I probably am bu and very nosey but...

[Ciggarettesuffragettesandboys]

Aibu to ask if you put money into an account regularly for your DC? If so how often and how much?

Me and DH put money in monthly (£40 each) and one of us thinks this is a good amount and the other doesn’t. I’m totally aware that it comes down to circumstances and income but just looking to gain some perspective really.

I do £10 a month per child and £10 a month into their CTF. They have no idea of the existence of any of these accounts. Which gives me time and space to think about how best to give it to them when they’re older, depending on their life choices, Uni, job, house, whatever.

My folks have accounts for the grandchildren and pay £5 a month to each.

50 euro per child per month into savings accounts that don't get touched (but may do if a very expensive and enriching experience comes up). Then some money into their current accounts - 10 euro/month each for the older two and 5 euro for the youngest (who is only 3 - she'll get 10 too when she's aware of money). That's half of pocket money for the older ones - they get 10 each a month in cash too. We need to move over to an allowance system really as they are teen/preteen now.

Mine only get birthday/Christmas money in theirs, we can't afford to pay in monthly. The idea being it can go towards a car or something big they want once it matures.

We do what others do and put in the child benefit. Only have 1 child at the moment so hoping we can continue the same way if we have another. Christmas/birthday money go in too at the moment as she is too young to spend it.
It's in a junior ISA and she won't have access until 18 (and after reading this thread may not know about it for a while after depending on what sort of character she is!) I'm hoping it will be a house deposit or something useful.
My parents did the same and I still haven't touched mine.

My grandparents saved for me, I had access when I was 16 for
Driving lessons and I blew it all on crap.

I had always assumed that my parents had not been able to save anything and it wasn’t a problem. Until we brought our first home and realised on moving in that we really
Needed a new kitchen. My mum then told me I had 3500 saved! I was so grateful she had held off giving it to me at a young age.

£125 a month split between a couple of different types of account

We save 15 per month, per child, in their names (although I'm slightly worried about that now)! Must investigate pension schemes for them.

My mother promised me and Dsis £1000 each when we got to 18. I'm the oldest so got there first. She dished it out in dribs and drabs, on request, looking more and more angry each time. She made such a fuss when it got up to £300 (a third of what she voluntarily promised, please note) I stopped asking for the rest. Dsis, OTOH, demanded her full amount in one fell swoop, got it and blew it in about 3 months. DM apparently didn't mind. I'm not bitter, honestly.

Whatever you do, just do the same for both; best way to live!

To reiterate another poster.

If you are claiming tax credits or UC you may have access to the government Help to save scheme. You can save a maximum of 50 a month, but at the end of year 2 you get 50% back on the highest amount you've had in the account, and then again at the end of year four.

So if you have done the full 50 for the first 24 months, you have 1200 and get a bonus of 600 on top. you can also withdraw money at any time, but obviously that would affect the bonus amount

Hope this helps :)

No. Nothing.

However DS is now 20 and away at University. He has a student loan and maintenance loan. He only gets the minimum maintenance loan however, which covers his rent, so I send him money to live on each month.

I used to put DS's child benefit into his savings account.

It's very individual, depends what you plan to do with the money in the future? Give it to them once they turn 18, university fees, for a car, house deposit, wedding?? If I could afford it I'd save enough to pay for one or more of the big expenses they'll have in the future

We opened an account for each of our two children with 250 when they were born and save 80 for each of them per month. Gift money also goes in until they are old enough to want to spend it.

£30 a month for each child.

We save £30 each per child per month, we have 3 dc. So £360 a year, we use £240 of that to pay for Christmas and birthdays and the rest isn’t touched.

I'm only just setting up an account for DS (12). My DF says he'll put in £10 and I'll match it, that's on top of pocket money which will also go in there. In total DS stands to make approx £35 a month (providing he earns full pocket money, which is dependent on him doing What a asked of him).

£30 per month for each DC.

Birthday money & Christmas money always goes in but now DC1 is 9 for the past two years we've put half of the money received in the bank and the other half to spend on xbox games

Like your op clearly stated, it comes down to personal circumstances. Not sure how knowing what others do is helpful when you don't know if their circs are the same as yours.

We have 1 dc and so are able to put £100 a month away in their account.
When they get money for birthday/Christmas gifts half of that goes in too.

Newer version as also stated it’s also me being a bit nosey. People don’t have to answer if they don’t want to.

£10 a month but I pay for school lunches and Mobile phone and give £10 a month pocket money. He doesn't spend any and is minted ...!

Save £80 a month for DC and usually add any money that people
owe me in to that account.

A good amount is what you can afford to put away, which will help them in the future.

Child benefit plus £25pm from GP and any ad hoc money he gets for birthday or Christmas. When DC2 arrives the child benefit will be split equally, they will both get £25pm from GP.

The amount we saved for ds(14) varied depending on what we could afford. We had 3 small inheritances of around £8-15k each and each one we put 1/3 into ds's account (the rest was used for the mortgage). Also any surplus Xmas and birthday money when he was younger and didn't need much.

We've stopped saving now as there is in excess of £27k and will be just over £30k after interest when he is 21 which is plenty!!!!

Any savings are now for my, hopefully, slightly early (at 60 when it should have been!) retirement!!!

We don’t do regular savings. I saved their child benefit when we still had it and that is now in an ISA. We put birthday / Christmas money in an account for each of them.

However, we did buy a second property a few years ago that we rent out. That gives us flexibility in future. They could live in it (2 bedrooms) or we could sell it and divide profit between them. Or we could sell the family home and me and DH could downsize to that. I would live there like a shot!