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Original poster

About a third of Child Trust Fund vouchers not cashed. What have you done with yours?

118 replies

Tinker · 17/01/2006 13:27

here

Mine's still in a cupboard.

Whenever I pick up the detials, all too boring to read and complicated for a non-finance expert like me.

Plus, have a 8 year old with no savings to her name - don't like there being a difference between the 2.

What's your excuse?

OP posts:
hana · 17/01/2006 15:45

just invest in anything you can always change it later when you have time to readdd all the stuff

Marne · 17/01/2006 15:51

Put dd's in our loccal bank ( barklays) last year and it has earned almost £20 intrest already, i hav'nt added anything to it as i dont know how safe the money would be.

Meanoldmummy · 17/01/2006 15:53

we agreed dh would bdeal with it

so it didn't get done

presumably I will be sent a reproving letter telling me what happens next

LeahE · 17/01/2006 16:32

We put ours in the Children's Mutual non-stakeholder account - added some additional money and divided it between several of their funds.

MeAndMyBoy · 17/01/2006 16:59

There was a comment made today but a finacial body suggesting that adding to that account is not necessarily the best idea as the money will be given to the child and not you so could just be wasted.

You can set up a seperate account to put money in for you to have a say over ie college fund.

hana · 17/01/2006 18:06

yes but is anyone really going to hand over the money in these accounts to their children when they turn 18 ? dd's is certainly earmarked for education and nothing else. period.

PrincessPeaHead · 17/01/2006 18:08

It is in my handbag.
It runs out on 31 Jan.
I have no excuse except my cynicism.

starlover · 17/01/2006 18:15

hana you don't have a choice! you can't access the money... onyl your child can. and at 18 they can do so, and do what they like with it...

starlover · 17/01/2006 18:16

mine is with family investments

ruty · 17/01/2006 18:26

i guess most 18 years olds will take all the money out when they come of age and squander it.

cod · 17/01/2006 18:26

Message withdrawn

TeddyRobinson · 17/01/2006 18:27

Got ds2's in on the expiry date and ds3's about 3 days before! Ours are with Children's Mutual.

starlover · 17/01/2006 18:27

9i thought if you don't do anyything with it they invest it for you?

Clayhead · 17/01/2006 18:39

put ds's in F&C but absolutely refuse to add to it as I don't like the idea of him getting it to do with what he wants when he's 18, mad idea IMHO.

bossykate · 17/01/2006 18:47

i don't intend to top up at all. i have an equity isa in my name that is the main savings vehicle for their future education.

MeAndMyBoy · 17/01/2006 19:04

That's what we're going to do, my dad set up a baby bond that we add to and that will he his main savings account the CTF will just a nice to have extra.

hana · 17/01/2006 19:46

but I do have a choice, I will be telling dd what it is to be used for
does no one think that at 18 your kids will be doing things that yoiu ask them to do or following yuour advice??

hana · 17/01/2006 19:48

of course we have other savings for the dds not just the child trust thing or certainly hope that they will grow.....but I can't imagine that at 18 my daughter will take the money and do whatever she wants with it, hope I don't raise that kind of daughter

Clayhead · 17/01/2006 19:50

Well hopefully they will but who knows what phase they might be in?

Not worth the risk IMO.

starlover · 17/01/2006 19:53

hana i don't think that's you h asving a choice.
that is hoping that your dd takes your advice. at the end of the day if she decides she wants to buy a car or something with it then she can!

and no, at 18 i hope my ds will be making his own decisions. not doing what i tlel him

hana · 17/01/2006 19:53

sadly we or should I say dd will have to pay interest on the money when she reaches 18 as we won't be in the uk
so another reason not to chuck any extra money in the ctf!

hana · 17/01/2006 19:55

god, at 18 I looked to my parents for advice and welcomed it, I was still in highschool !! HaTE to think that my own dds wounldn't
but won't be putting anyting into it so won't be worth too much ( if she does decide to get a car, haha)

starlover · 17/01/2006 19:59

really? i was the opposite! bit of a rebel really...
i'll be happy with ds spending his however he wants, as long as it isn't on anything illegal! lol

i'd have LOVED to have a bit of cash at 18, even if it was only £250..

flutterbee · 17/01/2006 20:00

I've just got mine as ds is only 9 weeks old and can't decide where to put it. I'm leaning towards a share based scheme but have no idea which is best any tips or advice.

Cabe · 18/01/2006 11:26

Thought filling in the form would be a real pain but have been chivvied into doing it by dp and it was far far easier than I thought... I'm going to post it off today