I haven’t even left the house yet and already I’m down £105. Three pounds each lunch money for the girls – make that £7, I’m carrying one from yesterday because she refused to take the last pound in 2ps from the change jar. Add on a £90 cheque for trombone lessons and £8 for after school club for the two little ones.
That’s almost 10% of our day to day “food, petrol, childcare” budget for the month – what those of us raised on sitcoms like Butterflies and Absolutely Fabulous refuse to call “housekeeping”. And as a fully non-paid up member of the Ostrich Generation, who buries her head in the sand when it comes to pension provision, it is exactly the amount of money I should be squirreling away for my old age every month.
According to Friday’s survey by HSBC on family pension provision (The Future of Pensions: the power of planning) 17% of us have no idea how we will fund our old age, and another 21% of us expect to rely on the state pension (cat food on toast anyone?).
So here’s this week’s challenge. Can I, like my friend Vix’s Geordie granny used to do, put one pound for every ten aside for a rainy day? I’ve got the jam jar but have I got the resolve? And am I alone in refusing to see further than next term’s school journey when it comes to financial planning? Let me know by commenting below
Scary statistic of the day
Families with children are still struggling to save any money. According to a survey by insurance giant Aviva, childless couples managed to reduce their debts by £1000 since Christmas, but those with two children are on average £1000 worse off than they were in January and are now carrying debts of about £6.200.
Deal of the day
Waterstones is offering 10% off all book orders over £25 and 3% KidStart savings which will go towards your child’s future. Shop through KidStart.co.uk to find out more.