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Originally Posted by vendigirl
We get a government credit of a little over $100 per child monthly. I have been putting that money directly into an ING account for each child. I plan to eventually buy each of them a Mutual Fund or other long term investment with it. However, if I "borrow" some of the kids' money I can pay off the Visa bill by the end of December. It makes sense, but I feel guilty. I'm not sure why since most folks just assimilate the child tax credit into their regular income and spend it. WWYD?
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Actually I agree with another poster. This money you are talking about is yours. You are a good person to give it to your children but this money is a tax break to help offset the cost of having children when your income is low. It is actually not the childrens. But I do think that is awesome that you are doing this for them. You should feel no guilt. The reason a lot of people wait until the end of the year (myself anyway) it is sorta like a savings account. I would spend it if it was in my paycheck. Also it helps to lower taxable income.