It’s very important Saving money for your kids future. Before having children, it is normal to spend all salary with things for us. The savings are very small, also because we only have to worry about our day to day. But when children are born this changes, is not it? But do not worry! There are some ways to save money, one of them is spending less on birthday parties. Now, take a look at some tips!
It is always time to start Saving money for your kids future. First of all, set a more modest goal and then make a greater savings effort. The earlier you start saving, the better, of course, but it’s never too late to start.
A good way to do this is to go applying your savings. Open a savings account in the bank. So you can make some monthly interest, which at least prevents the devaluation of money which is normal to happen.
Start Saving money for your kids future
Imagine this, if you save one pound per day since the birth of your baby, which is 30 pounds per month, at the end of 1 year will have saved 360 pounds. I.e. when your child is 18 years old, he will have in his account 6480 pounds. This without counting with the interest accumulate.
Who said Saving money for your kids future wouldn’t worth? In fact, it can be very helpful to you to pay your kids graduation, or to pay their driving license, and so on.
Besides you make a monthly saving, it is important that from an early age instil in children the feeling that he should make his savings himself.
Buy him a piggy bank. He can go putting the money that grandparents give him from time to time, or the money he receives for birthdays, Christmas, Easter, communions and other celebrations that are usual!
If you and your partner effecting the same savings described above, which is not that hard to do, you’ll be saving more than 10 thousand pounds for your child’s future, and this can help a lot, especially when he are older. It will help afford college, that exchange, and even the summer holidays!
If you encourage your child to save too I am sure that these values will rise to close to 20 000 pounds.
Saving money for your kids future can be your lifeboat too. Imagine if you or your partner, become unemployed.
These situations happen more than you think! When you have no children, the thing will be remediating. But when we have children things are not so simple! Textbooks, equipment, money for lunch, for a snack, for the clothes that you have to buy every year and so on.
When you have some money aside, you are also preventing for such an eventuality. We never know about tomorrow, so you must be aware. 30 pounds per month is not so much, and this way you are guaranteeing your child’s future. Saving money for your kids future is the only way to ensure you are not unprotected!