{"id":3486,"date":"2011-10-04T11:58:20","date_gmt":"2011-10-04T10:58:20","guid":{"rendered":"http:\/\/79.170.44.80\/livingwithkids.co.uk\/?p=3486"},"modified":"2017-06-12T16:51:22","modified_gmt":"2017-06-12T15:51:22","slug":"so-many-things-to-save-for-so-little-cash-to-go-around","status":"publish","type":"post","link":"https:\/\/www.kidstart.co.uk\/blog\/so-many-things-to-save-for-so-little-cash-to-go-around\/","title":{"rendered":"So many things to save for, so little cash to go around!"},"content":{"rendered":"I am indebted to my old college mate Chris for spotting a piece of research which shows that it\u2019s far better to focus all your efforts on saving for one thing at a time rather than trying to spread your cash over several different goals.\r\n\r\nAccording to the University of Toronto\u2019s Rotman School of Business people who focus on saving for one specific goal, for example their children\u2019s university fees, are far more likely to be committed to actually putting money aside for that one thing than those people who tried to save for their children\u2019s, education, their own retirement and the proverbial rainy day, all at once.\r\n\r\nThe reason, according to the researchers, is that trying to focus on more than one goal means that we end up dithering over which is more important and end up not committing to any of them.\r\n\r\nPeople found it much easier to actually save money if they only had one thing to commit to at a time.\r\n\r\nBut so many goals, and so little cash! Where to start? Well, we\u2019ve heard it a million times before, but the first priority has to be debt, specifically credit card debt &#8211; and the news is that Britain is finally reducing its credit card debt. Jamie Grierson in the Independent has been doing some number crunching with the latest statistics released by the Bank of England and reports that although consumer credit lending is still rising every month (it rose by \u00a3459 million in August, compared with a rise of \u00a3300 million in July &#8211; those ice creams do add up don\u2019t they&#8230;) lending on credit cards actually went down by \u00a323 million.\r\n\r\nAn optimist might say &#8211; great &#8211; we\u2019re finally getting the right idea and managing to cut our spending. A realist, spotting that lending on personal loans and overdrafts actually rose by \u00a3482 million would say &#8211; nah &#8211; looks like we\u2019re just maxed on our cards and are converting them into loans. Great &#8211; cheer up &#8211; Christmas is around the corner!","protected":false},"excerpt":{"rendered":"I am indebted to my old college mate Chris for spotting a piece of research which shows that it\u2019s far better to focus all your efforts on saving for one thing at a time rather than trying to spread your cash over several different goals. According to the University of Toronto\u2019s Rotman School of Business","protected":false},"author":2,"featured_media":14611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3507,3349],"tags":[69],"class_list":["post-3486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-save-for-your-child-with-help","category-household-savings-advice","tag-money-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>So many things to save for, so little cash to go around! - KidStart Magazine<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.kidstart.co.uk\/blog\/so-many-things-to-save-for-so-little-cash-to-go-around\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_GB\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"So many things to save for, so little cash to go around! - KidStart Magazine\" \/>\r\n<meta property=\"og:description\" content=\"I am indebted to my old college mate Chris for spotting a piece of research which shows that it\u2019s far better to focus all your efforts on saving for one thing at a time rather than trying to spread your cash over several different goals. 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