Hot Debates

I know, its late to comment, but I had to..

I don't have CS.. but I do receive a Child Tax Benefit.  This goes into my kids bank account.  I pay for everything relating to my kids out my own pocket, because I chose to have them.  That is their money and I have no right to use it.  Of course, they won't know about their account until absolutely necessary :) I can say for a fact that I would do the exact same with any CS money as well.

But, that's just me :)

Hi :)

Years ago when we still got the child tax benefit, we used it towards their expenses to help me be able to continue being home with them.

It wasn't their money to do with as they pleased later, in the sense that the government deems it a reduction of our income taxes in order to help "with the cost of raising children under age 18", but to each their own :)

http://www.cra-arc.gc.ca/bnfts/cctb/menu-eng.html

We did the same with the disability tax credit (which is a direct tax reduction) in re: to the disabilities of one of them.

http://www.cra-arc.gc.ca/nwsrm/txtps/2009/tt090209b-eng.html

I'm curious about why you wouldn't have used CS towards their support, given that both parents are responsible for them and CS reflects that reality.

I probably didn't state it properly.. the money is being used for them.. it's in a bank account for their schooling :) My mom is our day care (she threatens disownment of me if I put them into "regular day care" lol) and refuses to take money. 

As for actual CS, I put it this way.  Happy or not, marriage is not guaranteed forever.  As my DH has his own issues one of them being employment, one of the things I *seriously* considered prior to having kids is, if it came down to it, can I do this myself?  So I factored everything in ... and I can.  They don't do without, but if something is short I do.  This money from the government (which I honestly didn't think I'd qualify for, except for the Harper hundred) is a bonus, which gets tucked away into a savings for them.  The little bit that I get wouldn't allow me to stay home with them, so it doesn't really apply.  It's Kind of like getting a raise, but continuing to live on your current salary.  That being said, knowing my husbands issues with employment, I wouldn't always be guaranteed to get CS from him either. 

HOWEVER..don't think I'm in denial.. this is all based on current conditions.  *IF* mom decides she can't handle the little buggers anymore, or something happens to her, and they need day care, I have money tucked away to pay for that (I'm looking at $2k a month right now).  If I lose my job I have money to buy everything they need til I get back onto my feet.  BUt, if everything stays the same, then they have money for school, if they choose not to go that route, then their wedding, or a down payment for a house..

Hope that clarifies things :)

~My mom is our day care (she threatens disownment of me if I put them into "regular day care" lol) and refuses to take money.~

That's wonderful!

~As for actual CS, I put it this way. Happy or not, marriage is not guaranteed forever.~

That's for sure :)

~As my DH has his own issues one of them being employment, one of the things I *seriously* considered prior to having kids is, if it came down to it, can I do this myself?~

Understood, and a good thing to consider regardless, ita.

~The little bit that I get wouldn't allow me to stay home with them, so it doesn't really apply.~

I didn't mean that you should be home in the first place, just to clarify :)

We threw ours into the pot as it's a tax credit as it was actually ours and meant for us to use along with the rest of our funds (some of which we saved for education :) and it helped me be home which we'd agreed to when adopting the youngest (special needs).

In the end, we've both done the same sort of thing, saving some of our incoming funds.

~HOWEVER..don't think I'm in denial.. this is all based on current conditions.~

I don't :)

 I pay for everything relating to my kids out my own pocket, because I chose to have them. 

So thier father didnt have anything to do with making them? And he shouldnt have to pay anything for them?