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2 children, different savings amounts, what to do?

29 replies

Sausagis · 30/05/2022 13:52

I have two children. My first born was (understandably) given more money as birthday gifts etc to begin with - when child2 came along a few years later they each received smaller amounts.

This is now being compounded by child1 being a saver and child2 being a spender (eg if given birthday money now they are older, child1 would want it put in the bank, child2 will be straight down the sweet shop).

There is a little over 1k difference between their accounts at the moment.

Do I try and find an extra 1k to give to child2 to equal it out, or is it tough love and you get what there is in the account when you are 18 (or whenever)?

OP posts:
ThreeRingCircus · 06/06/2022 17:12

Sharrowgirl · 31/05/2022 09:11

Just wondering who are the assholes in amongst your family and friends who gave the second child less money/gifts?

I think this is unfair. I have a very similar situation with my DC (so have read with interest.) DD1 has more money in her account because two of her great grandparents used to send her money but had both died before DD2 was born.

Also, family may be able to send £20 in a birthday card so do that when you have one child but can't afford to scale that up when you have a second child so send £10 each. I think that's totally normal and reasonable.

Monty27 · 06/06/2022 18:36

I scaled up equally to buy an ISA each DD and DS. DD had a lot more savings as she was 2 yrs older and people were particularly generous as she was born following the loss of my first child. DS followed and was born near Xmas so another reason for less money gifts. Like yours OP, DS spent a lot of his in the sweet shop and on light sabres!
When they cashed their ISAs in I left them to their own devices. DS spent his on skateboarding paraphernalia and some such. DD continued saving.

IncompleteSenten · 06/06/2022 18:41

Don't reward the spender. That's a terrible message to send to both of them. The saver thinks why did I bother and the spender thinks yay, I get to spend and end up with the same amount of cash!

popandchoc · 07/06/2022 21:13

I agree to even out the amount the eldest got when younger but not any money since that they both had chance to spare.
My eldest had inheritance which my youngest wasn't alive to receive so i have been paying extra into youngest to make it fair.

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