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    Child Trust Fund

    I was just wondering if any parents are in a similar situation to myself?
    I have a Child trust fund for my 5 year old girl.
    I have not invested any money into it as of yet, only the £250 the government gave us to open the account.
    The account was opened in October 2005 with the £250 and as of today it is worth a massive..............£215.50. WTF
    Any other parents in the same boat?

    18 Comments

    Banned

    Yep - is rubbish!!

    its al lnked to stockes and shares i believe, so theres no garentee that you'll get out what you put in
    stupid or what

    sig1169;8596135

    its al lnked to stockes and shares i believe, so theres no garentee that … its al lnked to stockes and shares i believe, so theres no garentee that you'll get out what you put instupid or what



    only if you picked that type of account. you have a choice..

    Banned

    I wasnt aware of a choice allthough admittedly i was that up to my eyeballs in nappies and sleepless nights when i sorted it i didnt even look! The woman at lloyds tsb told me all the accounts were the same and that it didnt matter who you set it up with.

    Banned

    Mine for my 2 year old was opened with £200 I think and it's now worth £380 odd.

    nope they are definitely not the same, our kids accounts are with Yorkshire building society and are savings accounts so guaranteed to go up with interest but not as much as if shares soar. But guaranteed not to go down, obviously as it is just a savings account:)

    fairysel;8596074

    Yep - is rubbish!!



    And that initial £250 cost you how much exactly?

    Banned

    Ours is significantly higher than what we put in, as we have been adding to it every month.

    Banned

    midlandscomics;8596305

    And that initial £250 cost you how much exactly?



    Nothing, i think its great that the gov has given it to everyone. My comment was about it going down - admitedly my own stupid fault for not doing more research into types of accounts

    i havent got this as my sons are older but is it me or is this just a waste of money....what is the aim...i really dont get it. it just seems to be giving money away. Dont understand why the government would do it. can someone enlighten me...is it just a way of trying to get people to save money. I cant see that working as people will either save or not save. am i missing something.

    Banned

    Goofeys Girl;8596373

    i havent got this as my sons are older but is it me or is this just a … i havent got this as my sons are older but is it me or is this just a waste of money....what is the aim...i really dont get it. it just seems to be giving money away. Dont understand why the government would do it. can someone enlighten me...is it just a way of trying to get people to save money. I cant see that working as people will either save or not save. am i missing something.



    It gives all children upon entering adulthood some money to hopefully use responsibly. It encourages parents to save for their child's future. It's a decent scheme which, like all schemes, can be abused or misused.

    Banned

    Goofeys Girl;8596373

    i havent got this as my sons are older but is it me or is this just a … i havent got this as my sons are older but is it me or is this just a waste of money....what is the aim...i really dont get it. it just seems to be giving money away. Dont understand why the government would do it. can someone enlighten me...is it just a way of trying to get people to save money. I cant see that working as people will either save or not save. am i missing something.



    It's to help strat them off a nest egg, so yes encourage saving. But those who will save will do so anyway, those who won't or can't afford it won't.

    So I think it should be scrapped tbh.

    The stocks and shares ones havent lost any money....yet.

    Remember, your daughter is only 5 so she cant get it now, so no loss has actually been made yet - equally if up in value now you havent made anything as cant get at now

    Dont worry about it.

    mine just have the original amount of money in there..nowt added..

    i'm just gonna forget abt it till the kid is 17.5yrs old and then give a monkeys abt its value. no point to stress abt it beforehand..

    Ours is rubbish too - 4 year old has went up by £20 or so and the 2 year old is just the same, even though OH had been paying in something every month.

    Reading some of the comments everyone needs to remember these are long term investments

    The only important dates are the when money goes in and when money comes out - if the shares/fund higher in value when ends you make money - everyhting inbetween is irrelevant

    The short term thinking is whay so many people lose money on stocks and shares investments themselves

    Dont worry - it cost you nothing!!

    richardcotton;8597581

    Reading some of the comments everyone needs to remember these are long … Reading some of the comments everyone needs to remember these are long term investmentsThe only important dates are the when money goes in and when money comes out - if the shares/fund higher in value when ends you make money - everyhting inbetween is irrelevantThe short term thinking is whay so many people lose money on stocks and shares investments themselvesDont worry - it cost you nothing!!



    the problem is if you are adding to it each month on the hope of putting something aside for your little one and you lose that too, then that will really suck.

    Would a better bet be to open a seperate saving account and put into that then you don't have to worry about the CTF.

    badgerrules;8598062

    the problem is if you are adding to it each month on the hope of putting … the problem is if you are adding to it each month on the hope of putting something aside for your little one and you lose that too, then that will really suck.Would a better bet be to open a seperate saving account and put into that then you don't have to worry about the CTF.



    yeah thats definatley what im going to do this time....... i was given the option with my little girl born 2006 an i decided too do it with the shares..... i put money in every month. no idea what the balance is as i have never heard a thing since!!
    My new little lady that was born in feb im gonna do with fixed interest and open savings. bit safer i think!
    its fab though, great to know they got a little something when they are older, might not be worth alot by then but its better than nothing!!!
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