Child benefit/tax credits - what do you do with yours??

[Mrs Doddy]

What do you do with yours? Do you save it for lo,
? Do you spend it on lo? Or yourselves ?

So far I have saved it all for lo and occasionally used a bit to pay for nappies/milk/clothes

 

[Foogirl]

Save it. It's her money and I can balance the budget without having to use it.

 

[sjminimac]

it goes into the pot to help day to day as i've dropped over £1000 per month since going on to mat pay! Once i get my salary back it'll go into his savings account, if we still get it by then of course!

 

[ouchwithNo.2]

spend it, well, I do the tax credits but I save the child benefit - get £136 as we have two kids so they get 50/50 each

 

[MissyMojo]

i plan to save it for lo - gonna pop it ito a savings acc for him, so that when he's older he can afford to learn to drive / uni - or help 2wards it any how,

but i may have to dip into it now and again - im not perfect at juggling the bills

 

[Kimboowee]

Save the child benefit, both working tax/child tax creds go on bills/food etc

 

[Manchester_Lu]

We're not eligible for tax credits.

The child benefit just gets put into the main pot so it's hard to say what it gets spent in. However we do put more than that monthly amount away into their trust funds but it's not a conscious decision that the child benefit has contributed towards this.

 

[Dopeyjopey]

I wish i could save it but i need it to live on! My backdated payment paid my deposit and first month rent on a house and now everything goes towards bills.

 

[special_kala]

I get it in a seperate account and spend it on what River needs that month

 

[mrsraggle]

At the moment we need it to live on but once I'm back at work at least the CB will go into her savings.

 

[freckleonear]

Child tax credits buys our food. Sometimes there is a bit of child benefit left over to buy anything else the children need.

 

[bloodbinds]

CB goes into a savings account, and we live off the tax credits i get as i only work part time! Lol.

 

[RainbowDrop_x]

We live off our TC & CB.. It mostly buys anything LO needs (food,nappies,wipes etc)..Infact I'm not sure we could live without it

I wish I had enough money to just put it in an account and leave it though.

 

[Mrs Doddy]

Ooh I'm glad others spend it too- I avoid it as much as I can tho, lo has more money than we do lol

 

[pinktaffy]

i spend it lol. im a total shopaholic and every penny of it goes on my lo. first it was buying al my xmass pressies for her. now im spending it on new babygrows and pj's and clothes for xmass shes going into the next size so she need a complete wardrobe its hard work all this shopping hehe.
and if i have any spair money i just buy her a toy or somthing each week nothing over expencive like a new rattle or somthing each payday.
our money me and otherhalf have although he is out of work at mo so got none. so its just my money we r living on that goes on bills so without tax credits we wouldnt beable to have all the stuff she has

 

[Foogirl]

I wish I had enough money to just put it in an account and leave it though.

Will you at least get to keep it after 2013?

 

[lucy_x]

ours pays all the bills, OH doesnt pay them ...i save her CB tho.

 

[Celesse]

All money in our house goes into the same pot. Me and OH get spending money per week which is budgeted to include LO's needs. We currently have more going in than we spend, but I'm using the money to first pay off debts and then save up for a house deposit. If some is the money we are able to save is because we receive CTC and CB then our LO is going to benefit from having a house to live in.

 

[ellie27]

We dont get any tax credits.

Child benefit goes straight into our joint account where we pay mortgage/bills/food/clothes etc from.

We save £100 a month for Anna at the moment as we have a 1yr high interest account for her but once the year is up we will still put something away each month but not as much.

 

[Neneie]

We spend the CB as it pays for nappies, wipes, milk etc but we also put £100 a month away into a high interest account so she gets it back plus more anyway!!

Only just got my decision back off tax credits and not sure I understand it!! We got a big lump sum this month and then we get £26 a month thereafter! the lump sum paid her nursery fees this month so that was good! lol the £26 a month thereafter will just into the main pot!