To use the kids Christmas money to get me through January?

[darkmorning]

In a way I don’t know why I’m asking as I don’t have a choice really, but if the overall consensus is absolutely not I suppose I can use a credit card or something.

PIL gave both children £50 for their savings accounts. I’d have to put the cash in my bank account and transfer to their savings accounts: plan is to do this after I’ve been paid in January. Should I? Or is this just horrible?

Obviously. I remember doing this when my kids were small. It happened because work had made a cock up with my wages and seeing as I to literally was living day to day it mfe things very right

The money I borrowed meant I was able to get them to school and give them lunch money

It was repaid a week later

@Tia86 it’s only because I’m just pondering the question in hand, anything else just isn’t really what I want to talk about.

HAVE YOU TOLD YOUR HUSBAND YOU ARE SHORT?
It's his parents you're visiting.

You can't use their money to reimburse your poor financial planning.

This is not working for you.

Where is your husband in all this is this a secret debt of yours?

Which CC do you have?

She can use her credit card and pay that back at the end of the month. Her kid's gift money isn't hers to take. Also, I said there's no shame, so not sure what stupid point you think you're making regarding that.

I’ve put yanbu but only use half the kids cash if needed. Put a standing order on your account to automatically pay it back when you’re paid. Don’t use your cards. I’d say not to visit on nye but go when you can afford the petrol. The kids will understand and you’ll have saved the cash.

Then give yourself the £100 on the tight time frame. Borrowing my children's savings short term worked for me in those times of "this is my best long term option".

Regarding paying down the other credit cards. Are they all on 0% interest? If not, get them swapped to 0% asap if your credit record lets you. If you are stuck with paying interest, are you chucking as much money as you can towards the card with the highest interest rate and only paying the minimum payment on the other two?

I really don’t want to talk about DH, I get that people do, but I don’t really see why I should have to disclose things that I’m not comfortable talking about.

As for not using the kids money for my ‘poor financial planning’ lol; I’d be fairly rich without them!

Maybe the DH pays all bills and food and has none left over, but I agree she should ask for support from him.

Ok fair enough you don't want to talk about it, but as it's his parents you are unable to afford to visit then I would not go. 'Sorry husband/ex husband (whatever the situation might be), but I am unable to take the children to visit your parents on this occasion. If you would like them to visit then please do take them yourself.'

Our car would cost the same to fill up completely but is a lot less for a work trip, so that would save some money.

Maybe a compromise then of keeping £50 towards fuel and putting the rest in kids savings then adding the rest in Jan.

I can’t unfortunately @Globules , my credit score is not good enough. I do have a plan though so hopefully can sort in 2025.

Thanks @Kehlani ; I thought I had!

No, that’s not what I would do. But you got yourself into this situation in the first place, so no, they wouldn’t be getting it back.

There’s a lot going on here.

you have credit card debt on three credit cards that you’re paying back ; at around 20% interest (at least!) you need to prioritise paying that off before saving monthly into your children’s isas (you said in a post that you save monthly for them. This is admirable but our financial advisor cautioned us to prioritise our debt and savings before the children’s. The interest you are paying may well outstrip what you’re paying into the kids isas).

you then said you didn’t have a mortgage personally. So you and dh rent? Are you saving for a house deposit? If you’re married and have an house but the mortgage is in your dh name as the deeds of the house are in his name only the debt still affects your joint asset.

I think you and your dh need to work out how you’re both going to budget for food and fuel.

Completely unacceptable in my opinion. Use a credit card.

He’d have to take the car though @Tia86 so I wouldn’t have any more money for sitting at home myself. That wouldn’t achieve anything. Anyway, not the point of the thread.

OP you have reminded me I have not yet moved my kids money over. We put the cash they get in a tin which is used for haircuts etc and then transfer the cash. I'm sure there's occasions where the cash gets spent before the transfer.

Also - I've just seen they're preschoolers they won't even know the significance of the cash.

If you pay them back I think it's OK. Could you afford to give them a bit extra as like 'interest' or a thank you?

Just seen it's going into an ISA they can't get until 18, so definitely use it. A couple of months won't make any difference to them. Just definitely don't forget!

Unsurprisingly you are getting a hard time. Mumsnet is weird sometimes. Your kids are preschool so just use the money and pay into their savings when you can.

@darkmorning you need £100 short-term to tide you over. Just do it and transfer the money to the DC ASAP.

Perhaps to cover expenses next Christmas, open a savings account and transfer a fixed amount each month, say £50 to help with Christmas.

Also, can you pick up any overtime to help with the cc debt? Start a side hussle such as taking in a bit of ironing, pet feeding, etc., babysitting?

I think YABU. It’s their money. However I would also:
1)Not be going to in laws. You can’t afford it.
2) Not be saving for the kid. You can’t afford it.
3) You say you aren’t getting back to work till after the NY. I’d be on the phone to the local agency warehouse to see if I could work before then.

I think you’re in a really perilous financial position to have no savings. Listen to some Dave Ramsey,
go Gazelle and get yourself a £1000 emergency fund.

Best of luck.

And sorry to answer your question I would use the cash and transfer next month.