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Original poster

What do you do with Christmas/birthday money for DC?

27 replies

Newcarday · 29/01/2022 10:57

Just that really…

Still have the majority of DS’s Christmas money in an envelope in the house.

DM said I should be spending it (and similarly for any money received at birthday) on toys/clothes/shoes/things DS would like.

DH thinks we should be buying these things and all money should go in his bank account.

Just interested in what others do? I think we’ll end up with a mix… there’s a few things I know DS would like and January really isn’t a month with extra cash and then just put the rest in his bank for future use.

DS is almost 2 if that’s relevant.

OP posts:
LadyCleathStuart · 29/01/2022 11:20

I used to spend a little and save the rest. So take them to the toy shop and let them choose a little something 'with their own pennies' and then save the rest.

Now they are older they get to choose what to do with it. With DS it's gone in a heartbeat whilst DD likes to save up.

WhiteJellycat · 29/01/2022 11:23

As above. Spend a little and save the rest. They have all they need. By 17 there will be enough for driving lessons

Isonthecase · 29/01/2022 11:27

Shove it in a cupboard, forget what it's for and spend the cash, remember and shove about the same amount in their bank account (I round up, obviously!)

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Milomonster · 29/01/2022 11:31

I put it all straight into a bank account as savings. DS has a pocket money account and a separate one for money gifted to him. He isn’t allowed to access the latter. He can spend sensibly using the first if needs something.

AdriannaP · 29/01/2022 11:33

I put it in their bank accounts. For her birthday, I let DD chose a toy she liked and the rest went into her savings account. If you don’t need to use the money eg for school shows or winter coats, I would save it for them.

Vbree · 29/01/2022 11:33

I've put it straight into a savings account. My son isn't even 2 yet so has no need for it yet. He has enough toys for now so I don't need to spend it.

gogohm · 29/01/2022 11:34

If there's something they need put it towards that perhaps eg new bed/bedding. But if you can afford it I would bank it, it will be most gratefully received by the dc at 18! I used to tell relatives they paid for x or y to appease them (things I had bought from us really)

MrsSkylerWhite · 29/01/2022 11:35

It’s his. Bank account for future.

Unavailableusername · 29/01/2022 11:36

Put it in their savings account. I wouldn't use it for clothes or shoes. I might split it into spend and save when they're older but let them buy something they choose as long as it's not really awful tat.

NuffSaidSam · 29/01/2022 11:37

If there's something he needs/you think he'd benefit from, get that. And then send a thank you note to the person who gave the money saying what you bought with it.

If there isn't anything he needs/wants or any leftover cash, put in a savings account. Don't buy stuff for the sake of it.

mightytights4 · 29/01/2022 11:41

We're in the spend a little and save the rest camp.

If they got £50 in total as birthday money from family I'd prob say they could spend £10 and put £40 in savings account.

Only exception is if the person giving it to them said they want them to spend it. We have one relative who does this.

AmberGer · 29/01/2022 11:41

When mine were little I used to just put it into their savings.
As the years have gone on their money has been used for various things, they both contributed equally towards a trampoline and a climbing frame/slide for garden, annual passes for local theme park and specific toys they've wanted.
Nowadays, ds1 is using his to save up for a new guitar and ds2 is saving his towards a ps5.

CMOTDibbler · 29/01/2022 11:43

DS has never had more than £20, so its always been spent on something he wanted or towards a day out.

Aroundtheworldin80moves · 29/01/2022 11:49

We have a spreadsheet keeping track of money, anazon vouchers etc. Then if they need or want something, it can be used for that. (Last year we got a massive pool for the garden for example. Before that it was a trampoline). Or we use it for days out.

BluebellsGreenbells · 29/01/2022 11:52

I used to use it for days out - or theatre/panto etc as extras.

There’s want and need - you buy what they need - the money buys what they want.

That said, I doubt a 2 year old needs stuff.

MinnieMountain · 29/01/2022 11:52

Spend half, save half. Although 8yo DS rarely spends the half we tell him he can spend.

southlondoner02 · 29/01/2022 11:54

Who is the money from and have they specified anything? If it's from your mum and she wants you to spend it on those things then you should. If not I'd be inclined to buy him one fun thing and save the rest. At aged 2 kids don't need much anyway so you may as well save it. Later on kids will have very fixed ideas on what they want to spend it on!

Camomila · 29/01/2022 13:24

Let them choose a toy each and then put the rest in their savings account or pay for a term of swimming lessons.

prampushingdownthehighst · 29/01/2022 13:29

All of our girls.money was saved and they put it towards driving lessons when they turned 17

Chatwin · 29/01/2022 13:35

My DC have never been given more than a tenner cash for birthdays/Christmas. We just let them spend it on what they want.

If they received more substantial amounts I would as others have said, allowed them to spend a bit and save the rest.

honeylulu · 29/01/2022 13:47

At that age I just put it in a savings account for him. It's still there. Not exactly a secret but I haven't reminded him about it either. Once they reach 18 I will have to tell him and hopefully he'll be fairly sensible with it but it's really up to him.

I suppose if there had been a toy or gadget he really wanted but which we had not got him because it was beyond budget I think it would have been reasonable to spend some of it on that, though that never came up.

I don't think money given to a child as a present should be used by the parents to subsidise their own child rearing costs. My SIL used to force her daughter to spend her birthday money on clothes because it cut down on SIL's own costs. That always seemed a bit wrong to me. (Might be different if the parents are very hard up and struggling to clothe the child, or if the child desperately wants a specific high cost designer item.) My own mum would tot up how much Christmas money I'd got and deduct it from the next term's parental contribution to uni. I can remember feeling quite cross about that because it felt that my parents ended up with my Christmas gift and I didn't get any benefit from it because I was in exactly the same financial position as i would have been without it!

So please think carefully about the suggestions that the money should be used for stuff like uni and driving lessons if those are costs you would otherwise be covering.

honeylulu · 29/01/2022 13:49

Oh I meant to also say that once my son was old enough to understand he had been given money as a present it was "his" to do what he wanted with it. Sometimes he saved up for something and sometimes he enjoyed frittering it away. Not my business.

KKslidoff · 29/01/2022 13:54

When my kids were two, I would spend their birthday and Christmas money on things like clothes and shoes.

They're a bit older now so they want more expensive things and like to have a bit more say in how their money is spent. For Christmas, we let them spend half on what they wanted and the other half went on clothes they needed.

Thesearmsofmine · 29/01/2022 13:56

At that age I would put it in the bank unless there is anything he particularly needs. Mine are older now so any money given they choose.

TheLovelinessOfDemons · 29/01/2022 13:58

It's their money and it goes in their Go Henry accounts.

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