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?

My Dd is 15 and didn't get anything when turned 7. I think it was stopped with the change of government.

@coffeandtwav yeah same. My DD turns 18 later this year and didn’t receive the second £250 as it was stopped before she turned 7.

I remember Working Lunch doing a really good guide to CFTs whilst I was on mat leave. I'm risk averse by nature, but on the back of that guide, I decided to chose a stocks and shares account for DD. It's outperformed a normal bank account by a long way. I'm v grateful to Adrian Chiles!

@coffeandtwav @Spanglybangles Ah ok, thank you both! I thought it was odd that I didn't remember getting anything about the second £250 but assumed I was just being forgetful 😂
In which case it's gone up by £300 in 13 years. Not too bad as a freebie.

I wonder why my 13 YO didn’t get the £250 at age 7? Theirs is currently £303.

Never mind….just read up thread that they stopped it.

My DS got around £25 k
His grand parents gave him generous birthday money and he invested a lot of it

It was income based.

250 at birth

Further 250 at age 1 if family still on low income

Further 250 at age 7 if family still on low income

I put £50 a month in my sons, it was £17,000 when he was 18, he is 21 now and started a lifetime ISA a 2 years ago and has invested £8,000 so far and will put another £4,000 next month, all he spent out of it was around £700

Sitting at 6k. 2 years to go. I've only ever paid in between £10-£20 p/m. The provider has changed many times over the years.

The extra £250 at age 7 was cut by Cameron’s government in 2010. My DC didn’t get it either.

Link that explains the extra payments is here:

https://www.thisismoney.co.uk/money/article-2784904/amp/My-son-turned-7-year-Is-250-CTF.html

Yes, people would have seriously missed a trick there if they went for a Cash CTF rather than a Stocks & Shares CTF.

The risk of equities is much reduced since the investment is over a 18 year time frame. It is almost a no brainer. S&S would easily double the amount invested over that time period. Bear in mind during that duration of 18 years there were many years where the interest rate was almost zero but shares continued to grow due to asset inflation.

We added a small amount to DS but when shares drooped and it lost money we stopped. Also didn't want them getting loads of money at 18. I think DS stands around £800 maybe and DD who I think only got the one payment is about £450. Not really sure. I plan to top up DD's to whatever DS gets next year.

DD has £4000 in hers with just over another year to go & that's just from £10 pm since she was a year old.

Couldn't afford more than £10 & even though her Dad (now EXH) earned a good salary he was extremely tight & refused to add anything to her CTF
(I paid for everything child related such as childminder, clothes & activities & a percentage towards the bills)

I never added to Dds trust fund only what the government put in. When she turned 18 she got £1666.

£380 - we didn’t do much with it after moving it twice. It was a lot of hassle. She has a better value savings account.

Dd got hers in April so 2007 baby. 3800 she got, the statement she got and aligns with pre covid annual statements said it projected £6/7k. I only paid in an extra 35 a month for 2 years then started another long term account for her. The graph shows the plummet in 2020/2021 and it never recovered.

Both of my kids had/have about £3k. I only put in money a couple times, as the return wasn’t great, though in hindsight some return is better than nothing as I didn’t save another way!

They stopped it before my 14yos were born so how did your 13 yo get one?

Its an old zombie thread from nearly 2 years ago. That child is 15 now

Dd is 15 and hers is worth avouy 5.5k now. Started adding £10 per month then it gradually increased to £35 per month over the years. Will up it to £50 after xmas. Hopefully there will be enough for a car when she learns to drive. Or it will go towards university costs.

DDs CTF matured just shy of 10k. She’s put 4k in a LISA and will put another 4k in next tax year. The remaining 2k she will keep back for uni. She has other savings as well that she doesn’t know about yet.

Well that's interesting, I posted in March 24 that dds was worth about 10k..she is 18 on a week or so and it's now worth £12.5k!
Its seems a lot of money for her to receive but she is looking at an expensive Uni city so will come in handy!

My DD spent hers on a holiday with her friends. There was only about £1,200 in it. I’m glad that I never put extra in, but saved separately in my own name or she’d have blown the lot!