To think Child Benefit goes into the family kitty?

[summerfish]

I was talking to a friend yesterday, and she said that she saves all of her child benefit in a special account, which she will give their children when they are 18.

I have never done this at all! Child benefit goes straight into an account which my husband and I use for family expenses. Also I have no idea how this would work practically, as the first child would presumably get a much larger slice of the pie, owing to the fact that the second child gets less CB! Not to mention, the fact that I have to pay my child benefit back via my self assessment in any year that I earn over a certain amount.

AIBU To think that child benefit is to be used for every day expenses?

It all depends on the families income. We save ours in an account for them and like a pp said the second child will catch up eventually. Some months we don't save it, I usually buy their clothes seasonally so a couple of months out of the year I will use that money to buy their clothes as I buy a lot at once

@summerfish That's only important if one parent earns over the threshold and the other parent doesn't work, though. If you're both working, and one or both of you earn over the threshold, there's no need to claim and then repay Child Benefit.

Ours goes in to the family pot, but if I could afford to put it all away for the dcs for when they're older then I definitely would!

@Bananabread8 it is and it you have multiples you get payment plus a half per child. So for twins you get 420 per month.triplets you get 630 etc! Not limited and not means tested