Do u save for your kids?

pukkamum

Spendless wrote: »

I won't be giving out any money in a lump sum, but there is money available that's been saved that will meet costs that they come across when they move from child at home to completely independent adult. Niece had to borrow money from us for example last year as she started her PGCE as student finances hadn't come in in time for her


But surely learning that you have to earn, budget and save money is the most important lesson a child can learn when moving from adult to child?
If money is handed out for every cost they meet they never learn financial independance?
My mum was always there to help us out of a hole in an emergency but it was always a loan with a repayment plan.

Spendless

pukkamum wrote: »

Spendless wrote: »

I won't be giving out any money in a lump sum, but there is money available that's been saved that will meet costs that they come across when they move from child at home to completely independent adult. Niece had to borrow money from us for example last year as she started her PGCE as student finances hadn't come in in time for her


But surely learning that you have to earn, budget and save money is the most important lesson a child can learn when moving from adult to child?
If money is handed out for every cost they meet they never learn financial independance?
My mum was always there to help us out of a hole in an emergency but it was always a loan with a repayment plan.

The money isn't going to be handed out for every cost. I will have say over what it is spent on. But it is their for their future when it comes to covering more expensive costs. Car insurance for example was nowhere near as expensive as it is nowadays when I learnt to drive.

btw how much money did your husband get at age 23? I would not have a problem with what he spent it on. A car is almost always useful, without one I wouldn't have been able to go for higher paying jobs that were further afield and I wouldn't have had a problem with a holiday either, that's assumming he didn't blow the money on a mark2 jag.

morocha

Well, i do not save for my children, mayb a cultural thing but neither did my parents and i never expected anything. I do, however believe in giving them experiencies, we travel a lot.

bargainhunter82

in my opinion, all and any saving is good. do what you can afford and do it consistently. it's not about how much you do, it's the fact you do it! it'll all mount up and be very welcome to them at the end