Children & money: 5 fantastic posts
There are so many worthwhile topics that I could cover when considering children and money that it’s hard to keep focused. I’ve decided to bring together a few very different articles here from other UK money bloggers along with one from my own archives to introduce some varied but essential tips relating to kids and money.
Down to business: childcare
Childcare is a big, big deal when it comes to budgeting for families. This post by Emma Maslin from The Money Whisperer discusses the closure of the Childcare Vouchers scheme, and what you should do to make childcare more affordable in the wake of this closure.
Emma has also written a fantastic guest post on Junior ISAs for me this month!
Those of us reading financial blogs like this one would generally agree that teaching children to have good financial habits is important, but what about teaching them to make their own money? When should that even start, and how? Well, Michelle from Time And Pence has written about 7 ways to teach your child to make money.
It’s well worth having a look at her reasons for wanting to teach her son about making money – I’m sure you’ll agree with both her motivations and her methods.
More lessons than just money
Teaching our children about money doesn’t mean simply teaching them about pounds and pence or dollars and cents; it means helping them to learn about the seemingly abstract ways in which money reaches our lives and affects us, as well as the ways that our choices will affect us financially later on.
Faith from Much More With Less has written an excellent article on 10 lessons she’d like to teach her daughter about money, which, frankly, we should all want to teach our children. I thoroughly enjoyed reading this one and so will you.
Teaching your children to cook?
What does teaching your children to cook have to do with teaching your children about money? Well, quite a lot, actually! As Shoestring Jane points out, there are four major benefits to learning to cook, one of which is saving money.
I will admit that I’ve always believed in this, but I have actually fallen behind with the cooking lessons in recent years. Time to sort that out!
Preparing for your kids’ rough times
We all want our children to become independent, but let’s face it: bad things and setbacks big and small happen to us all.
Becky Goddard-Hill has written about saving for her children’s futures, but also adding in the ways that her mother helped her out financially in the past. She points out that whilst we think about the big things that might arise, like a deposit for a home or for renting, there are often smaller things that we might not consider. It’s worth remembering just how our own parents have helped us out and factor that into our savings… after all, there are very few of us who have managed entirely on our own, and even fewer who would expect their children to do so.
Over to you…
Well, I hope you’ve found this roundup of posts enlightening. Let me know what you think in the comments below!