To ask how much you have saved/aim to have saved for your child when they reach 18?

[Pringleeo]

We have 400 quid so far and dc is 2. Friends seem to already have 5-10k!! This is not possible for us. Is this the norm to save so much? I know housing etc will be crazy in future so I would try and save more but just can’t at the moment

I save £40 per month into their bank accounts (that they don't have control of)

Plus if I get any additional money then I 1/3 it and we each get 1/3 - me and 2 dc

Have done since they was born - so both have differing amounts due to their large age gap - one is 2 & one is 13

We save £100 per month per child (we have 2 DCs) and have done so since they were born.

They will only be grand if they work for their money instead of having it all given to them I'm afraid

£50 each a month. One would likely use it towards uni and the other a car. We’re not planning on letting them have the whole amount at once.

Adding your children to house deeds? This place is seriously wild.

This just isn't true. Often parents spend money at the end of their lives - a very tiny proportion of children in the UK inherit money, even if their parents own their house.

She's more likely just lining her pockets for retirement. It's bizarre she thinks she can take money that is gifted to her daughter for her own mortgage.

She then says "my daughter will have a half a million house in her 20s" but has no plans to give her daughter the house in her 20s. So no. Her daughter won't benefit at all

You're way more likely to need the money accrued in your property in retirement or old age - most people do. Your daughter likely won't see a penny, unless you're planning to gift it to her in her 20s?

Either way it's very selfish to take your daughters money gifted to HER not you, and spend it on your own mortgage. The house isn't hers - and will probably be used to pay for care fees to you.

Nothing. They do have savings though from money given when they were born, and money every birthday and Christmas when they are fortunate enough to receive around £500 a year from various relatives - we always make sure they have some to spend as they like but put the majority in their savings. It’s a good life lesson. Now they’re teens the pots have grown to £7-9k each. I actually don’t think it’s a good idea for them to have huge amounts to potentially burn through with silly decisions when they turn 18. We also do save for their university years to help them as needed.
We would rather spend a little bit more on fun family experiences while they’re young rather than spend less in order for money to go into savings for them. When they’re young adults if they choose to live at home while working then we will charge rent but secretly save it to give to them for a house deposit eventually. So in a way we’re saving for them in various ways but most of it is not in their names.

Our 4 week old already has £5000 in a bank account for him, MIL( as much of a pain in the ass she is) retired from the nhs and received her lump sum and kindly gave us the money to put away for him. Myself and DP are putting away £25 each for him monthly too so he can have a better life than we did when he grows up. Hopefully he'll be sensible and use it wisely when he gets access to the account at 18

We put child benefit into a separate account. And I put £50 a month in an ISA. Mine are close together so it's all in one pot. We'll just divide when it comes to driving lessons etc. I doubt we can fund uni for them the way wages and tuition fees are gowing but it's something. Don't stress about other people's savings OP. Just save what you can. It all adds up

Planning to/have been save around £100/month. But also expecting to pay for DC uni entirely and where we live (not Uk) it will be 100s of thousands. We will likely do this through cash flow rather than savings though as it will not be a lot more than we’re currently paying for school. We are not planning to hand DC a wad of cash for a house etc, if we can help at the time we will. DC is frankly likely due to inherit from about 5 adults (no children at all apart from our DC on one side of the family and not many on the other and a lot of relatives with a lot of money). So honestly not worrying about it much.

Nothing for my kids.

DD17 and DS16 have just under £30k each. £10k each of this was inherited, and the rest was by regular payments to what started as their child trust funds (from the government contribution that children their age got), but the majority of these payments were from my late parents.
They actually have more than us! They don't know. I'm not sure when to tell them. DS is a bit silly and would likely spend it on sweets!

Check and double the t&cs of childrens accounts (and keep yourself updated with any changes). As a building society worker I've seen many a teen blow their money within weeks.

Yes they will find out about the money and there is nothing you can do to stop them if they are determined to spend it

I saved nothing. They’re all doing fine.

Can't understand why people would need to share info on what they might have saved for their child(ren)! I wasn't able to save anything for my 'child' who is now an adult. I raised him alone, worked full time and more to pay for everything (not luxuries) and lived for the most part on an overdraft which is now thankfully paid off 😀

Surely you just save what you can when you can based on your budget. Everyone starts off at a different point....
We save less than 2% of our net pay for the kids, the priority firstly is all the other bills and our other savings.

Ds 14 has £10k saved for him currently.

I have two children. Each of them gets £25 a month into a JISA for when they turn 18, for use on gap year/car/whatever. I also put £100 a month each into a stocks & shares ISA in my own name which will be for uni fees.

Tbf I agree it’s not on using money other people have gifted to your daughter for your own mortgage. It’s stealing from your own child imo.

We have 6 so no huge savings but better than the zero we got saved for us growing up. We put £10 a month in for each where they can't access until 18. I put what we can in a normal savings account, eldest had almost £1k in that when I stopped adding to it at 16 and I aim for the others to have similar.
The way the eldest has spent it I'm glad didn't save more, not much to show for it. Money for us was very tight when we 1st had kids so that small amount was not so small to us, you have to do whatever you can afford to do and never feel bad for not matching what others save for their children.

We have been putting £50 aside for each kids since they were born and we’re able to give them around 10 k on their 18th to help with uni

Please please please, to all those parents reading this who can't afford to even get through the month let alone save....DO NOT FEEL BAD. Mumsnet isn't the accurate reflection of society you might think and there's thousands and thousands of people in your exact same shoes who also haven't saved. Please don't feel you're letting your children down. They'll find their own way even if they don't have a trust fund.

Thanks for asking the question OP, it’s interesting to read how/why people chose to save or not. I do currently save for my baby and toddler (in their names) but this thread has given me some thought as to whether that is a sensible thing to do!

Nothing in his name. We save quite a lot ourselves which we will use as and when we need it. I don't really want him coming into a lot of money at 18.

Edit - I don't want him getting a car at 18 either! Would prefer some more pre-frontal cortex development before he's driving 😂 We're not rural so it won't limit him to wait a few years.