I never realised how important money would be to me until I had children. Don’t get me wrong – I definitely thought money was important as a young singleton – after all, it could help me buy a new pair of shoes, bump up the cheap store brand wine to something nice from Waitrose and make sure my small flat was warm, cosy and well furnished. But now that I have two kids, it seems so much more laden with meaning and much more significant – money can literally buy safety and security for the two little people I love more than anything.

I have been putting a lot of thought lately into my finances. I have never been terrible with my money (a credit check I did a few years ago came out blissfully untarnished, but not quite as good as it could be), but I have never been a fantastically responsible saver, ensuring that my retirement and savings funds are topped up. I think I am probably like a lot of people – modest savings, fridge full of food but not an extravagant amount left over each month (especially when something always seems to come up!).

I realised that my number one priority is my children’s future – I don’t want to hand them the moon on a stick or anything, but I want their transition into adulthood to be a successful and smooth one, and I don’t want them to be plagued with worries about money. There are three main areas on which I want to focus my savings, and I want to get a lot more organised about how I do so. So far, this is what I am thinking:

Education – The education and tuition rates in this country show no sign of slowing down, and some pretty nasty figures are being predicted by the time my kids head off to Uni. I plan to speak soon with a financial advisor at my bank and make sure that I am putting my money in the right places to ensure that their education funds are growing up alongside them. I want to be able to afford any Uni that they are accepted to, without placing any undue burden on their shoulders.

A New Home – I love our house, but I must admit that as the kids get older, our living quarters are starting to feel smaller and smaller. I want my children to benefit from a large garden, a great community and a spacious (but still cozy) home. Saving toward a larger investment is one of my priorities.

Special Events – This last category means a lot to me; I love holidays and special occasions. I want to make sure that my kids get to enjoy exciting holidays abroad, adventurous days out near home and birthday celebrations that leave them full of wonder and glee. Saving up for holidays, vacations and parties is more than a frivolous endeavor – for me, it is important.

Now that I have these priorities somewhat ordered, I plan to carry out a credit check to make sure that my finances are in order and nothing unexpected has cropped up in the past few years. Next up, I plan to make an appointment with a financial advisor in order to get started on this journey and save the required money. I’ll update you as I go!

In today’s financial market I think we are all worried about money and making sure we have enough for all we need. Living frugally is something I have never been very good at but as our children grow older it is something I am determined to try. To make our family money go further but also to be a good role model for our children so that they do not make the monetary mistakes that I have made. Often we learn too late how to look after our pennies, once we have lost many pounds! I think financial education for little people is important, so they know that things cost money, money does not grow on trees and if you take care of the pennies then it will hopefully follow that later you will also look after your pounds!

My Future

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