When I was about four years old my dad took me to the bank to open my first Savings Account.....I remember going to the bank and being so in awe of it...A big grand building with lots of men in suits....Each week my dad and mum would add money to the savings account....Only a few pounds per week but it soon added up.....
As a teenager I had a weekend job at some riding stables and got paid £20 for two days work plus I was allowed to ride the horses...It doesn't seem a lot now but considering to have a riding lesson at the stables cost £12 an hour...It was a great deal....I was being paid to ride the crazier horses which no one would ride and loved every minute of it....Well apart from the times when they threw me off and I had to go chasing after them with aching bones....Each week my mum would take half the money off me to save and I had the rest to spend....Mainly on music cassettes and sweets.
When I was 18 I was given the full amount my parents had saved for me and what I had saved to do with what I wanted...It was a brilliant help as I flew the nest and moved in with my then boyfriend....There was enough to help set up a lovely home....
From the age of 18 to when I had my first child at 21 I wasn't the best at saving....I admit I was more of a spender....I liked clothes and lots of nights out but there's nothing like having kids to make you realise how important it is to save....
When my second child was born we came to the conclusion that we needed to seriously save for the girl's future so we set up a savings account....One for Becky and one for Ellie....We add money to each account each week....Sometimes it's only two or three pounds....Some weeks it's more. Every penny counts!
Hopefully when my girls reach 18 years old and we give them access to the account there will be enough money for them to follow their dreams....Whether it be to go to University or set up a home...
My girls both have piggy banks too which they put their hard earned money into which when it's full they get to spend whatever is in there....Yes I pay them to help around the house....Nothing major! They both keep their rooms tidy, help dust, sweep up, empty and fill the washing machine and a fun one for them they get two pence for every pair of socks they match up when we're putting the clean clothes away....
I think it's so
important to teach children the value of money and how to manage
it....My two girls know money does not grow on trees and that to get
nice things sometimes you have to save....
I think it is really important to try and save a little regardless of your income....Even a pound a week equals £52 a year which is better then having nothing saved....
Those savings give you the freedom to make choices and follow your dreams plus you might get a better nights sleep knowing they are there!
In association with Tesco Bank.
What a great example your parents set you and it has obviously worked. You are right, it is really important that children know the value of stuff. and that way they will appreciate them all the more.
ReplyDeleteI always teach my children to earn their money by doing work around the house!
ReplyDeletei think learning to save is a key skill to learn x
ReplyDeleteSounds like you are teaching them about money really well. I used to love having a bank account when I was little, I felt so grown up. Keep up the good work :D
ReplyDeleteIt is so great to be teaching your children how to save by example. My children have their piggy banks into which they put any money that is given to them. It is so important to save and teach them to save.
ReplyDeleteOh yes, fabulous life lesson that's especially important nowadays #PoCoLo
ReplyDeleteNot enough people were taught to save, well done you :) I was allowed to choose where my childhood savings went and picked Lloyds Bank because the money box was a black horse! I still have it and put my coppers in it :)
ReplyDeleteGrace has a piggy bank and we try hard to help her understand money. This is a fabulous post, full of nostalgia :) Thanks for linking to PoCoLo x
ReplyDelete