Premier bonds

[Daddyred]

Hi, just wondered people's opinions , my mother in law recently send a message to the wife saying she had arranged £50 premium bonds for our daughter and set up. We would get email. Its really bothered me as I dont want people interfering in my daughters future finances , and annoyed she set her something up without discussing. Am I being silly or do I have a point as its really bothered me

Do you understand what premium bonds are? They will have no impact at all on her future finances?!

What are the negative outcomes you are worried about?

My only comment would be that at £50 and for a child’s long term savings, you’re far better off getting a JISA set up.

Not really nope, but its more fact it was wet up in Child's name and the principal of it more then the , what it is

It's awful when people save for your children isn't it? 😃 Are you worried she thinks you can't provide yourself, is that why you're bothered?
The more people who care for your dc the better imo.

It has to be set up in child's name for it to belong to them.... it's a gift. You sound awful.

Ridiculous

Buying PB's for a child is a traditional way of saving that seems to have fallen out of fashion nowadays. I was bought my first ones as a christening present. Everyone I know (and their children, Gchildren etc) has an account and we often send money to go into them.
Normally, the parents would set up the account but as you don't appear to have done so, maybe your MIL decided she would? Can't see the issue myself.

"The wife".....
Was that put in to prompt a response?🤔

Your DC could win a million quid and you're complaining?

🤣🤣🤣

How did your MIL open the account, was she given the birth certificate by "the wife"?

It’s a gift of £50. It might win her a million quid. It will probably over time win her something smaller.

Youre being ridiculous.

You're being ridiculous. It's a £50 gift.

My children have premium bonds purchased by their grandparents. Not a huge amount and they haven’t won anything yet, but we check every month! You’re being very ungrateful OP. These are savings for your child which could potentially provide a substantial return. Can’t believe someone would help them like that. What bastards, eh? 🙄

I’ve just found the Premium bonds certificate my Dad bought for me when I was born many moons ago. £30. I’ve just filled out a form to trace them and see if there any proceeds. I’m not particularly optimistic, but who knows 🤞. Wish me luck!

You can't open a PB account without parents permission.

Is your MIL prone to fraud or was your wife in agreement?

Well if you do. You owe me as I reminded you lol

Is your wife ok with this? I'd start getting your ducks in a row.

It's so very, very traditional - my nan got us premium bonds when we were children, they just sat there winning the (very) occasional exciting little bit of money (back when they sent you a cheque and you got to go to the postoffice to add it to your national savings account and get your bank book updated with the new balance - all so grown up!)

What is bothering you about it specifically?

I buy premium bonds for our GC, had no idea their parents could be upset about it. Please share why?

Grandma has literally given your DD a £50 gift that could win her millions. What possible issue could you have with that?

How embarrassing that you’ve criticised something you don’t even understand.

Have you done anything like open a savings account for your daughter, or is all interference in her financial future banned? She’ll get to 18 and you’ll throw her out without a penny behind her, damn this interference.

I’m completely baffled that you have a problem with this. My DParents bought premium bonds for my DC when they were born. We just thanked them for their kind generosity.

I was gifted a small amount in premium bonds as a baby. In early adulthood, 2 days before my wedding and 3 days after someone wrote off my car, I won £10,000. It was a wonderful, unexpected gift at the start of my married life and brought memories of the long passed but much loved great-aunt who gifted the initial bonds and would have loved to be at the wedding. It also bought me a new car! I was so very grateful and would have hated for my parents to have begrudged it.

It's a gift which means DD will receive a probably very small amount of money when she's older. Why is that so bad? Other people will influence her life in many ways, it's not all down to her parents.

Bloody hell. What exactly do you think will be the impact of your daughter having £50 tucked away? I can tell you if you haven't already worked it out.

Much better bet than the national lottery. At least if your dc needs the money in the future they can draw out the original investment. With the lottery once you've placed your bet the money is gone.