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Original poster

Disappointed we didn’t save in child trust fund?

163 replies

Bambootrees · 11/04/2025 22:42

DD is turning 18 and received the letter, she has £559. It was always in the back of my mind but never sorted it out.

We have spent in other things for them and given them lots of experiences, invested in their education, trips, opportunities, etc; but I can’t help feeling disappointed; especially since other friends are receiving letters and their parents have invested/saved.

OP posts:
VapeVamp12 · 12/04/2025 00:33

I know nothing about investing but started putting £25 a month in premium bonds for my son a few months after he was born. He is 5 and a bit now and has £1400 in there. I don't earn a great amount but set up a DD and don't notice it much anymore. I really want him to be able to buy a car or something similar when he is 18.

Kneenightmare · 12/04/2025 00:58

I’d just start putting some small amounts away each month from now on as it adds up much more than you would think. We added £20 a month each to DDs and DS’s CTF and in later years grandparents contributed the same and they had around £11.5k at 18. We talk a lot about finances so I never worried about them blowing the money and both DC have fed theirs into LISAs, up to £4K a year for 3 years so they now have a fund towards a house deposit.

pollyglot · 12/04/2025 01:39

The very best thing you can do for your children is to invest in their education and their childhood experiences. Do not underestimate the value of travel, (not just sitting on a beach, though that has its place), museums, exhibitions, simply time with them to explore and share experiences and thoughts. A childhood rich in knowledge, understanding and parental sharing is a jewel above price.

viques · 12/04/2025 02:12

Pinepeak2434 · 12/04/2025 00:24

I put my sons in shares and I forgot about them until two years ago but I never knew how to move them somewhere else, they are only worth about £800 and my son turns 18 this year. I never added anything to it. He knows nothing about it, so I might remove them and try to build it up for when he is 21. He has a part time job alongside doing his Alevels so I’d rather set up an ISA for him.

I am not sure about this but I don’t think you can move the ctf money as it doesn’t belong to you but to your child. I think there were some issues with parents whose children didn’t have the capacity to sign the paperwork and the parents had a lot of problems getting funds released.

DiscoBeat · 12/04/2025 02:28

It's currently about £4500 for DS17 and we matched it for his younger brother.

blueshoes · 12/04/2025 02:29

Once the child turns 18, the CTF provider will write to the child (well, now adult) directly and will not deal with the parent anymore.

MayaPinion · 12/04/2025 02:49

We didn’t add to it, though we did buy her a car, pay her insurance, and are part funding university. I’d like to hope that’s she would have spent a CTF but there’s no real way of knowing. She could just as easily bought a massive ice sculpture of Justin Trudeau. Z

blueshoes · 12/04/2025 03:05

I don't think we give our dcs enough credit for being sensible with money.

Both my dcs got substantial sums from their CTFs at 18. They also got inheritances from a grandparent. We told them to keep it aside for the deposit for their first home. Neither of them have touched it or bought anything extravagant. The money remains invested.

LiquoriceAllsorts2 · 12/04/2025 03:11

Bambootrees · 11/04/2025 23:16

This is an idea also. What pension did you do? Any advice?

Show quote history

Why not get her to put the 559 in to shares (a global tracker or something like that) and it can start growing now.

itsonlyjoan · 12/04/2025 03:11

Mu daughter got 500 my sons is at 1200 he's almost 17 my 14 yr old he was the last to get it before it stopped he got 50.00 voucher he's currently at 250

itsonlyjoan · 12/04/2025 03:15

Confusedformer · 11/04/2025 23:53

Wasn’t the original amount £250?

in which case it’s doubled?

No I think u get another 250 age 5 my daughter got 400 and something so pretty crap for 18 yrs

Original poster
Bambootrees · 12/04/2025 08:28

blueshoes · 12/04/2025 03:05

I don't think we give our dcs enough credit for being sensible with money.

Both my dcs got substantial sums from their CTFs at 18. They also got inheritances from a grandparent. We told them to keep it aside for the deposit for their first home. Neither of them have touched it or bought anything extravagant. The money remains invested.

That is the thing; she is quite sensible, normally but second hand clothes. She does enjoy a takeaway sometimes.

OP posts:
Original poster
Bambootrees · 12/04/2025 08:33

LiquoriceAllsorts2 · 12/04/2025 03:11

Why not get her to put the 559 in to shares (a global tracker or something like that) and it can start growing now.

Show quote history

Thanks. Need to research this; any you can recommend?

Dh and I are pretty rubbish at this despite salaries not being bad. We only started increasing our pensions later in life; he in his 50s and me also reaching 50. Realising we had too little and didn’t have much time.

Even if we moved it to a stock and share and contributed £10 a month; she probably would have had enough for a second hand car.

OP posts:
Rowgtfc72 · 12/04/2025 08:35

Dds just had hers, just short of £2000. I paid about £300 in when she was a baby and then couldn't afford it and stopped.
She got an apprenticeship at 16 and is earning so we took out a loan so she could buy a car (she's making the repayments) so the CTF paid off half the loan.
I'm pleased she used it sensibly.

You absolutely can get a decent car for a couple of grand, it's the insurance that will cripple. Dd has a black box and it's just short of 3 grand on a 13 yr old 1.4 Adam.

Original poster
Bambootrees · 12/04/2025 08:35

Any website i can recommend to her to look at investments.? Money saving tips, etc?

OP posts:
WhyIhatebaylissandharding · 12/04/2025 08:41

We added to all 3 of our DCs, in stocks and shares. All 3 didn’t blow the money at 18. DC1 used theirs for a house deposit. Other two will probably do the same. All had/have 25k + . Over 18 years there is much less risk in stocks and shares so I’d definitely recommend that for those starting out. Relatively small amounts each month.

DarkForces · 12/04/2025 08:45

I'd be wary of moving it into stocks & shares if she might need it soon. They should be a long term investment as they're a gamble on the market and recently it's been rocky to say the least. Look at the money saving expert website and see what's available. I'd be tempted to try to put in a fixed interest for next year at least as market is so unpredictable

MillicentFaucet · 12/04/2025 08:46

Pinepeak2434 · 12/04/2025 00:24

I put my sons in shares and I forgot about them until two years ago but I never knew how to move them somewhere else, they are only worth about £800 and my son turns 18 this year. I never added anything to it. He knows nothing about it, so I might remove them and try to build it up for when he is 21. He has a part time job alongside doing his Alevels so I’d rather set up an ISA for him.

The CTF provider will write to him just before his 18th birthday and ask him what he wants to do with the fund when it matures. It'll probably be best for you to chat to him first and advise transferring to an ISA. You legally won't be able to do anything with the funds without your son's agreement so please don't try.

minnienono · 12/04/2025 08:47

No trust funds when mine were born but I saved £50 each per month but i controlled the funds, it was used to help pay for university.

MellowPinkDeer · 12/04/2025 08:48

I topped up my older daughters when I moved so she has just over £10k and she is 15. Younger daughter didn’t get one but I’ll match whatever the end total is when it’s her 18th

Hazeby · 12/04/2025 08:50

I haven’t added anything to ours and don’t intend to. I think CTFs and Junior ISAs are the worst products ever.

Cookielover64 · 12/04/2025 08:50

Not a financial adviser! I use the Plum app for small savings and investments, it's very easy to use and has different pots with different risk levels etc and does a good job of making it understandable. Probably only available to over 18s though.

Hazeby · 12/04/2025 08:54

blueshoes · 12/04/2025 03:05

I don't think we give our dcs enough credit for being sensible with money.

Both my dcs got substantial sums from their CTFs at 18. They also got inheritances from a grandparent. We told them to keep it aside for the deposit for their first home. Neither of them have touched it or bought anything extravagant. The money remains invested.

That’s great and I’m sure the vast majority will be the same. However, there is a risk they are not sensible with it and why take that risk when you can just save the same amount in your own name?

AHBM2022 · 12/04/2025 08:55

Sadly hindsight is 2020. My parents never put into my trust fund, so I only got about £400. It stung a bit seeing my friends with thousands in theirs due to their parents, but I was still grateful for the money I had in mine. I’m sure every parent thinks, “ooh saving up some money here so my child can buy a car or their first flat etc” and I’m sure there are kids out there that do. But a majority of them, like typical youths, see the money and waste it. I personally cannot even remember what I spent mine on, probably clothes or something I desperately wanted back then 😂

Original poster
Bambootrees · 12/04/2025 08:56

Cookielover64 · 12/04/2025 08:50

Not a financial adviser! I use the Plum app for small savings and investments, it's very easy to use and has different pots with different risk levels etc and does a good job of making it understandable. Probably only available to over 18s though.

Thank you. Will look at it; she will be 18 in a few weeks

OP posts: