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Author Topic: Childrens trust fund down the drain.  (Read 1547 times)

  • Offline Serious

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Childrens trust fund down the drain.
on: May 24, 2010, 15:10:00 PM
http://uk.finance.yahoo.com/news/spending-cuts-child-trust-funds-axed-tele-fcdcd1695751.html

You all knew it was going to happen. This wont only hit low earners but everyone who will be having babies and those with young children.
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Re:Childrens trust fund down the drain.
Reply #1 on: May 24, 2010, 17:28:14 PM
How is it going to hit low earners? its not a voucher for the parents... its a simple goverment booster for parents
to open a savers account for children.

So to say it will hit low earners is bullsh*t... and I cant see low earners actually contributing much into the childs
trust fund for 18years.. quite the opposite if they had the chance to raid it.
£250 at birth & another £250 when the child reaches 7.. thats £500 - thats not going to make any difference to
anybody over 18 years. Even with interest & then calculate in infaltion, it may buy them an old banger or a cheap
holiday!!!
99% of this money would be blown on clothes, alcohol, or whatever as soon as the kid hits 18.

Give 1000 18yr olds £500 today & I bet it may only be life changing for 1 of them.. the rest will be spent on a good weeekend.
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Re:Childrens trust fund down the drain.
Reply #2 on: May 24, 2010, 18:52:23 PM
Quote from: Eggtastico
How is it going to hit low earners? its not a voucher for the parents... its a simple goverment booster for parents
to open a savers account for children.

So to say it will hit low earners is bullsh*t... and I cant see low earners actually contributing much into the childs
trust fund for 18years.. quite the opposite if they had the chance to raid it.
£250 at birth & another £250 when the child reaches 7.. thats £500 - thats not going to make any difference to
anybody over 18 years. Even with interest & then calculate in infaltion, it may buy them an old banger or a cheap
holiday!!!
99% of this money would be blown on clothes, alcohol, or whatever as soon as the kid hits 18.

Give 1000 18yr olds £500 today & I bet it may only be life changing for 1 of them.. the rest will be spent on a good weeekend.


spot on, it was a crap idea anyway.
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  • Offline neXus

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Re:Childrens trust fund down the drain.
Reply #3 on: May 24, 2010, 19:13:16 PM
Have to agree with Egg.
I would be "Oh wow £500! and go out and buy a new console and some games, or pc upgrade or as egg said a cheap car.
99% of 18 year olds who got it would spend that in a week.
If you want to help 18 year olds sorting out student loads would be a start.
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  • Offline Clock'd 0Ne

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Re:Childrens trust fund down the drain.
Reply #4 on: May 24, 2010, 19:32:57 PM
My nan saved £1 every week for me since I was born, that £1000 went on a cheap banger of a Clio, which was subsequently wrote off within 6 months.

As Egg said, its pretty pointless, certainly not life changing for anyone. Especially these days, you can easily pee a few hundred pounds up the wall on a good weekend bender.
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  • Offline Beaker

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Re:Childrens trust fund down the drain.
Reply #5 on: May 25, 2010, 11:21:31 AM
Im sorry, Im planning on having kids in the future, and I dont see the issue here.  £500?  sh*t, thatll be more like £50 is now when the kids get to 18.  
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  • Offline Dave

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Childrens trust fund down the drain.
Reply #6 on: May 25, 2010, 21:05:14 PM
Quote from: Serious
This wont only hit low earners but everyone who will be having babies and those with young children.


Surely the main people it would hit would be the kids - given that they are going to be paying (in future taxes) for the cost of the debt incurred by the government in funding the scheme in the first place then the scheme is essentially a big waste of time.
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  • Offline Dave

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Re:Childrens trust fund down the drain.
Reply #7 on: May 25, 2010, 21:06:26 PM
Quote from: Beaker
Im sorry, Im planning on having kids in the future, and I dont see the issue here.  £500?  sh*t, thatll be more like £50 is now when the kids get to 18.  


erm no

even in a sh*tty highstreet savings account

interest is generally > inflation
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