed to use it to buy their shoes. That is what they NEEDED.

Thankfully I can save it all now and I don't "need" to dip into it and I would pay for any activities with family money but I don't judge others or the positions they are in.

I usually let her choose something with it at a later date. I do my own savings for her so she'll have enough for when she's older anyway.

This is entirely up to the parents. Gifted money could be the only way they can have a treat and day out.

What a strange thing to be judgemental about ....

I’ve always let them have any birthday money as spending money. If someone gives them money intended for their savings then of course I put it in there. Which has happened (edit - by which I mean, for my son’s baptism my parents kindly gave him the equivalent of the money my older dd had had from the Labour govt for a child trust fund equivalent- he didn’t get it because the Tories had abolished it. They never came to me and said “you’re frivolous wasters, put this in savings!”)

I do save for them monthly so they are provided for in that respect!

Relatives have also given them kids vouchers for days out directly so that’s an easy choice!

This, if someone gifts us £10 for a Christmas prezzie, we will buy him a toy he wants

If someone gives us £2 for an Easter egg, I’ll go and buy an Easter egg

We already save enough for him, I wouldn’t Chuck amounts here and there into his savings when we’ve been asked by the gifter to treat him

Any money gifted to my son we put towards something like if someone gifts us money for his Christmas prezzie I’ll use it for a toy he wants.

We already save every month for his future and he has a nice little pot already, I don’t feel guilty about this

I try and save as much as possible. If they have a fiver to spend on themselves it goes on slime or plastic tat.

If mine was given money it was always with the express instruction to “Buy something nice” so we did. It never occurred to me to put it in a savings account. It feels very mean to me.