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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To not be saving child benefit

156 replies

cadburyegg · 05/07/2018 11:52

So we have 2 DC, one 3yo the other 4mo. We claim child benefit for them. It goes into our joint account and helps a little with our daily expenses. I have worked part time since the 3yo was born so it’s helpful.

In laws came over last night and somehow this topic came up. MIL was aghast that we are not saving it up for the children when they are older. We do save for them but only a small amount per month. Her words were “you’re not poor so you should be saving it up for their first car or similar”. Well no we aren’t poor but we aren’t rich.

I thought child benefit was supposed to help with the cost of raising kids not be a saving fund for them? AIBU??

OP posts:
PitterPatterOfBigFeet · 05/07/2018 11:56

YANBU it is to help with raising the child. If you're spending it on luxuries for yourself that would be unreasonable. I think it's a much better idea to spend the money on things that will benefit the kids while they're developing than save for an expensive car when they're 17! (who on earth needs 14 years to save for a first car!).

PinkHeart5914 · 05/07/2018 11:57

My opinion is if you can afford to save the child benefit you shouldn’t be allowed to claim it as clearly you don’t need it. It’s not up to the goverment to provide savings for people, goverment help should be to make sure the child’s current needs are met ( I.e rent, food, clothing etc)

Your in laws are daft

Soubriquet · 05/07/2018 11:57

Nope

We don't. We put it toward bills...you know what the child really needs. A warm house with clean water and electricity is more important right now than a future that could possibly change

anotherangel2 · 05/07/2018 11:58

Child benefit is just that, for the benefit of children not saving for being an adult.

FemaleDilbert · 05/07/2018 11:59

We do save it, but only because we can afford to now. When we couldn’t we didn’t

Roomba · 05/07/2018 12:00

Well mine benefits my kids are they literally wouldn't eat without it. But if I were slightly better off each month I wouldn't be putting it in a savings account for them - it would go on stuff they need here and now before that. I'd not need to claim it if I could afford to save every bit of it.

NewYearNewMe18 · 05/07/2018 12:01

20.70 and 13.70 >mental maths< 34.70, so the thick end of £1800 per annum. Can you afford that sort of a drop in income?

Actually Child Benefit, if you look at the origins wasn't to bring up a child at all, it was to give the woman (principle carer) financial independence. So the fact its now means tested irks me somewhat on principle.

IGiorni · 05/07/2018 12:01

We don’t save it, it goes towards our son’s extracurricular activities.

itchyknees · 05/07/2018 12:01

Your MIL is v unreasonable. And if you were as “not poor” as she says, in all likelihood it wouldn’t be worth claiming anyway. Tell her to keep her beak out.

LookingAtTheStars89 · 05/07/2018 12:02

@cadburyegg. I have a friend who made me feel like the shittiest parent ever when she bragged a few months ago that she'd opened an account to put her new baby's child benefit in so she would have like a lump sum of money when she's 25 Confused.

But, then I sat and slapped myself back into reality lol. The clue is in the name "CHILD benefit" it is money to benefit CHILDREN. If it was meant to be saved away from them as adults, it would be called "Future adult benefit" or something along those lines.

No before anyone bashes me on the head, I'm all for people putting a bit of money every now and then into an account for kids when they are older, it's a nice thing to do.

I personally, cannot afford to put my children's hold benefit into a savings account to lay dormant for 25 years. The child benefit I receive goes on - their clothes/school trips/food/shoes etc - stuff that benefits them lol.

Please don't feel bad that you are using this money in the way it was intended :-)

DowntonCrabby · 05/07/2018 12:09

YANBU the way you manage your family finances are none of their business. We are now in a position where we can save for our children’s futures but that wasn’t the case when our eldest was only 3.

DowntonCrabby · 05/07/2018 12:11

*is none- brain fart!

LoisWilkersonsLastNerve · 05/07/2018 12:13

I save mine to use at Christmas, there are times when I can't afford to do that. It's meant to help children not adults.

Oldraver · 05/07/2018 12:14

I thought child benefit was supposed to help with the cost of raising kids not be a saving fund for them? AIBU??

Yes you're right. I dont doubt there are some who save it but dont think it's the norm.

Tell your IL's to butt out, if they are so keen on a savings account then they could sort that.

Chinnyreckoning · 05/07/2018 12:17

We did save it for the first 2 years... then the car died and it was use the savings or take a loan so savings it was. I figure we will be able to recupe it once the mortgage is paid off in 7 years time.

starfishmummy · 05/07/2018 12:21

I ageee. It's great if you can save some or keep it for the nice things - like Christmas - but it's there to help with the day to day costs of having a child.

Firesuit · 05/07/2018 12:21

I don't think saving for children makes sense, it would be better to incorporate the extra cash flow into your own finances, enabling you to save more, then you could help your children with something you deem sensible (first car, whatever) when the time comes.

Having said that, we do send all child benefit to child trust fund. This was DW simplistic idea to ensure the status quo of who pays for what was not altered by the extra income stream. DD has also received some inheritance from grandparents, so she was destined to have control of tens of thousands at 18 anyway. We'll just have to hope she's sensible with it.

Buddyelf · 05/07/2018 12:21

of course you aren't BU. The point of the money is to help with the costs of raising a child. We don't save ours because we can't afford to but we always make sure it is only spent on something specific for the children be it clothes, uniform, birthday parties etc. You use it how you see fit OP and ignore MIL

GuestWW · 05/07/2018 12:22

I thought that was why it was stopped for higher earners ... it is IMO for raising the children. If you can afford to save it you probably shouldn't have it.

Mummyoflittledragon · 05/07/2018 12:23

We don’t save child benefit for dd as we don’t get it. Dh earns too much. Not showing off btw just trying to illustrate how ridiculous your mils argument is. Its not a governmental saving scheme, it’s to help with child costs and yes, in origin to give the mum independence. Deffo not for the child. What you do with your money is your choice.

Mintychoc1 · 05/07/2018 12:24

pinkheart I agree. Anyone who is solvent enough to save their child benefit shouldn't be getting it. It's meant to help cover the costs of raising children, not provide a little nest-egg for them in adulthood!

mosessupposes · 05/07/2018 12:26

It's child benefit, not grown up adult benefit, of course you shouldn't keep it for later. Do what suits you and ignore MIL.

BlueSapp · 05/07/2018 12:26

YANBU your in laws are totally out of touch, Child benefit is provided to ensure you can feed and clothe your children as they grow up, that's what I use it for and that is its historic reasoning for introducing it.

HairDyedPink · 05/07/2018 12:30

I know many people who seem to save theirs to go towards their holidays.

Unfortunately, not everyone is entitled to child benefit, so it must be nice for those who are whilst the rest of us are only good enough to pay more tax with no help.

ThumbWitchesAbroad · 05/07/2018 12:31

Yes, as BlueSapp says, historically child benefit was introduced to be paid to the mother of the child(ren) as it was money that went directly to her, rather than her relying on their father to pay for food and clothes for them.

Of course some people don't need it - but your MIL is being rather ridiculous to assume that you should be saving it for them.