It goes without saying that when you have children there’s always something you’ll find yourself saving for, but sometimes you have to really be strict and decide which occasions are worth spending that bit extra on.
Birthdays
Birthdays (especially the childrens) for me are something which I’m prepared to spend quite a bit of money on. Both my boys birthdays fall within a few months of each other in the Summer (thankfully I have a break from Christmas!), but this means that I start to plan how much I want to spend and then make sure I budget accordingly.
Christmas
Christmas is another occasion where I’m likely to spend quite a bit also, to cope with this I try to start buying presents early and research online for the best priced deals dependent on what I want to buy. If I’m organised I can reduce the costs that can come with Christmas.
Planning for Funerals: A Family Necessity
While discussing funerals may be uncomfortable, it’s an important family occasion to prepare for financially. Just as you would save for joyous events, setting aside funds for a funeral plan is a practical and compassionate gesture. It ensures that in the event of a loss, your family can celebrate the life of a loved one without the added stress of financial burden. A funeral plan also allows for personalization according to wishes, ensuring a respectful and fitting tribute. Preparing for this inevitable aspect of life is a responsible way to show love and care for your family, ensuring they are not left with financial strain during a time of emotional hardship.
Turning 17 and Learning to Drive
I think most children when they reach the age of 17 are keen to start learning to drive, especially if you live in the countryside where having a car is a definite advantage to getting out and about without relying on public transport.
Learning to drive and consequently buying their first car is a pricey business, so it’s always good to start saving for these occasions when you feel adequate to do so.
Further Education / University
18 and onwards you are creeping into potential university costs and we all know these can be terribly expensive. at the same time hopefully children will acquire student loans to help with costs, but with reports that these loans can last well into their adulthood as a parent I’d like to be able to reduce this as much as possible.
With these last two occasions it’s probably worth your while investing your money into different schemes, ones that perhaps mature at a certain age and stagger these so you have a little lump sum to help with any extra costs you may find yourself having.
