JISAs - what did your 18yo do with theirs??

[wobblychristmastree]

Wondering how sensitive or feckless 18 year olds are with any money they get then!

my DC should have around £15k when they get there…eek!

:)

Depending on how much university grant they get, some may be used for uni but I will exp them to get a PT job (depending on course) the rest will be used as a house deposit.

They are both at uni and got about £25k. They are using it to supplement costs but we are not encouraging profligate spending. To be fair despite having full access they are being sensible.

DC had a CTF worth £35K at 18. They reinvested it and added to it.

We gave them money for holiday/bit of a spend at 18 too so they weren’t tempted to do anything other than reinvest the CTF. They did a degree apprenticeship and lived at home for free whilst they did that and we made it clear that saving was expected on that deal (we did some matched saving for a bit too). We talked about money and investing quite a lot at home so they were pretty financially literate at 18, and understood this was theirs to grow for their future…and read between the lines it was a bit of a test.

I had a mild panic about it when they were 14/15 but that spurred us on the financial talk (no idea whether that worked or it was just their personality) - thankfully they were interested.I am still glad we didn’t up the amount (when we started it we put in the max £100/mth as it was at the time and when that was made higher didn’t up the amount) despite how sensible they have been with it. It was enough for a good start - a lot of money but not so much they didn’t feel the need to add to it and grow it.

They will get more when they are older but they don’t really know that. They are very good at budgeting (now renting) - things are pretty tight but they still make sure they save each month as well as have fun. I’m really proud and relieved about how good they are with money and I think this lump sum at 18 really helped with that.

We want ours to use it for their first house deposit