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

I can’t afford to save it. It either goes on a day out or towards bills that are in the childs best interest for me to pay.

Any money given to my child goes direct to their savings. I guess if I couldn’t afford a day out, and my child would benefit then I’d consider buying tickets for something. But I never have. They are 17 and 20 now and the money is helpful for uni and later house deposit etc

Yes I put any money in savings accounts for my kids. I may have dipped in on occasion but always paid it back. They then got the money at 18. My DD had a couple thousand cushion heading off to uni. My son burnt through his pretty quick though!

If you can afford it, yes, I always put all their money straight into their savings account.

I don't see why there's any reason to be judgmental about it. I spend money on my kids almost every day. If their grandparents give me money 'for' the children, they intend for me to use it to benefit their grandchildren which could mean lots of different things. We will continue to support our children until they are adults anyway so it's all the same thing in the end.

Everyone does things differently OP, there isn’t a right or wrong way.

We have 2 young DC and we put any money they get for birthdays/Christmas, etc into their savings accounts BUT we are in a position where we are able to afford tickets to the zoo and other treats and luxuries for them. Other people might not be in that position and it might be the only way they can have a day out or a luxury, if we weren’t in the position we were in then I would 100% use the money for treats, etc if I needed to.

Meant to I don't judge people that don't do that!

Depends on financial situation but it’s equally ok to save it or buy something the child is after

When DD was a baby I saved it for her but since she was about 6 she's been able to spend it on what she wants. If family members want to add money to her savings that normally gets done on top of any birthday/xmas money. I always add money to her savings and she's also had a pension since she was a baby.

I don't people that don't do this though- each to their own

I think if you've very little disposable income to spend on things like treats, meals out, activities like zoo or soft play, then it's fine to spend some of it on that. As long as it's for stuff directly benefitting the child.

Ideally I'd probably want to be able to put away a proportion of gift money in an account, but also use some for fun things at the time the money is given.

My parents and the childrens other gps and step grandparenrs regularly send me money for the kids (they only get to see them once every couple of months). We don't save that- it's used for days out (that they'd probably take them on if we lived closer!), treats, new clothes and so on.

Money that was given to us with the intention of being saved - like the money my nan left my kids tongue into savings when she died - is saved. Otherwise it's money in leui of gifts or treats.

if your child is 2 then saving £20 rather than spending it now may not be wise. That £20 may be worth very little in 16 years time if inflation remains high. Plus - some parents cannot afford treats - don't assume your choices are the only correct choices.

I didn't say everything should be saved, I'm saying the opposite! Now they're older, the decision is theirs to spend how they like! And they'll only learn about budgeting/value for money by having control of their own money.

When they were younger, then yes, I'd buy them something with money they received!

I don't think all the money should get whisked away at all. If parents want to save for their child, they should put their own money into bank accounts.

"if the child benefits then don't judge" sums up my feelings on this entirely.

Child gets savings? Great
Child gets a toy? Also great
Child gets a day out or a treat on a day out? Also great
Child gets safe car seat? Great

I can't get worked up about parents spending money on their child as they see fit.

Also, do everyone else's kids get gifted money? Wondering if we're outliers, DH and I contribute monthly to savings for the kids but neither of them has ever been gifted money from family/friends.

When our children were young, we put it their savings. Once they were older, we’d let them choose what to do with it.

We stopped giving money to a relative because we found out they were spending the money we gave for their children, on themselves. We bought gifts instead.

My mother always gives money to the DC for birthdays/Xmas. She would be horrified if I stuck it into an account for 18 years, she wants the credit for it now, so cinema trip or something from the toy shop it is 😂. I do teach them saving with a little bit of pocket money each week and our mortgage will be paid off when our oldest turns 17, freeing up money to help them out in regular amounts when they need it most. I know my DSis uses her DC's money for new clothes for them at times, her DC are very small and they are a one income house. If the child benefits then don't judge!

If the parents couldn't have afforded it, maybe they would have gone for a less safe one? a second hand one that they couldn't know hadn't been in a crash or been otherwise misused?

It depends on what the person gifting the money requests.

Most of the financial gifts we receive for our child come with a specific request attached to buy them an appropriate item or experience. The person wants them to have a gift to open, but is sending money because we live far away and it is simply practical.

we have other relatives who make specific contributions to the trust fund we set up for our child. It is money she will be able to access as an adult, but not unfettered.

I dont think its fair to judge what others chose to do with gifts of money for their child. not everyone's circumstances are the same so basically, you do you!

Personally, if i gift money to a child, but give it to the parent, its up to the parent what they do with it and i accept that.

For my GC i have opened little bank accounts for them, which will revert to their names when they are 15. i give a small token gift for birthdays etc and then i pop some cash into the account. it wont be a massive amount of money, but its all i can afford.

If i was every gifted any money as a child, i certainly never saw any of it!

I have no issue with money I give to a child being used as a treat for the child. If that means they get to go to the zoo or buy that toy they wouldn’t have otherwise then fantastic!

Given my 13 year old son's ability to burn through his pocket money at a rate of knots, I remain perfectly content in my decision not to open, add to, or maintain a savings account in his name. He's definitely one of the ones who'd blow through £20k in six months and have nothing but a few designer t shirts and a holiday to show for it.

His birthday and Christmas money have always been for him to spend. When he was younger, DH and I might put it towards a big purchase like a trampoline or new bike, and now he's older it mostly goes on expensive aftershaves and fishing gear. It's his money, given in lieu of an actual present. If the person gifting him it had given him a t-shirt or computer game he'd get use of it right away - money is exactly the same.

YABU to expect everyone to make the same choices as you.

it’s ok for people to live their lives differently

It doesn’t sit right with me that gifted money given to a child (in the hands of their parent/ guardian) is spent on their behalf. My opinion changes based on their level of understanding/ maturity and if they have specifically requested something I.e a 7 year old asks for a new scooter and he’s just had his birthdays, he chooses to put his money towards that new scooter.

I know of parents who have used the money to buy a new car seat. That just doesn’t sit well with me but not every parent has the financial means to provide for their children from their own pocket. The justification would be that a car seat is a vital piece of equipment for the safety of the child. The question remains, if the child had not received the gift, who would have purchased the car seat? It would have been a necessary piece of equipment regardless.

When DD was little, if she was given money for her birthday or something I'd often use it to buy her a new toy or something. She has a winter birthday plus Christmas so it often got held back til Spring/Summer and then spent on toys for the garden. Often people actually said "I've sent you some money to buy her something because I don't know what she'll like". I almost felt guilty holding onto it for 6 months!

I wouldn't have used it for something like the zoo as that would be paying for DH and I and that didn't feel right.

She's 6 now and when she got money for her birthday it went in her piggy bank. Some has since been spent on toys but much of it is still there.

Larger sums she got when she was Christened did go in a savings account but smaller amounts have generally been spent on her. DH and I put money away for her for when she's older so she won't be deprived.

At 14 months old??? They can't make a choice.

Come on, sometimes you can and should make decisions for them. You are allowed to buy them a toy with the £10 aunty gave. You do not have to save everything for when they're older.