Child Trust Fund

[hels]

Hi...just wondering about the money we recieve for our LO.
Do they automaticaly send you the voucher, or do i need to contact anyone regarding it???
No-one mentioned it to me whilst in hospital, so unsure.
Can anyone advise me????

 

[lauramumof2]

I thought it was an automatic thing. Have you applied for your child benefit yet, maybe that triggers something off or when you register baby.

 

[Sarah&Braydon]

you get it sent to u automatically along with loads of reading info

 

[hels]

Thanks guys!!!
I have just filled out my child benefits form in today, so that might be linked as you say Sarah.
Thanks again!
xx

 

[hels]

Sorry...DOH!
Lauramum not Sarah!! sorry!

 

[Lauz_1601]

once you send your child benefit form you will recieve the trust fund voucher in ther post. Have you also applied for the sure start maternity grant? If you recieve family tax then you are entitlied to it, if you do not recieve family tax credits then apply for them, then apply for the maternity grant

What sort of child trust fund account are you thinking of opening? I cannot decide, a stakeholder account can have a better return but is more risky, a normal savings account is safer but less potential for your money to grow! I dont really know enough about shares!

 

[Layla]

i got Cobys a few days ago, i have no idea what to do with it!!

any ideas?

 

[BubbleOne]

I went into the Nationwide and had a chat with the lady there and ended up opening an Equity Stakeholder Savings Account. Apparantly these have performed better than normal savings accounts over the past 18yrs so we should see a better return if this continues. It is a risk but you can change your Child Trust Fund Account at any point so my advice is just to open something to begin with so that you are earning some interest and then when you have time study it much deeper and then if necessary change it.
Long and technical post

 

You have 1 year to invest it before the government will do it for you. Damiens is somewhere in the house! lol

 

[Layla]

cheers, i will look in to that then.

I feel bad on Charlie and Ethan tho, they didnt get anything like this, i set up a bank account for them, they only have £50 each in there tho.
Coby and the future baby will have loads more so i feel like i need to find £400 from somewhere now to make them all even.

 

[BubbleOne]

Sami - I'll drag you down there kicking and screaming and make you open it
Phoebe wants a rich boyfriend

I have to be honest it is boring opening it but it doesn't take long. They just take all your info and baby's info and they send it off and apparantly you get all the account details and bumf through the post within 4-6 weeks.

 

Sami - I'll drag you down there kicking and screaming and make you open it
Phoebe wants a rich boyfriend

Little miss high expectations eh! Don't blame her though her mum in-law will be skint haha

 

[hels]

Thanks for the advice!
Its hard isnt it Layla, we feel the same with OH son, we have opened him a bank account tho, but he doesnt have the £250 Charlie does.
Lauz both OH and i work, are we still able to apply for family tax credits??
I guess we have some research to do before setting up an account.
Thanks again xxx