AIBU thinking I should be saving now!

[Italiangreyhound]

AIBU thinking I should be saving now!

My kids are 7 and 13 but I am already wondering about college/uni (for them) and whether one of them might want to get married one day!

In all likelihood we will be expected to support two weddings and the younger one may go to Uni (Older one has told us no to uni already).

Do people start separate funds for all this or just save hard and wait until the demands come in.

Be good to hear what other people did and see if saving little and often for specific things is the way to go.

Thanks

We save £100 a month in a child trust fund for university fees, though I know there is vigorous debate about whether these costs should be funded by parents or by student loans.

Any wedding costs can be paid for by the child in question and we might top up if we are feeling generous. Mine and my siblings weddings were self-funded which may have coloured my views though! We're more likely to help fund a house-buying deposit.

Yep start saving, DS1 driving lessons are costing a small fortune! He will no doubt want a car and the insurance, eek!

Totally depends on your budget, doesn't it.
No-one can save if you haven't got 'spare' money each month, and if you do have 'spare' money each month, then it makes sense to save some, for ..... whatever happens in the future..
We've never saved into specific funds for University or weddings, but I've always saved except when brassic.

@OhMrDarcy thanks, great ideas.

@Yogagirl123 driving lessons, car, oh my.

I think I am affected by the fact my parents and in laws did help us a lot with our wedding. And so I would want to help the dcs! But yes, driving lessons, car, college, marriage/house, it is a lot.

@OhMrDarcy 'We save £100 a month in a child trust fund' do you get extra money in tax breaks back or anything?