Not much saved for kids

We were in the position where we had no spare money to save for them at all when they were this little op but, as we progressed in life, could start putting money away far more quickly for them through their teen years. Which is just as well, given we moved into the minimum uni loan territory.

You sound like a wonderful thoughtful parent who is wanting to do well by their children. I wouldn't worry too much about what you hear on here...it is another world! Anything that you manage to give them will be a help, but also remember that the biggest advantage is having loving and supportive parents. I feel more and more at the moment everything is being quantified in financial terms and money. As someone who grew up in quite a toxic household don't underestimate the value of being kind, nurturing and encouraging.

Most people I know don’t have anything or a few hundred from special occasions etc.

Just most people would rather post what they do have rather then what they don’t.

I do have to add to my previous post that, because my household income was so low (single parent to five kids) my university-going offspring did get the maximum loans and were eligible for some grants as well towards their costs. I realise that those with higher household incomes might well need a buffer for their 'parental contributions'.

Another one who didn't receive any savings from parents. I think their thought process was to enjoy whatever we had on spending time together as a family 'in the here and now' (days out, meals out, couple of weekends away, 1x family holiday). My parents weren't wealthy, but we were comfortable on the whole. There will be no inheritance either, but I don't care about that.

We do put some aside for our dc, but it'll be nothing like the £30k you see mentioned on mumsnet, certainly less than 10k. The only specification I have is that they use part of it on something sensible (driving lessons, new car, towards their first term at uni if that's the direction they take) and part on something fun (a bit of travel, a holiday with friends or similar).

They'll both inherit pretty well one day.

Ummm this must be some sort of wind up thread - i grew up with zero. My siblings also were given zero. Yours will have alot more than so many other kids, but you are worried?!?

Your children are still very young. You have plenty of time to keep putting bits away for their driving and uni.

The people you may have heard that have £30k saved probably have kids nearing the end of secondary, or at college.

You've got plenty of time. Just invest it well for them and it will grow. A junior ISA or trust fund will help it grow.

My parents had/have nothing saved for me or my sister. Some people just don’t.

I've commented on this before. When my kids were growing up we were so poor that we often ran out of electricity because I couldn't afford to top up the meter. I mean REALLY poor. There was no money to save.

Fast forward twenty odd years. All my kids earn decent money, all are home owners (one who bought as a single person). All but one went to university so have loans to repay but this hasn't held them back either. And, I can't emphasise this enough, they grew up with NOTHING. I could just about bung them a fiver when they were at university - no 'topping up' loans, they had to work.

Yes, it's nice to give your kids a leg up if you can afford it, but nobody should feel that their children are doomed to being second-class citizens if parents can't give them a house deposit or finance them through university.

Unless your children are very academic I would focus on encouraging them towards apprenticeships anyway (and even if they are very academic, there are some very competitive apprenticeships around in areas like law etc)

I worked for year to save up for university and then worked in every holiday (we weren't allowed to work in time but at many universities you can get a term time job too)

You cannot compare yourself to others as there lies madness.

I was given nothing money my own child is exceptionally lucky and has money coming his way but he doesn’t know it. But it’s a proportion of our income which is very decent. That’s all you can do in life spend and save to your income. My cousin had a house given to her as her wedding present, imagine that,

One thing you can do is equip them with skills so they can get work and earn their own money

That's because the majority of mumsnet are rich or pretend to be this is in no way normal this is why student loans and part time jobs for young people exist

Agree with the others that's amazing op ! Well out of our reach when DC those ages.
However invest the money properly to do them a favour .
Keep half in wherever it is and put the rest into a broad index fund ie lots lots of companies them .this will grow that money much much faster and better and if you do it now the stock market is lower because of the war. It takes a few years to properly get going.

I think the majority of kids don’t have any money saved for them, and they turn out fine!

Another who has never had anything once i turned 18. So you are doing amazing on a low income and they are young. Not everyone saves for their kids for varying reasons.

DC older than yours and we have less saved than you. Havent received any birthday and xmas money or money when they were born. Neither DH or I were ever given money from our parents.
I think you’re doing great!

They told me I would get it when they go if it doesn’t get all spent by them so in my very late 60s probably. I have saving bonds for my own kids, I have no idea why they didn’t want to help.

Most people I know don't (except a few, quite rich, people). Not unusual round here anyway.