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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To give my kids some inheritance to splurge and enjoy?

104 replies

tricerotopsrule · 10/02/2024 10:31

I have inherited some money after a parent died last year. I have earmarked a chunk for my kids for their future (age 16, 15 and 12) but we are about to go for a city break to London and I’m in a dilemma about whether to give them a decent sum of money to enjoy in London and if so how much?!

I want them to enjoy the freedom of being able to buy some things there to enjoy and in memory of grandpa but also don’t want them to get too much and piss it up the wall on nonsense! My dad was a saver and I hear his 'sensible' voice and him shaking his head at me but life is for living and enjoying.

Any advice? I’ve no idea what might be a reasonable sum to give them each for a short holiday. Thanks

OP posts:
bestmoment · 10/02/2024 10:32

a figure would probably be relevant op

£10,000 to blow in a weekend? bit daft!

£250 to blow? no biggie at all

Lammveg · 10/02/2024 10:33

If you're going to so it you can't say you want them to enjoy themselves but also be sensible. If you do it, just accept they'll spend it on whatever they want.

Hoglet70 · 10/02/2024 10:33

Depends how much you were left. A couple of hundred each would make for a fantastic day at that age. I wouldn't give them any more than that though and they would presumably be just as chuffed with much less.

bestmoment · 10/02/2024 10:33

what is your version of a “decent sum of money”

impossible for us to say when we don’t know how much you inherited 😐

bestmoment · 10/02/2024 10:34

My dad was a saver

And you benefited as a result 😂

Duolingo · 10/02/2024 10:35

What does "decent chunk" mean to you? It maybe depends how much you inherited and how much spending money they would usually have access to and if they are particularly frivolous spenders themselves... Maybe £100 as a starting point as a balance?

I'm very sorry to hear about your parent. x

Whatevershallidowithmylife · 10/02/2024 10:35

If it’s within budget I would say £200 each. Remember though- they need to be able to spend it as they see fit! I think it’s a lovely idea.

Nousernamesleftatall · 10/02/2024 10:35

£200 each

Youcannotbeseriousreally · 10/02/2024 10:36

Many factors. How much did you inherit? How long are you going to London for? What are your plans there?

PossumintheHouse · 10/02/2024 10:37

Depends how much you’re talking. A couple of hundred quid? Great, do it. Thousands? Absolutely not, they’re a bit young and probably would piss it up the wall.

Original poster
tricerotopsrule · 10/02/2024 10:38

I inherited around £150k. A large majority is being kept for them for their future, plus some house improvements / paying off bills but I want us to have some fun with it too!

We are going for 4 days / 3 nights to London

OP posts:
worriedgal · 10/02/2024 10:40

If it were us I think we would book some lovely experiences in London that would make it a memorable weekend and let them know that Grandpa had treated them to it and some extra money for shopping.
We had a family weekend away in similar circumstances and everyone enjoyed it and we raised a glass to our family member over dinner.

PossumintheHouse · 10/02/2024 10:40

tricerotopsrule · 10/02/2024 10:38

I inherited around £150k. A large majority is being kept for them for their future, plus some house improvements / paying off bills but I want us to have some fun with it too!

We are going for 4 days / 3 nights to London

Arrange a couple of super, once-in-a-lifetime activities for you all and give them 200-250 quid spending money.

jeaux90 · 10/02/2024 10:40

I'd give them 250 each to blow and my DD14 would probably make a bee line for Kick Game for some expensive trainers. I think it's a lovely thing to do, book a special late lunch somewhere too, you can toast his memory.

CharmedCult · 10/02/2024 10:42

£250 each and they get to spend it however they like, even if you don’t approve (as long as it’s legal obvs).

1stTimeMama · 10/02/2024 10:42

I absolutely would! We went to London last year and did similar, let them loose in the Lego store and they had so much fun! We treated it a bit like Yes Day, if you've seen the film?

bestmoment · 10/02/2024 10:43

tricerotopsrule · 10/02/2024 10:38

I inherited around £150k. A large majority is being kept for them for their future, plus some house improvements / paying off bills but I want us to have some fun with it too!

We are going for 4 days / 3 nights to London

so how much is spare fun money

we can’t give you an idea because we don’t know how much you have setting aside for practical reasons!

Alwaysalwayscold · 10/02/2024 10:44

Some of you are incredibly stingy. £250 each to spend in London over 4 days? Not much of a special treat, that's basic spending money on a trip like that.

Hellocatshome · 10/02/2024 10:46

To be honest I wouldn't give them it just for London, there might not be anything they want to spend it on and they might just spend it for the sake of it.

Before you go I would give them say £250 each and say that it was from Grandad and there's to do whatever they wanted with. Mention they could take it to London if they wanted but they didn't have to.

I have one DS who would spend it in seconds in Flannels on 1 T shirt where as my other DS would save it until he saw something he really wanted.

Fabulousfeb · 10/02/2024 10:47

Op at rhe risk of sounding pedantic I definitely would but.... I would also start them on an investing journey and if you don't already have a junior stocks and shares isa I would open one up with 250 and.... A cash one or normal child bank account with the 4 % interest and then give them 250 to spend.

So.. They can track and see how the money performs at usual set bank interest rates and... They can see how it moves in the markets in cheap index tracker funds.

And they can see how fun and easy it is to spend 250.

I brought merlin gold annual passes as a treat to my family with df passing. Enjoy.

Hellocatshome · 10/02/2024 10:48

Alwaysalwayscold · 10/02/2024 10:44

Some of you are incredibly stingy. £250 each to spend in London over 4 days? Not much of a special treat, that's basic spending money on a trip like that.

Not in my household it isn't. Bearing in mind these are kids so there food, transport and entrance tickets will be paid for by the parents.

Original poster
tricerotopsrule · 10/02/2024 10:48

Probably around £20k is for 'fun money' but that's to also cover a few big holidays we are planning for sometime later.

I've seen 'Yes Day' yes! 😍

OP posts:
PegasusReturns · 10/02/2024 10:49

Yes absolutely go for it - what fun!

In your shoes (assuming they don’t need “basic spending money” because you’re picking up the tab) I’d give £500 and then let them spend it on whatever they fancy although I would build in some specific shops (my DCs destinations of choice at that age would have been Lego store, Selfridges and wherever is currently best for trainers)

PossumintheHouse · 10/02/2024 10:49

Alwaysalwayscold · 10/02/2024 10:44

Some of you are incredibly stingy. £250 each to spend in London over 4 days? Not much of a special treat, that's basic spending money on a trip like that.

Calm down, moneybags. 😂

hby9628 · 10/02/2024 10:50

Yes I would. We are in a similar situation and there's a trip our girls would love to do which is to do with their hobby and we are going to take them and will do the same. Use most for sensible things but also do a few treats.
It's a confusing situation I think....getting the money because you've lost someone you love but I'm sure your dad would want you and your kids to benefit and enjoy it x

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