MSE News: Church of England proposes school savings clubs

jimjames

Errata wrote: »

Possibly, but parents save every single day otherwise they'd blow all their wages the day they receive them and starve for the rest of the month.

Based on some stories I read here and elsewhere it probably isn't as uncommon as you think.

What might seem obvious to us doesn't appear to be for a significant number of the population when 60% have under £2000 savings and 20% have no savings at all.

http://www.thisismoney.co.uk/money/saving/article-2574646/At-9m-people-not-savings-feeling-impact-low-rates-nest-egg.html

MadMat

At my old school most of the money would have ended up in the playground bullies pockets long before the "bank" opened

colsten

Errata wrote: »

Possibly, but parents save every single day otherwise they'd blow all their wages the day they receive them and starve for the rest of the month.

Are you confusing monthly budgeting with saving? Are you not reading the posts from people who use up their entire monthly income, and more, each and every month?

puk999

Pincher wrote: »

My parents were both university educated, and had fairly high status jobs, but they were useless! If I didn't tell them, they wouldn't have even done a will, and then he went cheapskate, and found some solicitor to do one for £99 (probably saw an ad in the local paper)

I feel really cheap now. I bought a DIY will kit on eBay (branded WHS IIRC), and photocopied it so that my other half could do hers too.

N1AK

bylromarha wrote: »

Saving is just for kids at Christian schools then?

Given church run enterprises access to schoolchildren can be kept to just their schools thanks. We'd be pretty dubious about inviting a charitable 'coca-cola lunch club' into schools to promote healthy eating, anyone who thinks the church is different and doesn't have anything to sell is woefully misinformed.

If it doesn't have religious connotations then I'm sure they'd be happy to do it as a non-religiously affiliated charity instead right...?

N1AK

puk999 wrote: »

I feel really cheap now. I bought a DIY will kit on eBay (branded WHS IIRC), and photocopied it so that my other half could do hers too.

That probably makes a lot of sense if you're younger, have a low risk of death, very simple inheritance needs and/or very little to bequeath; If those things aren't true then the pretty nominal cost of getting a will drawn up professionally are pretty good value. Lack of clarity (both literal and legal) can cause additional distress to those left and can lead to your wishes being misunderstood or ignored.

All the above is said as someone who has a self-written will as I'm relatively young, have very simple wishes (everything to spouse, if spouse is also dead everything split equally between surviving siblings) and have relatively modest assets. I will certainly have a professionally written will when the situation changes.

anon_ymous

SuiDreams wrote: »

We had a weekly savings club in the 80's as well, Money was all deposited in Yorkshire Bank. Once the schools stopped this my Dad carried it on in a different Bank, and let me deposit my money myself in the Bank, while he was doing his own banking.

The money came in very useful for collage and university.

That's the one! We had this in the 90's as well

For some reason my mum transferred me to YBS instead of Yorkshire bank

Personally, if I were a parent, Id probably send money to my hypothetical kid's account via standing orders, but there's no fun in that for the kids!