Child benefit saving

misstealeaf

Registered User
Messages
91
Any advice on saving child benefit? 3 kids been saving in the childcare plus account each month with a view to using this when kids are adults for house deposit/education etc. The way the account works is that 12 months savings are invested for 5yeara. The first of the 5 year savings is maturing at end of the month. Any idea on what I should do for best return? Or better ways to save the monthly amounts in the first instance.
 

brio09

New Member
Messages
1
Curious what did you go ahead with? my son is a year old and I'm trying to understand what kind of account can I create for him so that his grandparents can gift him money (each <3k) without us getting charged gift tax CAT.
 

imalwayshappy

Registered User
Messages
132
Spend it on the kids. Do activities with them (when covid allows). They will probably get inheritance from you when you pass on so that should be enough. You can't get the years back when they become adults so spend it on them now and focus on building memories as opposed to investments. Just my 2 cents. :)
 

jim

Registered User
Messages
643
focus on building memories as opposed to investments
Hate this type of "two cents"
OP, im sure, is building memories with kids.
Question is re investment strategy for specific source of income.

Personally, i lump all income sources including child benefit, into 1 basket and then spend/ invest accordingly from that basket.
 
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