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How much was your dcs (government) child trust fund worth

125 replies

clueless91 · 05/04/2022 16:02

I'd totally forgotten all about it 🙈
Army family so we've moved loads and I can't even remember who it was invested with!
Dd has just turned 18 and we've sent of the form to track the account down but have no idea what it's worth. I remember there was different amounts depending on when the child was born.
I've never paid into it as I had my own savings account started for her so can anyone let me know what she can expect to get?

OP posts:
PaperTyger · 06/04/2022 08:46

Tango because some were cash ISA with teeny % rates.
The other was stock and shares ISA with some like my DC averaging over 20%

MissAmbrosia · 06/04/2022 09:04

Dd's was £750. We moved abroad when she was 2 so couldn't have an ISA and we didn't pay any money in. Now currently working out to extract the funds from abroad.

Girliefriendlikespuppies · 06/04/2022 09:25

@Codswallop20

Eldest DD born 2006 got 250, put it in stocks and shares and paid in £20 a month until maybe a year or two ago when I bumped up to £50 a month. She has over 10k now and 2 years left to go. Some years it dropped in value. I'm bloody glad she has it now as I had literally nothing when she was a baby but I have still managed to do this for her!
You've done exactly the same as me, my dd is a 2006 baby as well. I'm a single parent who has had £0 from her other parent so the fact I've been able to do this for her is amazing. She has over ten grand in the account now with two years left to go.

When she was born I was living with my mum and had nothing but I was still able to put a tenner a month in which I increased to £20 when finances allowed.

I'm not sure my dd will go to uni but this money will be a massive help to her whatever she decides to do.

Girliefriendlikespuppies · 06/04/2022 09:28

[quote TracyHorrobin]@BonnesVacances
No such thing as "free money". It was paid for by the Taxpayer. Interesting that so many "haven't done anything with it since" or words to that effect. Another Govt initiative that failed to achieve its objective.[/quote]
I couldn't disagree more.

This will be life changing sum of money for my dd (see my above post) and meant that kids especially of low income families had something to start out with.

MangosteenSoda · 06/04/2022 09:32

My DC is too young for the government money, but just to illustrate the benefits of investing vs saving, a GP put some money in a JISA for him in Jan 2020 and that has now grown by 33% without any more being added.

Ideally add a small amount/whatever you can afford each month to really maximise rewards (my DC is disabled and we realised that a trust rather than a JISA is better, so I chose not to add more).

Also Really recommend Vanguard as they are very easy to use and charge low fees. Something like a LifeStrategy (you can choose levels of risk) or an index tracker is a simple choice. I look at past performance and ongoing charges (low) and then view it as a long term thing, so I don’t worry when in fluctuates (which it will) throughout the year.

Benjispruce4 · 06/04/2022 09:33

I agree @Girliefriendlikespuppies to my DD £660 is loads especially as she starts university. She was unable to get a part time job for a long time due to lockdown so this will bolster her savings.

Benjispruce4 · 06/04/2022 09:36

I’m kicking myself for not adding to it but they were busy times and we just forgot. I am making up for lost time now and just set up a stocks and shares ISA with some savings that have sat earning nothing and am going to add a small amount each month with a direct debit. Thanks MN wise owls!

MamaSharkington · 06/04/2022 09:45

@canyoutoleratethis

I'll give some recommendations, though to be honest I'm probably a bit off the pulse. I like Meaningful Money (Pete Mathews). He's a UK based financial adviser (and one with full quals) so its based on the right evidence, not just some podcaster with no ethics or expertise. He publishes videos, podcast and transcripts so you can use whichever format you like. He's been going a long time so there is a lot of content in the archives, and his seasons are pretty methodical (it's the spreadsheet lovin FA in him). You'd learn a vast amount just working through his content.

I have seen JL Collins (someone said it above) recommended frequently but not read it myself.

Martin Lewis is good but he very clearly stops short of investment advice.

The Reddit community UKPersonalFinance has a fabulous flowchart for getting your finances in order, and will give opinions on your dilemmas if need help and post there.

The FIRE starter thread in Money Matters on here is good, though been quiet lately, but people will respond if you get it going. It has lots of recommended resources on it if you work through the thread.

Vanguard is often recommended as a provider. I don't know what resources they have for learning though. The founder Jack Bogle basically started the whole thing on the principle of making access to investing accessible to the average person, and low cost. Honestly that man and his contribution to bettering people's lives is underrecognised.

Kreuzberg · 06/04/2022 09:54

Almost £20,000. Put £25 a month in although also added £3,000 from an inheritance.

mizzo · 06/04/2022 10:30

DC2 got £250 it was worth over £1500 at one point but not it's £450ish.
DC3 got £50 worth £150ish.
We've never added to it, we couldn't afford to for years. Now all four DC have money in a trust fund so it's been transferred to that.

MamaSharkington · 06/04/2022 16:43

Sorry, I think I've posted under another name, I'm also Starface

PaperTyger · 06/04/2022 16:55

@MamaSharkington

Totally agree.

Anyone who's doesn't knows about investing should start with a Google of jack boggle, vanguard's founder.
He said, why look for the needle ( individual high performance shares) When you can buy the haystacks. Eg every company in the index or basket's of shares with huge variety of types and countries.

This type of investment is far less risky than putting all your money into say Tesla shares, or Tesco.

And indexes are self cleaning so I buy USA indexes fund and that includes some Tesla stock, but Tesla fails in ten year's...it fall's out of the index fund and is replaced.

Jl Colin's is a jack Bogle fan and explains in a very accessible way why vanguard is so good.

Caveat: jack is sadly deceased And whoever is in charge now may of course eventually steer vanguard away from it's original course.

Kurtanforpm · 06/04/2022 16:56

£900.

I didn’t put anything into it and we had to track it down when he was19.

PaperTyger · 06/04/2022 16:59
  • I hold mostly a range of vanguard fund's for myself and the DC however, I hold them through Hargreaves and Lansdowne because I liked their app and found it easy to navigate.

I also hold what'i call my gamble fund's...smaller amounts invested in more risky things.
I think indexes and life strategy funds are as Safe as stocks can be but put a little in Risker stuff like Scottish mortgage

Kurtanforpm · 06/04/2022 17:01

He was born 2002 so the first. He got the £250 but ex h wouldn’t let us put a penny in, then he left me and I didn’t have a pot to piss in.

When he told ex h about the £900 last year, he send me a text demanding half of it as “half of the £250 the government have at the start was half
mine anyway” Hmm

He’s a fucking millionaire who had never even bought ds a pair of shoes when he was with him without deducting it from the maintenance he gave me (pled poverty, so got away with paying hardly a thing).

Sorry, still bitter.

PaperTyger · 06/04/2022 17:05

Kurt I hope you didn't give any to him that was soley for children and nothing to do with parents

Kurtanforpm · 06/04/2022 17:07

@PaperTyger

Kurt I hope you didn't give any to him that was soley for children and nothing to do with parents
ds laughed at him.
PaperTyger · 06/04/2022 17:12

Oh goodGrin what are people like; so morally devoid

Kurtanforpm · 06/04/2022 17:16

@PaperTyger

Oh goodGrin what are people like; so morally devoid
Yup, that’s my ex!
Minster2012 · 06/04/2022 20:46

What is this child trust fund?

Afewgoodpens · 06/04/2022 21:04

£800

Babyroobs · 06/04/2022 22:27

@Minster2012

What is this child trust fund?
A fund set up by the government for children born between late 2001 and 2011 where the government gave payments to children with the aim of encouraging parents to add to the fund so that young people got a good financial start in life. Many of the young people who benefitted from the funds are now turning 18 and can access the money.
Minster2012 · 06/04/2022 22:46

@Babyroobs ah right thank you. Too early for us!

PaperTyger · 06/04/2022 22:46

^^ But some people invested in stocks and shares and mostly their dc are going to be better off than the ones who just relied on banks savings rates.

Rupertgrintismyguiltypleasure · 06/04/2022 22:53

DS is 14 and when I last got a statement for it, it was standing at £870, we’ve never paid anything in. He’s still got 4 years yet so.... who know what it will be by then.
Dd missed out by a year so we didn’t receive any thing for her.
My sis is 18 this week and hers was standing at £804 or something. I think it depends on the bank your with.

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