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Original poster

What did you/your child use their matured JISA for?

8 replies

jisachat · 30/07/2023 12:04

If you saved in a Junior ISA (JISA) for your child and they are now over 18, what did they use the money for?

Similarly, if you had a JISA yourself and have now used it, what did you use it for when you became an adult?

My child is still young so a bit far from that decision but curious in knowing how others have made the most of it.

OP posts:
Chasingsquirrels · 30/07/2023 15:03

Ds1 had a CTF, was a few thousand. He put it with the rest of his money, most of which is invested.

calyxx · 30/07/2023 15:23

About to mature and I put extra in (partly to get grandparents to contribute) but I don't know! Would it be reasonable to use it for student maintenance? We always just thought 'save for the future' but no-one discussed what that meant. Ds wants to use some of it to travel. It does automatically go into an adult isa so it's easy to save it.

Blanketpolicy · 30/07/2023 15:42

ds(19) got his at 18. So far he hasn't spent any of it as he is at uni (commuting), gets some allowance from us (£120/month), we paid for driving lessons, and he is working PT enough he could also save for a holiday abroad so hasn't needed it (or a student maintenance loan either).

He has put £8k into a LISA and had the £2k of bonuses. The rest he put into premium bonds, as interest rates were low, and he has been lucky and had over £1k of winnings.

His rough plan for now is to either continue to feed £4k a year into the LISA or perhaps use some to supplement uni loan in later years of uni (his course is 5 years) if he wants to live out.

So no blowing it on sex, drugs and rock n' roll (yet!)

Original poster
jisachat · 30/07/2023 17:17

calyxx · 30/07/2023 15:23

About to mature and I put extra in (partly to get grandparents to contribute) but I don't know! Would it be reasonable to use it for student maintenance? We always just thought 'save for the future' but no-one discussed what that meant. Ds wants to use some of it to travel. It does automatically go into an adult isa so it's easy to save it.

This is what I was thinking as well. Thought it might be good to help with uni fees and/or living expenses. But also wondered if there are better ways to spend it. Like you rightly said, we all subscribe to the "save for the future" mantra but no one discusses what it should be used for!

OP posts:
Original poster
jisachat · 30/07/2023 17:19

Chasingsquirrels · 30/07/2023 15:03

Ds1 had a CTF, was a few thousand. He put it with the rest of his money, most of which is invested.

Do you know if he has a plan for it?

OP posts:
Original poster
jisachat · 30/07/2023 17:20

Blanketpolicy · 30/07/2023 15:42

ds(19) got his at 18. So far he hasn't spent any of it as he is at uni (commuting), gets some allowance from us (£120/month), we paid for driving lessons, and he is working PT enough he could also save for a holiday abroad so hasn't needed it (or a student maintenance loan either).

He has put £8k into a LISA and had the £2k of bonuses. The rest he put into premium bonds, as interest rates were low, and he has been lucky and had over £1k of winnings.

His rough plan for now is to either continue to feed £4k a year into the LISA or perhaps use some to supplement uni loan in later years of uni (his course is 5 years) if he wants to live out.

So no blowing it on sex, drugs and rock n' roll (yet!)

Assuming your DS plans to put it towards buying his first home?

OP posts:
Chasingsquirrels · 30/07/2023 19:48

jisachat · 30/07/2023 17:19

Do you know if he has a plan for it?

Show quote history

Other than making more money, I'm not sure!
Presumably a house deposit in the future.

He gets a full loan and is using that for uni.

Blanketpolicy · 31/07/2023 12:09

jisachat · 30/07/2023 17:20

Assuming your DS plans to put it towards buying his first home?

Show quote history

Yes. Keen to leave us 🤣

His current plan for the 5 years at uni seems to be in the minimise debt / maximise house deposit.

I am guessing he will change his mind as his course progresses, he gets older and might want to live out. He is currently happy with commuting / working PT with a small monthly allowance from us + us paying his car insurance. He is managing to finance regular socialising with new friends at uni, local friends, gym etc all ok.

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