Anyone LO made any money on their CTF this year?

[Blah11]

We paid in £280 and it's worth £360

 

[FierceAngel]

thts good to hear hun

luisa has a cash one so thin it only gets intrest.. although it will get a bonus cos weve put the max in iykwim?i say we lol we actually put about 100 in but fam put money in for her christening and christmas inc the intial 250 the goverment put in she has 1450 but dint think will be as much going in next yr lol

xx

 

[Blah11]

Aw Amelie has a seperate savers account too cos I wanted to be able to buy her a bike if she wanted one, or to pay for school camps or anything else she wanted to do before she's 18. We just put £5 a month into her CTF one

She doesn't have 1450 though, wow.

 

[Sarahkka]

Does the government have a granting program to encourage education savings in the UK?
In Canada, we have the RESP (Registered Education Savings Plan), where the gove't matches 20% of your savings per year up to $2500. So if we put away $2500 per year, the gov't will put another $500 into the fund for us.
The money has to be used for education, but it's a brilliant incentive to put money away for LO's schooling.
It sounds like you guys have something similar?

 

[Blah11]

Not sure Sarah as university is free in Scotland and in England it's very cheap compared to America and I think Canada.

 

[Sarahkka]

We subsidize education substantially more than the US does, but the average student in my generation (graduated with undergrad in '97) racks up about $25k in student loans for an undergrad degree.
Estimates are that it will cost somewhere in the neighbourhood of $131k by the time Simon is ready for school.
So yeah, I am very grateful for the RESP program. It helps a lot.

 

[candeur]

Ours made money too We havn't touched it since putting the £250 in there and now there's £350 odd in there!

 

[starbucks101]

no boo i had £500 in ems and its lost about £50... I put it in with HSBC (thinking a multi national bank was a safe bet!) what a mistake that was! who are your's with?

 

[Abz1982]

Oh gosh, I STILL havent done this!! I keep losing the friggin cheques!

I was going to go with HSBC, glad I didnt now!

 

[Blah11]

We subsidize education substantially more than the US does, but the average student in my generation (graduated with undergrad in '97) racks up about $25k in student loans for an undergrad degree.
Estimates are that it will cost somewhere in the neighbourhood of $131k by the time Simon is ready for school.
So yeah, I am very grateful for the RESP program. It helps a lot.

That's disgusting that it costs that much to give your child an education.

 

[Blah11]

Oh gosh, I STILL havent done this!! I keep losing the friggin cheques!

I was going to go with HSBC, glad I didnt now!

Engage Mutual

 

[charlieann]

my LO is very lucky, his is nearly hitting 4 figures. my grandma had a friend pass away recently and saw how things broke down in his family with splitting up the estate that she decided to share her inherentance early and gave every grandchild and gt grandchild £500 each.
we've put it into a cash savings rather than stocks and shares one that his intrest for the year will only be £11, but better than decreasing in value.

 

[Sarahkka]

Woohoo!
Had to drag this thread back up to celebrate!
We just got Simon's RESP statement back and he made a very decent return. Yay!
And then we got back another fund statement from our retirement savings and it's lost money again. Man, at what point do you pull out?
I want to switch our cash over to the fund Simon is in right away, but the stupid funds always nail you with the DSC if you pull out before 5-7 years. Crooks, I say!
Anyway, slightly OT there, but looks like the markets are definitely a lot healthier.

 

[Blah11]

i imagine they'll go up again soon. Its been a hard couple of years for shares