How much is your gov Child Trust Fund?

[Newtonianmechanics]

My daughter is in y11. 15 turning 16.
I haven't invested much in her trust fund as I was unsure her having loads of money at 18 would be useful.

It is worth about 5k now. My dd says her boyfriends is worth £600.

She says some of her mates families have no idea about it.

Guess my Aibu is can't believe some families don't know where there £250 is?

About £5.5k, year 12.

How do you find out? My daughter has one and they recently sent me details of where it is held but doesn't say how much it's work and are you able to transfer to an isa they already have open

Id forgotten about it actually

i've never been able to add anything to it, so probably about £243.74

I think it was about 800 last I checked.

I didn't add to it but we did get the extra 250 due to being low income.

We did invest in our DS one. He has nearly 70k. He didn't know we had saved for him, so in parallel to telling him we helped him move it to a hard to access/several months notice account. We will shortly be sitting him down with an IFA to plan whether it should go into a pension, be a house deposit, or some other long term mechanism.

His sibling has nearly 40k with 4 years to go. We will do the same for him.

This tells you how to find an old dormant one if you've lost track.

https://www.moneysavingexpert.com/savings/reclaim-child-trust-fund/

DD is 15. Her DGP’s put a grand in as a christening present and that’s it. Now worth £4900 so I’m hoping perhaps enough for a little runabout at £18.

My eldest who received his payout a couple of years ago got just under £8500 and my youngest, who's in year 12, has got about £7000 so far.

We deposited £10 per month for each kid.

Thank you Gordon Brown.

My Grandson turned 18 last summer.. a month before he received a letter about it .
He took it to his bank and they sorted it out for him.
My daughter didn't add anything to it and it was £1300

Eldest is 15 and it's £24k

Youngest 11 missed out so we've been saving into a junior ISA and she's at £14k

DD had hers when it was the higher amount given by government and had about £2.5k when she turned 16. DS has about £500 in his as we didn’t add much after the first year but he has an ISA we opened for him with £20k in which will go toward Uni. We did the same for DD & she has put the £2.5k trust fund into a LISA to help her on the property ladder

Tahank you @BertieBotts
I lost all the details of my child's when I moved out when I split from her dad.

Does anyone know if it's worth me putting extra into this as she has a very small pot of money gifted or should I look at a junior ISA?
Everyone seems to have such different amounts

Approx 13k and DD is 17.

Can you REALLY not believe it, OP?

The challenges some families go through, the disfunction, the educational and social disadvantages...

And you can't believe that some people don't know where a possible letter or piece of paper sent to them 16 years ago might be?

Hmmm. #SmugStealthBoast

My daughters is worth £467 and she’s 18 in two weeks! My sons £430, he is 17 in a few weeks!

DD 18 didn’t have much, around £1300 and I’m glad because she is not at all sensible, has gone off the rails a bit and it would be wasted.
dd 10 has about £600 in an ISA and I’m really reluctant to save for them because I’m not rich by any means and I’d be devastated if I managed to save 10k or something and they got to 18 and wasted it, which I imagine they would.

We didn’t add and it’s £467, daughter is 18 in a couple of weeks so you may be surprised 😂

DSs is sitting at £1800 and I've never put a penny into it. I have saved elsewhere for him for uni but not into that one which I probably should have.

Why are they so different in value? IsIt because some people have removed the money and put in a different account? How did it work?

Do you know where its been saved and the interest rate or whether its stocks and shares?

If just in a bank account I'd look at what's giving best interest rate and any management fees they charge and then decide on what's giving best return...the CTF account or the ISA.

My youngest (21) still hasn't cashed his but was worth just shy of £2000 last time we received a letter. We never added to it. He really needs to cash it.

I believe that if you have steadily been contributing over the years, by age 17, a stocks & shares (S&S) CTF is easily be worth 5 figures, or even 6 figures for higher contributions.

That is the power of compounding. Shares have also surged over that period as a result of quantitative easing and US tech companies growing so spectacularly. If the S&S ISA is in the right investments, the increase in value is quite phenomenal, equivalent to property investments IMO.

£7k. Just turned 18. Now moved to an ISA.

He’s 16 and its about 40k
I averaged paying in about £250 a month
it’s the only thing I’ve ever saved! Supposed to be for university, but I doubt he’s going now so will put it away for house deposit maybe. I also can’t see him ever moving out 😆