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Legal, pensions and money

Grandchildren and their money

(62 Posts)
chrisw Wed 04-Jan-17 15:51:14

Help please.

My 16 year old GS has joined the RAF as an apprentice engineer which is great. He is currently undergoing his initial training and seems to be settling in well. He came home at Christmas and we are all optimistic about his future there. He has been given £500 by the RAF during his initial training. His board and lodging are provided so that is pocket money. Despite the advice of his parents he went into town during his leave and spent £100 on a game which he is not allowed take back to base. He said that he could spend his own money as he liked. In a few weeks time when he starts his apprenticeship he will be in receipt of £1000 net per month.

His parents (of course) will do their best to advise him and to find qualified financial advisers to help him use his money sensibly. Have you any useful ideas?

How far (legally and morally) should a sixteen year old be able to spend his own (comparatively large sums of money) unwisely? What is your understanding and what are your views?

Thanks for any help you can offer.

Jalima Thu 05-Jan-17 18:59:09

chrisw I think they have to be there in the background to support him, ask occasionally how everything is going, can they help him with anything.
But the RAF will become his life now, it's not like having a job down the road and going home every night to your parents' home.
I am surprised that they take them so young!
Although I do know people who joined the Navy years ago at 15.

Jalima Thu 05-Jan-17 19:00:28

I wouldn't give my DC any advice unless they specifically asked for it and then I would be very careful indeed what I said and ask what their OH felt!

chrisw Thu 05-Jan-17 22:36:26

Thanks everyone for your comments.

SparklyGrandma Thu 05-Jan-17 23:17:15

He will learn - the RAF know they have 16 year olds working for them and have a duty of care, plus peer pressure will work postively.

As long as he is left to work it out himself, he will learn how ending up not able to go out if you spend too quickly when you have earned a salary, feels and adjust like most of us did if we care to remember.

A sibling of mine spent their entire uni grant of £700.00 in the first 3 days on a musical instrument, then starved and ended up being sent home with pleurisy. Now runs a nursing team, a home and children.

POGS Fri 06-Jan-17 10:47:58

I think he is showing a maturity by entering into an RAF apprenticeship at 16 and I am sure you are all very proud of him, quite rightly.

I would imagine he is a respectful , sensible type of lad to have chosen the RAF with it's obvious restrictions compared to civilian life and at 16 he has shown he is prepared to accept he will have a certain amount of restriction on his life but hopefully the comradeship and skills he will acquire will stay with him for life and he loves being in the Services.

As parents who love our children I think it is understandable to feel the need to point our children in the right direction but spending £100 on a game is hardly a cardinal sin and he knows that his life for a while will not require too much expenditure on his part so fair enough spend it on something he wanted.

I wish him well and I am sure he will soon have a bank account that will allow him to buy his first car or a holiday with his mates and if he can't enjoy life at 16 then when can he.

Yorkshiregel Fri 06-Jan-17 11:48:18

Just to put your minds at rest, going in to the RAF at a young age is not like 'Get some in' (tv programme). The boys are well cared for, if they have problems there is a Welfare Officer they can go to who will give them all the advice they need. They will not be allowed to get themselves in to any bother. Your son is very lucky, he will have his own room and not have to sleep in a barracks where they used to sleep 12 at once. His meals will be very well cooked and they will also teach them to be independent, showing them how to clean and iron their clothes for example. He will love it. The RAF is not like the Army either, they are not half as strict. Good luck to him, I hope he has a wonderful time, and see a lot of interesting places, although there are not so many overseas postings these days. He will make lots of friends and some will last a lifetime.

Greyduster Fri 06-Jan-17 15:14:20

I couldn't have put it better myself Yorkshiregel.

Jayh Fri 06-Jan-17 16:16:05

Well done, this 16 year old. It is lovely to hear about a young man getting an apprenticeship and a well payed one at that. Good luck to him.

Starlady Sat 07-Jan-17 06:46:54

Yes, it's a substantial amount but it's his, not theirs. I agree with the other posters who said to let him be. He'll learn by his own mistakes. Better now than down the road. I think his parents need to take pride in his accomplishments and worry less about the money.

Jalima Sat 07-Jan-17 10:57:30

It's early days. This £500 (now £400) has got to last him through his initial few weeks.
If he has spent it all by the time all his new friends are going out for end of initial training bash it will make him think twice!

Luckylegs9 Sat 04-Feb-17 08:47:12

He sounds sensible, but at 16 he has to learn his own lessons in life. Trust him, he might make mistakes with his money, who hasn't. I hope as well as working hard, he has a good social life and makes friends, it's a balance only he can find.