Where’s all my cash gone?!

May 30 • Featured, Saving Tips • 889 Views • 2 Comments on Where’s all my cash gone?!

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.

Amanda 

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2 Responses to Where’s all my cash gone?!

  1. Al says:

    I never cease to be amazed with the cost of ‘activities’ these days! A child’s social life is important and it’s great to get them out and about, especially if it’s helping keep them fit too, but how about more home based activities – baking, painting, ? These cost a fraction of what these clubs and classes cost and can be just as much fun (if a little messier!) Definitely an opportunity to save a few pennies! Al http://www.kitchenmonsters.co.uk

  2. Heather says:

    Oh boy I can so relate! I keep looking at getting a pension fund set up – but the monthly repayments are more than I can afford. After all the activities, exactly like yours, I wonder where my money goes? And where is the bottomless pit which should be giving me the money?

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