child trust fund

[mrs h]

Hi everyone what child trust fund account have you gone with?
Im still undecided whetehr to go for stakeholder one or savings?

 

[Princess_Puddles]

Hmm this is a question that is playing on mine & OH's mind, thanks for asking I would love to see what others have chose

 

[Nic'n'Keeley]

i've put keeley's in a nationwide savings account

 

[nathanmum]

ive done the middle one where they invest some of the money.

 

[Em78]

i've put keeley's in a nationwide savings account

snap! we bank with them anyway so we went for their savings option. we wont be adding to it so t wont realy matter.

there was a money expert a while back who was warning of putting loads of cash into anything that is rightfully your childs as soon as they turn 18.

basically he was saying that while we all hope are kids will turn out well, if they do end up with any drug or alcohol problems or even just in with the wrong crowd then you could have saved a heck of a lot of cash (£50 a month would be £10800 buy the time they are 18!) that you would have no control over once they turn 18. any kid with a problem could kill themselves with that kind of money, or just fritter it away on partying and you could do nothing about it.

once we thought about it like that we decided to save seperately so that we can retain control - hopefully he can have some when he turns 18 to get a car or whatever and then more later to help with buying somewhere or uni whatever really as long as its not wasted.

anyway just thought i'd share as it wasnt something we had even considered before. still make sure you open a trust fund with the gov. cash though - its you childs so take it!

xxxxxxxxxx

 

[Hypnorm]

i've put keeley's in a nationwide savings account

snap! we bank with them anyway so we went for their savings option. we wont be adding to it so t wont realy matter.

there was a money expert a while back who was warning of putting loads of cash into anything that is rightfully your childs as soon as they turn 18.

basically he was saying that while we all hope are kids will turn out well, if they do end up with any drug or alcohol problems or even just in with the wrong crowd then you could have saved a heck of a lot of cash (£50 a month would be £10800 buy the time they are 18!) that you would have no control over once they turn 18. any kid with a problem could kill themselves with that kind of money, or just fritter it away on partying and you could do nothing about it.

once we thought about it like that we decided to save seperately so that we can retain control - hopefully he can have some when he turns 18 to get a car or whatever and then more later to help with buying somewhere or uni whatever really as long as its not wasted.

anyway just thought i'd share as it wasnt something we had even considered before. still make sure you open a trust fund with the gov. cash though - its you childs so take it!

xxxxxxxxxx

That is a really negative thing to say and i would consisder that a minority!
What an awful thing to say - so basically he is saying that all kids are going to turn in to druggies! Sorry but i think that was a very offensive thing to say, I know it wasn't your personal opinion, but i hope i will have brought my son up to know about money and decency - but again you never know!

I put Ewans in a nationwide saving account - i dont trust the stake holder ones as you are not guaranteed to get out what you have put in.

 

[Em78]

i've put keeley's in a nationwide savings account

snap! we bank with them anyway so we went for their savings option. we wont be adding to it so t wont realy matter.

there was a money expert a while back who was warning of putting loads of cash into anything that is rightfully your childs as soon as they turn 18.

basically he was saying that while we all hope are kids will turn out well, if they do end up with any drug or alcohol problems or even just in with the wrong crowd then you could have saved a heck of a lot of cash (£50 a month would be £10800 buy the time they are 18!) that you would have no control over once they turn 18. any kid with a problem could kill themselves with that kind of money, or just fritter it away on partying and you could do nothing about it.

once we thought about it like that we decided to save seperately so that we can retain control - hopefully he can have some when he turns 18 to get a car or whatever and then more later to help with buying somewhere or uni whatever really as long as its not wasted.

anyway just thought i'd share as it wasnt something we had even considered before. still make sure you open a trust fund with the gov. cash though - its you childs so take it!

xxxxxxxxxx

That is a really negative thing to say and i would consisder that a minority!
What an awful thing to say - so basically he is saying that all kids are going to turn in to druggies! Sorry but i think that was a very offensive thing to say, I know it wasn't your personal opinion, but i hope i will have brought my son up to know about money and decency - but again you never know!

I put Ewans in a nationwide saving account - i dont trust the stake holder ones as you are not guaranteed to get out what you have put in.

know what you mean hun and did think that at first. but the more i though about it the more i thought that while it was very unlikely alex would turn out that way it could well be just too much money for a kid of 18 to handle - no matter what. i did know kids that only had slight weed problems at 18, i just thought about what they might have done with £10K

anyway i just wanted to share it as i hadnt really considered the fact that we wouldnt be able to have any say in how all this hard saved cash was used. while i would love to think that alex will be able to choose how spends it and that he will make sensible choices with our guidance, the though of him blowing £10k (which could very well be a fantastic start to his adult life) on nothing in particular made me think again.

i'm sure all our kids will have wonderful futures and be the apple of our eyes anyway!

 

[mummykay]

iv put jamies in a savings account, dont like shares and all that cos u might not get back what uv put in or saved!!

 

[Izzy]

I put Finlay's in a stakeholder account with HSBC