Using DC's earned money for ourselves?

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To pay off our outstanding debts?

In a nutshell, myself and DH have quite a few things on finance that we are dying to pay off so we can be much better off eacgh month. We have both vowed never to have anything on finance again (we did it in a made rush when we needed things to move with).

Our DC is a baby and a very successful model.

Would we be unreasonable to use his money that earns to pay off some stuff?

I feel sick at the thought. It feels so wrong. It's in DC's own account, and I'd be withdrawing it from there. I feel like it should be his to have put away for his first car, perhaps to help him at university if he wishes to go, perhaps to help put down the deposit on a mortgage for himself.

DH's argument is we have extortionate rent to pay, and that money could make life from month to month a lot easier if we pay off our finance plans.

I think and feel that the whole thing is wrong, but I'm open to be told DH has more sense.

Who is right?

Why have you put your child out to work? I’m really shocked at all this chat about the effort put in for this baby’s career...he’s a baby he shouldn’t have a career. He should be: playing, napping, going out for walks, maybe going to weird music or sensory classes that they for whatever reason seem to like, farms, parks, libraries, playgroup, soft play, baby massage, swimming etc. I know you’re going to say oh he does all that as well but if it’s such a massive burden on you then it’s obviously impinging on his free time. Seriously he did not choose any of this. The above things are normal things that a reasonable person would expect a baby or child to enjoy. I’m not sure a reasonable person would think a baby would enjoy sitting around all day waiting or posing etc. And if you say oh but he does, be aware that you have a massive role in exposing them to different things and shaping their likes. if they enjoyed sitting about, posing and looking at themselves I’d be worried about what I was teaching them. They have their whole lives to work. I put in hard work just looking after and playing with my baby I don’t say ugh she owes me so much I do everything for her, because I chose to have her, she had no say in the matter. The same applies a fortiori to a career you’ve made up for him too.

You could then allow expenses payable back to you for all the above from his earnings, plus an allowance for your time at, say, whatever your rate of pay per hour was before you gave up work to have him.

Seriously? And if she had a child that wasn't photogenic could she send him up the chimneys to earn some money?

FGS. He's not being sent up chimneys - he's sitting around and being made a fuss of. There are rules on how much children are allowed to do in these circumstances. And the way things are in this country for young people (and bound to get far worse after Brexit) I'm sure he'll be thrilled that there's some money in the bank for him when he turns 18. I think the OP Is doing him a favour in enabling him to make some money - it likely won't be possible when he's no longer a sweet baby.
These are not rich parents - they may well not be in a position to help him financially with university costs or a house deposit. Enabling this for him is sensible, in my view.

I don't think op meant £800. Otherwise you'd just pay it off in a couple of months.

If you had care of a disabled adult, would you take their benefits to pay your debt?

Years ago, a friend of my mum’s bought her two grandsons premium bonds. One of them had a big win. His parents divided it equally between the two sons. When the older son got to 18 he sued his parents for the balance. He won.the parents were then told they had no right to take the money out of the younger son’s account. Be careful OP

Just HOW much money is this model baby making?

I think it's fine :)

I want to know would people really lose their homes because they couldn't pay the rent/mortgage when their very very young children have money in the bank just sitting there not earning a great deal of interest.

Dp and I are very careful with money but have in the past because of redundancy and illness have been absolutely broke. Sometimes life just doesn't go the way you thought it would and you have to get through bad patches.

It is not about being crap with money . Everyone is in a position of over stretching themselves if overnight you lose all your income.

Personally I would - but then I've never had much on finance, and in our family if someone needs some money, and someone else has it, then we lend it (and it's always paid back eventually)

I would see it as not paying money to a bank when you don't need to - then the interest you've saved by paying it off early could be split between you and the child - ie. you could see it as the child buying the debt from the bank as an investment.

We've had a floating house deposit in my family for years - as each person wants to buy a house, the money gets transferred around to the next person, who, having saved greatly in interest/mortgage rate can save up to pay it forward to the next person who needs it - eventually it'll end up back at my parents for retirement.

Years ago, a friend of my mum’s bought her two grandsons premium bonds. One of them had a big win. His parents divided it equally between the two sons. When the older son got to 18 he sued his parents for the balance. He won.the parents were then told they had no right to take the money out of the younger son’s account. Be careful OP

Well today any winnings from childrens premiums bonds go straight into the parents bank account or the cheque is written out directly to the parent.

Cant see how that could happen today.

@Cantanker i don't have a problem with the child doing modelling, it's the suggestion his mother should take both expenses and an hourly rate equivalent to what she was earning as she has given up work to facilitate the child's 'career'. If the mother is struggling financially then she should be working not hiring out her child to make money for her.

@Oliversmumsamy the OP hasn't said they are in danger of losing their home, they want to pay off debts they chose to have by financing things they wanted when moving and are now finding themselves left with little money each month after paying them.

Pay off the debt. Replace the money by standing order each month - no exceptions. Live within your means moving forward and prepare for rainy days. Lesson learned.

Do you have a job OP?

I have used my sons birthday money/christening money for fuel etc and then put it back into their account at a later date. Perhaps think of doing the same - use the money and then replace it.

When they are 18 I’m sure they won’t care as long as they have it

NRTFT so I don't know what people have said but when I was a baby my grandparents gave my parents 20k for each of their grandchildren to put in a bank account for when we grow up.

My DF got made redundant and they used to pay off the mortgage. We've never received a penny and have been told that we will get it when they die but I could really do with it now for a house deposit not in 30-40 years time.

If you do it, make sure that you give it back asap

Pay off your debts. Then pay back your child. I expect you're paying exorbitant interest rates.
Your child wouldn't have any earnings if you didn't take him to shoots. I once borrowed money from my child's bank account to pay for my car to pass its MOT. I paid all of the money back, I didn't feel guilty at all. Just do it.

I'd feel very uncomfortable about it.

I’m not sure on the exact details but I have a friend whose child models.
She has to travel a lot for this meaning the mom doesn’t work as much as she could do with. So I think some of the money is taken to cover the time Mom can’t work. Not all of it though.
Probably not the same thing but the savings our children have (we put a small amount each month plus birthday/Xmas money) & I occasionally take from that to buy clothes, shoes etc if they’re desperate & were a bit short that month. I guess that’s us prioritising bills & then other things (like their clothes) come out of that money. We do try to put it back if we can though.

Crikey. My dd1 was a baby model. Not hugely successful but I guess over about 5 sessions earnt 3 or 400 quid. I used it to pay rent arrears as her dad had walked out and left us in arrears and paid nothing ( I was a sahm) .... I didn't want us to be homeless. I've spent that many times over over the years!

Spent that on her I mean

I would consider it morally wrong. I would also consider it unreasonable for the parents to take any kind of 'cut'or 'expenses', given that it is entirely the parents'choice to exploit their child in this way. And to pay it back at such a pathetic rate? Even borrowing just £800 it's going to take almost two years to pay back at the amount you've said you will pay. And if you actually meant £8000, then you are looking at over 16 years and that's before you factor in the interest he could have been earning.

I can't believe the premium bonds story is true - surely not?

Stealing it’s just stealing loads of Americans do this and they always end up during their parents

If you can’t afford how your currently living make changes but don’t steal from your own child it’s very low and I also think people who borrow money from the adult or teenage children are 🙁

The only think o could forgive is when people take the money to put back into the child for example your child is very good at got using winnings ect to buy golf stuff and pay for travel to and from competitions ect