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AIBU?

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Original poster

To ask about your child's trust fund? If you've never added to the fund?

77 replies

MrsMushroom · 31/01/2013 11:43

I just got a statement for DD2 who is 5 in March and found that her balance is over 700 pounds.

I'm pleasantly surprised as we've never been in a position to add to it so this seems quite a decent amount.

How old is your child and what''s their balance if you've not added to the fund?

OP posts:
meadow2 · 31/01/2013 13:53

Fromparistoberlin - All 4 of dds accounts are with nationwide.The isas are in my name and then they are named on it.I have books for both of this and they are 90 day ones.You have to give that much notice to remove,but I never touch it anyway.

meadow2 · 31/01/2013 13:57

Well I can only advise them mrsmushroom.My mum paid out for my holidays and booze money, and I got my first property at 18 so I used my money towards that.They have got 2 accounts so I can do the same as my mum did for me.

Kormachameleon · 31/01/2013 14:12

This reply has been deleted

Message withdrawn at poster's request.

fromparistoberlin · 31/01/2013 14:12

aha, so how many ISA do you have? as I only have 1, and then was unable to open for DC

cheers!!

notso · 31/01/2013 14:14

At the moment DS2 has £52.70 he can spend it whatever he likes Grin

DS1 had one of the more money ones can't remember how much or who it's with, I think it's still under our old address.

DD and DS3 are too old and young to have the government ones. All four have savings accounts which Christening money, some birthday and Christmas money and a small monthly ammount from DH's wage goes in to. None of them have very much though all just over £1000 for the older two and a few hundred for the younger two.

Original poster
MrsMushroom · 31/01/2013 14:15

Korma weren't you sent your voucher? As I remeber, it should have been given to you amongst some other paperwork. They have an expiry date...is there any chance you have it somehwere?

OP posts:
meadow2 · 31/01/2013 14:16

Fromparistoberlin - 2 90 day isas one for each child.I havent got one for me.

Original poster
MrsMushroom · 31/01/2013 14:17

www.gov.uk/child-trust-funds/child-trust-fund-vouchers I found this Korma

OP posts:
Original poster
MrsMushroom · 31/01/2013 14:19

and this

OP posts:
DontmindifIdo · 31/01/2013 14:21

DS's just has the voucher in, no idea what it's worth now.

We've got two savings accounts on the go for him now, one I'm just putting cash my parents give me now and then for him to buy him treats (as they are incapable of turning up here without something as well, he has therefore always just had a treat from them so I save it) and any other money gifts we are given for him, then our 'proper' uni fund savings, that's in our name, just keeping it separate to normal family savings.

ihatethecold · 31/01/2013 14:28

We add to both the kids ctf every month. The eldest has about £3500.
We calculated recently how much we have paid and it has made more money than we have invested that will go towards education/house/car hopefully!

floatyjosmum · 31/01/2013 14:33

We add to dd's each month and the statement came this morning. There is a substantial amount now but hoping that she understands what the money is for (if not I'm hiding the details of it)

We looked at other accounts but wanted it in her name so no matter what we ran the risk of it going on holidays and clothes. Although I'm fairly job secure if I ever had to claim benefits and it was in my name then it would be counted as mine not hers

Kormachameleon · 31/01/2013 14:34

This reply has been deleted

Message withdrawn at poster's request.

sannaville · 31/01/2013 14:42

We are with Yorkshire building as they seem to have best rates around both girls have around 3k age 4 and 9 I will make sure they both get roughly the same, I've added to both

acceptableinthe80s · 31/01/2013 15:23

I add to ds's, not much just a small amount monthly. My parents also used to add to it but now pay into a savings account in my name so the money can be used for school trips etc.
I don't plan on telling ds about it until I see what sort of teenager he turns out to be!

dikkertjedap · 31/01/2013 15:26

There is significantly less in now then I actually put in. Worse investment I have ever made. Lies, lies and more lies.

Scarfo · 31/01/2013 15:28

This might be a stupid question, but how do I track down ds child trust fund?

We got a letter about it, but never bothered with it. I have moved house 5 times since he was born, so no statements received etc.

He's 11 this year, so it's been a while!

Original poster
MrsMushroom · 31/01/2013 15:32

Well scarfo did you choose which bank it went into? If so, you should have been getting statements...if you haven't informed the bank of the adress changes then do so.

If you didn't...then you should look on the HMRC website under child trust fund...the links are above. Maybe write to them as korma is planning.

OP posts:
Crikeyblimey · 31/01/2013 15:35

Ds is 10 and we've never added to his. It satnds at £774.40 right now. Glad we didn't add to it as a couple of years ago it dropped like a stone. He has other savings in a high interest (well, not that high as nothing is at the mo) account and is about to inherit about £15k from my mum's estate. I am cross we can't put this into an ISA for him so will have to look at other tax free investments. This money really has to work hard for him as he can't have it till he's 18 and it will be worth so much less to him then than the same amount his adult cousins have inherited (and had their cheques already).

We had a letter earlier this month saying they were going to pay tue "extra" money in as ds had reached his 7th birthday! He's 10 ffs. I'm quite sure they've already given him the extra but who knows.

Scarfo · 31/01/2013 15:36

No, ex husband just ignored it and did nothing about it and I was too ill at the time to care, so the money was put somewhere of the governments choice.

Will have a on the website, thank you.

Seabird72 · 31/01/2013 16:27

My DD3 has one and she's 9 and the balance is £600 something - have never added to it - been wary after we opened baby bonds for dd1 and dd2 and realised that the money was barely growing so we closed them and lost alot of money that had been paid in - was livid that I had been fooled into thinking they were a good idea because I found the leaflet in the Bounty packs. I wish we could save more for the kids - the money doesn't have to be wasted by them but would have been good to put away for if they could go to uni or maybe driving lessons etc. Are you allowed to name who you have your CTF with so that we can decide which ones performed the best?? Would rather hear from real people who have them than the so-called "experts"

Original poster
MrsMushroom · 31/01/2013 16:40

Yes Seabird I asked a friend who is a banker (I am clueless about this kind of thing) and he told me to go with an index linked one..that's one where the money can change a lot according to stocks and shares...so it may shoot up one year and go down a lot the next but he said that as DD gets older, as she nears 16 or 17 to pull it out when it's high and then move it to something else (forgotten what!) makes sense to me.

I just used the bank that I use an their index linked one.

OP posts:
perceptionreality · 31/01/2013 16:47

I don't know where my dd's are - they are in an account somewhere opened by the government. Anyone know how to find them?

Original poster
MrsMushroom · 31/01/2013 16:54

There's a link above perception apparently the phone number doesn't work now and one poster is going to write in to them to ask.

OP posts:
CointreauVersial · 31/01/2013 16:55

Teaandbourbons - the cutoff date for getting the second CTF payment was if they had turned seven by 1st August 2010. DD2 was 20 days too young.Angry

It's annoying that they scaled it back but then haven't allowed us to transfer to a Junior ISA.

I'm still trying to work out how Meadows came to have so many ISAs.

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