Keeping your head above water in these tough economic times is a challenge, with the let’s be honest, seemingly endless sky-rocketing cost of living, benefits cuts and feeling the vice-like squeeze, well, everywhere actually.
But when you’re a parent, the challenge is far greater. Keeping your children clothed, fed and happy is a daily struggle too many parents have to deal with. Let’s not forget costs for heating, entertainment, school and nursery payments piled on top of that, plus a million other things added on for good measure! That’s without even putting a bit of money by for their futures. When my son was just a few days old, one of his first outings with me was to Lloyds TSB to set up a young savers account for him. The bank manager said Bean was his youngest customer! It’s not an awful lot, but I make sure I put the few pounds that I can spare into his savings account so at least he has something when he’s older and needing to pay for driving lessons, university fees or no doubt a gap year in Thailand – either way, it’s reassuring to know there’s a little tucked away for him.
I think it’s also equally important to look after your own finances and ensure their safety as much as possible. Making sure you do some research, compare current accounts, secure the best you can and even open a bank account online. As that is one of the most basic things we can do to protect our children’s financial present and future.
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