Child benefit

[seahorsescanfly]

What do you do with the standard child benefit you're entitled to?
Do you use it towards something? Save it?

Ah, right. Rather a lot otherwise!

Yes, I thought that "it" in

"After rent/utility bills we have approx £25k left and was thinking of putting it in savings for DC"

referred to the 25k

I put £10 away each month in a savings account for each child. Planning to give it to them when they are 21.
The rest goes into a savings account and I use that money for school uniform, clubs, Christmas. Doing it this way, helps me budget.

Dcs have it. They take in turns each month to have all of it. Has been done that way for 18 years

We're not eligible since it became means tested. We didn't need it so just put it into their savings accounts.

UC, child benefit, DLA, carer's allowance, student finance/grants etc just goes all into one pot for me. I don't separate anything

All in household pot but i do pay for sports/clubs and save a small amount for the DC monthly so i guess it helps with that

Wow, are you sure you don’t have to pay it. back or are you one of the lucky couples that both earn 49k 🤣 ours went on essentials (and still would) but now have to pay it back if we didn’t opt out

I would put £10K in pensions & £10K in ISAs & £5K in immediate access savings for emergencies or travel. Try to utilise your own pension tax reliefs/ISA allowances first before investments for your DC. For DC, £100 pcm in a JISA is a great start if you can afford it.