What’s your earliest financial memory?

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  • Wyndham
    Wyndham Posts: 2,424
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    Maybe not my earliest memory, but certainly a vivid one, and it has affected the rest of my life and how I do things now.

    It was about 1980 and I was about 10, and wanted a camera. I saw one for £10, and asked my parents if I could have it. They said I'd have to save my pocket money for it. Pocket money was £2 per week. I saved every penny of it for 5 weeks, then got the camera at the end. Didn't spend money on anything else, just saved for the thing I really wanted.

    I still have the camera. Really basic, and you can't get film for it anymore. But I have it as a reminder of an important lesson about saving v spending.
  • Exodi
    Exodi Posts: 2,782
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    edited 7 September 2023 at 1:30PM
    Incredibly random but I remember being given 50p pocket money a week for keeping my bedroom tidy and nearly always using it to go to Somerfield (used to be a supermarket in the UK) and buying a two litre tub of their supermarket own brand ice cream for 48p.

    The main reasons being that 1) I loved ice cream, 2) it was fantastic value (which looking at inflation calculators now for around 25 years ago, 48p then looks to be worth about 88p today so it clearly was exceptional value!).

    I'd then sit there at the kitchen table with a spoon and devour the entire tub in 1 or 2 sittings. I remember I'd be curious why my mum wouldn't stop me from eating an entire 2 litre tub of ice cream in one go... and she would tell me that as I paid for it, it's up to me what I did with it.

    That and I think that when I inevitably felt sick after, it would be a self-teaching lesson about greed!

    I don't know why it has stuck with me, but I find it funny that I seemed to be obsessed with 'value' even at a young age, and appreciate the financial teachings of my mother (despite the fact she has always been a terrible spendthrift who I believe went bankcrupt, I expect she wanted different for me).
    Know what you don't
  • I can vaguely remember the man from the Pru who used to come round to collect money. I can also remember my parents selling our garden as a building plot, and with the money we moved house when I was 8. They were really worried about extending their mortgage to £12k! 
    Though not quite the earliest memories, my choice of grand national horse came first when I was 8. Very exciting to be handed 2 pound coins, and I was totally stunned to then be given a £5 note as well!
  • Savvy_Sue
    Savvy_Sue Posts: 45,818
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    I think my earliest memory is that Mum would go to each shop / supermarket and cost everything, before sending one of us to buy what was best value in each place. 

    Then I remember the excitement when Dad got one of the first cashpoint cards! Unlike today, you'd have to go to 'your' bank, put it in the machine, and hope it would disgorge £10 (which you won't be surprised to learn, was a lot of money in those days!) The machine would retain the card, and it would be posted back to you. This saved a trip to the bank in Dad's lunch hour, which was the only other way of obtaining cash (I'm not sure if he was paid by BACS or cheque, but it wasn't in cash). 

    Every now and again, the machine would swallow the card but not give £10. Very irritating!
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  • thorsoak
    thorsoak Posts: 7,166
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    Taking 6d - a sixpenny bit - into school on a Monday morning and getting a National Savings Stamp with a picture of Princess Anne on it to stick in my savings book!   I can't remember how many 6d stamps filled the book before we took it to the Post Office to transfer over to the Post Office Savings Book which was where my birthday postal orders went!  I think that they might have been cashed in when I passed the 11+ and needed a Grammar School uniform!
  • Mrs_Ryan
    Mrs_Ryan Posts: 11,832
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    My first proper ‘grown up’ bank account. I was 18, and it was with the then newly renamed HSBC (my cheque book still said Midland Bank though) I was off to university and my mum told me to choose a bank to hold my student account with. I had a teen account with Barclays but they were a bit snotty and refused to change my teen account to a student account (I had a Visa Electron card and not many places took it) so my mum helped me choose a different bank. (Her own bank, Yorkshire, didn’t do a student account or I would have gone with them) 
    I had a Switch card (remember them?) which was also a £100 cheque guarantee card, a £500 overdraft and I got a free railcard. I also had to pick a branch where I wanted my account to be held and I remember feeling utterly overwhelmed by it all. Luckily the nice people at the bank were really helpful. 
    *The RK and FF fan club* #Family*Don’t Be Bitter- Glitter!* #LotsOfLove ‘Darling you’re my blood, you have my heartbeat’ Dad 20.02.20
  • My mother going around Kwik Save with a calculator and a shopping list. This was in the early-mid 90s and I was young enough to be sitting in the trolley.
  • Having 6d to spend at a fete and agonising over which 2 of the three 3d items I would buy. I still have the little candlestick I bought. Years later it occurred to me I could have asked my father for a bit more, but I feel proud I stuck to my budget, which has served me well since.
    Deal with things as they are, not as they should be.
  • I remember my mum taking me to
    open a post office savings account in the late 1950s
  • When I was 8 I received a letter from my former building society N and P about interest that I had received a year after closing my account. They sent me a shiny new 2 pence coin through the post, only it cost 17p for them to post the letter to me 😂
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