Do you dip into kids savings for a CT?

hiya Tone,

just do it......lol...it's for the kids afterall as well, and your kids being so young, I'm sure that they will still have a little next egg when they're older...

We get money from the UK for our kids each birthday & christmas...we have been putting it in the bank since they were born....last year, we looked at the amount and thought we should do something special, so, we bought tickets to TAS and accomm for a weekend away and the rellies in the UK were rapt that their money paid for a family trip.......and the kids had a ball....and the kids' bank balance is still healthy....

The pros outweigh the cons....trust me, kids have a ball, learn so much, and develop social skills.

cheers

Lyn

Depends what the savings are for. Is it for their education or something important like that? If so don't touch it. If it is so they can buy a car when they get their licence then stuff'em. Buy the camper and let them buy their own cars.

I've got no kids though. No camper either for that matter.

I guess the simple question is, would you feel guilty about using the money? What did you have in mind for it when you first started putting it away for the kids?

How would you feel about it when they are 25 and are trying to scrape together a home loan? Compound interest is a wonderful thing if money is left long enough - it might only be a few thousand now, but in 15 years (dunno how old your kids are), it could be in the tens of thousands, and be enough to give them a real head start. Meanwhile your CT is sitting in the garage slowly depreciating away, and the kids have moved out of home, etc. This country is one of the most expensive in the world in terms of housing affordability, and it's probably only going to get worse - sadly it's a time where *many* people are going to need assistance from their parents for that first step into the housing market.

If you're after some advice, personally, I would leave it alone and keep it for the kids as you originally intended. Caveat on that though - make em wait until they're 25 or older, or until it's for a home deposit - otherwise it will get blown on a car or paying off a credit card. Stick it in a managed fund so it's less tempting to use, and make it clear to the kids they don't get it until it's going to be part of a house deposit (or when they have a baby, or something else worthwhile).

Having no kids (except for my weekend kids) or not being responsible for much, looking after myself is a daily chore, I would say go for it. The money spent now will make for a long term opportunity for the family. If you say no to spending the money, by the time you save more, the CT may well have gone up again.

Enjoy your shopping.....

Ads

The money spent on the CT doesn't evaporate , it exists as a 'capital' item . You are putting in your money , which you can depreciate , and the kids money which you can elect to hold value or even appreciate . For the kids investment to keep pace with the Australian share market allow 8% per year . Their share of the CT would start at the percentage value of their investment , and would increase at 8% per year , compounded . This would mean their share of the CT would double every nine years .

I have not made any allowance for the value of the family camping experiences , and I would rate that beyond estimation .My recommendation is to buy the CT by investing the kids money as set out above .

My thoughts are , Do you REALLY need to spend that much ?

(Bearing in mind I dont now HOW much you are talking about here ?).

How "flash" do you NEED the CT , as against, WANT the CT to be ?

I paid $7500 for a brand new CT , that does almost everything I want of it , and I saved money by building some of my own stuff , kitchen etc.

Maybe its worthwhile to buy the bare bones CT ,rather then a more upmarket one.

I'd have to agree with Flappa on this, you don't need to spend mega dollars on a CT, the budget soft floor campers (ie) Tambo, Caverlier, Dingo, and so on are as good if not better in some cases than the more expensive soft and hard floor campers, always remember price is no indication of quality.

Also second hand is another option.

This way you won't need to dip in too much.

Baz.

Just do it Tonester. Most camper trailers hold their value very well (unlike cars),
so if you buy a trailer today for about $6-8K you can sell it for about
the same money or more compared to what you paid for it 5 years later.

I am in similar circumstances - 3 small kids and a tight budget... Getting
Tamboo Cooper in 2 weeks time.

I agree with Flappa and Redback; I've bought all accessories for the cruiser 2nd hand and saved loads.
Another point is that we never know when we're gonna go. Plan like you'll live forever but live like you'll die tomorrow. If I knew I had one year left I'd buy the CT and enjoy my family. I find the 'one year' idea keeps life in perspective.

Tonester,

For what it is worth, I believe that if you can manage it without any real compromise, do it now.

Just over 8 weeks ago my sons partner died of a massive heart attack leaving him with two young sons.

She was 26yo, a non drinker and non smoker.

Life is short and precious, you would be giving your children something that money cannot buy, quality time with the family.

Regards
Michael B (SA)

Hi Tonester, Tough call this one. If I was in your shoes I reckon I would exhaust every other alternative prior to dipping into your kids funds. We also run various investment / share / education funds for our 2 kids and to me they are as sacred as the mortgage. Personally, I would probably go without the camper as I would be off myself for tapping into the funds. I reckon if you are going to dip into the savings then you really must be sure you will use it regularly – there would be nothing worse than making the money sacrifice and then seeing it sit for extended periods in the driveway – as I am sure many CT’s do. Have you considered spending about $500 on a decent size dome (like the Sportiva Odyssey) and use this for say, 12 months with your current trailer while you save for the CT??? Good luck with the decision – hope it all works out.

Do it ,life is too short to procrastinate over what may or may not happen in the future , .A. the kids will love you for taking them camping .
B. kids grow and the world changes to accomodate them.
C. your kids money ?? where did it come from ?? you !!!

there is one other option we were discussing with friends of ours a cpl of weeks ago.
we were talking about campers and how off road ones are so dear it ocured to us is the 2.5 years we been using different types of c/t there has not been one case where a on road version would make it.
also jimbo has an onroad model and so far hasnt had any trouble.
on road models usually have the same type setups and options but a lot cheaper.
if you do decide to do some real off roading with it maybe once every few years with the money you saved on the onroad you could hire an off road one
cheers.

Hi Tonester

It is amazing just how quickly the kids grow up. A little nest egg would have been nice when we were starting out but the thing that I value even more was the family adventures that we had when we were younger. There is no way that I would trade those memories in for the sake of a few grand in my pocket as a young adult now that I am a parent.

The other thing - Melissa on this forum said to me that their camper was their "holiday house on wheels" - and I loved her point. It is an investment in lifestyle and family time and I reckon that it is a great thing to do with the kids. The money will still be there as campers seem to keep going up in value and you will save money as sometimes things happen and you end up staying in cabins or lodges which costs you lots more money in the long run.

For us it was a great decision - to buy one when the kids are young and do the family stuff and invest in spending time with each other.

Andrew

Do it, you never get this time with your kids again and you are still planning on making a nest egg for them, plus this is for them as well anyway. Our kids have been brought up camping, and still love it, but I have seen older kids who have never been camping before and are now introduced to it appalled at the idea and hate every minute of it.

So get the CT, it's a sellable item, and they hold their value pretty well anyway, so you really won't lose. So go for it....now I am off to dip into my kids savings and grab a slab.

Stuff it.

Buy the CT.

Why do kids need an education anyway . . . its overrated.

Camping is FAR more important.

They certainly will not forget the family memories (and home generated education)but the cash will be like a good red...fun for the moment but quickly forgotten. Build charactor through the CT and really set your kids up for life!! Gosh..they'll all be in their 20's before you know it!!

Tonester,

Not an easy decision, that's for sure.

My 2 cents, maybe inflated :)

Your kids are this age ONCE. They apparently enjoy camping just as much as you and SWMBO. You have very few opportunities to spend real quality time with your kids doing something you all enjoy. Why not do it in some sort of comfort.

In later years I'm sure you will all spend a lot of time reminiscing about your adventures in the great outdoors.

Do it, and make other arrangements regarding the nest egg. The education and experience you give them at this early stage of their lives cannot be bought in later years.

Regards

"The question: Is it worth it using their savings long term? From those who may have been here before, and either done it, or didn't and wish they had, or vice versa, etc."

The simple answer is yes, Yes, YES! Do it and stop beating yourselves up about it. The conditioning and life experiences which they have with mum and dad in "their" camper trailer will far outweigh anything that money can buy when they are young adults. Contrary to what some people may try to preach to you this precious thing called life is not a rehearsal for anything else, you only get one go at it. Live for NOW - it's a gift - that's why it's called the present!

Tonester

There would be many people reading this thread who took children camping with the bare minimum of kit and thoroughly enjoyed it.

However with three children, camping should be easier to do with a camper trailer (ct). But they do come in new and second hand and in various price ranges.

It sounds as though the 'children's money' could also be the only money available in case of emergency from the odd, unanticipated event.

A compromise could be the best way. It is possible to get a ct while still keeping the 'reserve' where it is and smallconcessions on the trailer could save money that is sorely needed some day soon.

It is easy to talk yourself into over-commitment. Frankly I'd go back to the start and decide on the bare minimum from the word go. With cts and caravans it is very easy to ramp up costs for little gain. A cheap trailer will do 99% of what the top of the line will do if you take things a bit slower over corrugations.

If you keep extra money on your pocket doubtless more essential things will come along. They always do.

EV700

Tonester,

Been thru that stage - my 4 kids are now in their early 20's. My thoughts are that you'll be wasting your money on a Camper Trailer.

Mine went camping from the time they were toddlers until they were teenagers. Once they became teenagers they had better things to do. They only wanted to go away if their friends could come; They had their own interests and travelled Australia doing all sorts of neat stuff - from choir to sport to R/C car racing and lots of other school type trips. Our camping gear was then in mothballs until they left school.

So I'd spend your extra cash on other stuff - if you need education money, then go for it. After that spend money on their interests and hobbies - get them that guitar and amp, or electric whatever, or that snow trip, overseas trip or whatever.

And once they are on their way in life, spend it on yourselves.

Cheers
Phil

It's only money and there's all next years salary you haven't even touched yet.

Hi Tony,

Tough call. My suggestion is that you don't use the kids as the excuse to get the camper. They don't have a choice whether they go camping or not - they get to go when you decide you can be bothered to go through all of the hassle. If YOUR decision to go will be made easier by having a camper then buy it. If you follow this logic then it's your camper - your money.

OTOH, if borrowing the money means that because of the repayments you can't afford to go camping then that's the wrong outcome. That leaves the option of using the kids money. The fact that it's been in an account for a few years doesn't make any difference to its value - it's worth what the daily balance is. As long as you put it back at some point with the interest it would have earned (compounded and all that) then absolutely nothing is lost. The trap is using the kids money and saying "Congratulations, you're now the proud part-owners of a secondhand camper" does put then at a small disadvantage.

What did I do a few years ago? I went out one slow day at lunchtime and bought a totally refurbished 1986 Cub Drifter for $3800 on my credit card (after talking with my wife!). The kids love it but they also love a tent. My wife and I prefer sleeping above the ground and having everything ready to go. We use it on average for over 30 days a year which we never did (or would now do) in a tent. Most of the camping places we go are free or very cheap so compared to motels for the same length of time it's paid for itself many times over. As someone else has said - it's our holiday house.

It's all too easy to look at life as just a long business transaction - gotta save/invest/plan/educate/endow/etc - and forget to enjoy! Find the money, buy the camper! If you use the camper you wont miss the money but everytime you don't go camping because the last time in your $1500 tent setup you got rained out/slept on a wet floor/kids were cold then you'll certainly miss the camper.

Adrian

Bottom line, CTs (up to $15k) hold there value and will sell without much effort. If you change your mind after a few trips you'll get a large proportion of the money back and will have given kids some great life experiences.

Ted

My 2c worth.... ( and I must admit to not having read every reply!)
but I did read and agree with Roachie's comments........

It seems that we are having this conversation a lot lately.... recently with my SWMBO's sister! Education is a wonderful thing, make no mistake, but life education is just as important. Both our boys are bright enough at school without giving the Dux Judge any cause for concern... ;-) but we have been taken to task about pulling them out of school for holidays etc over the years. The boys are now 15 and 12, next year we are taking them to Cameron Cnr and the following year Cape York. (My 15 year ol is adament he is coming with us, saying that it may be the only chance he gets at going up there.... at least "cheaply"... LOL...)

I had struggled with justifying taking them out of school for a long time, until I attended a school luncheon at my youngest son's classroom a couple of years back, his teacher told me she had been so enthralled with the stories that Nicholas had told her about our trip to Fraser island that she booked herself a holiday there! That confirmed for me that the trips away were worth it! Theres NO way he would have remembered what he learnt at school in that time in a great a detail as he remembered the Fraser Island trip. That will stay with him forever!

So I would say that in your case, your kids will get far more enjoyment over the years from the CT that their savings are contributing to, than just about anything else that few thou' could buy!!!

Hi Tone
Some good replies on here, food for thought or loss of sleep if you look at it that way. LOL.

My Dad built a camper trailer and we had tents also when I was young, all thats beside the point though, the best part of it all was the memories that I still carry to this day about the places we went and the adventures we had as a family.

My biggest thrill today is revisiting some of those places with my kids, they love the stories of where we went and what Grandpa & Nana did with us as kids.

My kids love traveling, I do it on a more sophisticated basis today in better vehicles, more gadgets etc than I did with Mum & Dad but the basics are still the same, "Quality family time" they grow to fast so enjoy them whilst you can as you don't own them you only have a lend of them in this life.

Final comment, You can ALWAYS make more money, but you can't make more time.

I think you know what you need to do, just do it.

Cheers

Leave the money alone and Tent it. Kids will camp in a shoes box won't have any memory years latter on how they slept but on the time with mom, dad and the adventures. CT is more for your confort and how nice that can be, don't buy what you can't afford could be a long time sitting in the drive way. Just an opinion!

Go for the CT, the life experiences learnt while travelling far outweigh classroom education.
I travelled UK and Europe for 12 months with the kids then aged 6 and 8, They progressed to the next year of school when we got back, and then they went on to Uni.
I am a sole parent, and everything they have they have worked for themselves.
What most kids want these days is the one thing they don't get....parents time.......what better than giving them that time around a campfire under the stars.