Saving for children

richard.millington82

Hi,

My wife and I recently adopted two children (aged 2 and 1) and my thoughts have turned to saving for their futures. I'd be grateful for any advice, tips people have for this, bearing in mind we also need to have funds for a rainy day and the current cost of living. Saving even more seems impossible atm, but I really feel its something we need to do.

Thanks in advance!

HampshireH

For now I would concentrate on the here and now. Enjoy them, get to know them and don't worry about saving just yet.

It would be different if you had said you have x spare cash every month and don't know what to do with it. Personally I wouldn't put that burden of finding cash to save on yourself just yet.

You don't want to lock away funds you cannot touch that you may need in the future.