Monday, 4 August 2014

Future Proofing Your Child's Tomorrow

This post is sponsored

Do you think about looking out for your children's financial future? Times are tough and sometimes it seems like your household budget is the main concern, of course. But we could also be thinking of savings for our children - just putting a little bit aside every month could mean the world of difference to them when they come of age.
I would love Emily, Alice and Rosie to each have a bit of something put by for when they turn 18. With that in mind we have been putting away small amounts every month for them into their savings. Here are a few things that I have in mind for them to spend it on!

1. Driving Lessons

Do you remember how hard it was to scrim and scrape for driving lessons? I do. I did mine when I was 23, and they were £11 an hour. I don't even know what they are now, and dread to think what they would cost when my girls are old enough to drive. I would like them to use some of their money to pay for driving lessons. I would like them to be independent and to me driving does give them that sense of independence that I didn't have until I was 23.

2. University

I don't think we will be able to put enough away to pay for all their university fees and living expenses (have you seen the cost lately??) But I would like to think that we could put some by for them to put towards their living expense. Even if it's just so that they can afford to go out with their mates or buy university books. I know all too-well about being a poor student, of course!

3. Gap-Year Holiday

Maybe they will want to travel. I would like for them to have some money to go travelling maybe in their gap-year backpacking or whatever they want to do. I never travelled very widely when I was younger - we have plans for the future instead. But if my girls wanted to travel I would love to be able to hand them some cash to help them!

4. Car

Maybe the cash could go towards their first car. Cars are expensive to run and certainly the first year of insurance can be difficult. I'd be happy for my girls to use the money to purchase their first little runaround car!

5. Deposit for House

Maybe the money could be used as a down-payment on a mortgage on a house or a flat. First time buying is always hard and I would love to be able to give my girls a little leg-up should they need it.

I know that I can't make the girls spend their money on what I think is right - at the end of the day it is up to them, but I would like to think that they would listen to my advice and choose wisely!

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