Activities or savings?

[newphoneswhodis]

This has 3 points.

1. My earnings are significantly lower and will remain that way until the new year at the earliest.

1. I pay £50 a month into a bank account for each of my two children. This is savings for when they are older and we don't touch the money.

1. My children are excited to get back to their after school activities in September this cost approximately £50 each per month.

So my aibu. Would I be unreasonable to stop paying into their savings to fund their activities? I'm not sure I could continue to pay for them all without some serious adjustments. I think they will benefit from these activities and I may be able to start saving again when work picks up. I'm just not sure what's for the best.

Of course YANBU. It sounds like a very temporary thing and their activities will be more beneficial for them then an extra 200 quid in their savings.

How old are your children? Will they mind if they do the activities or not?

I would vote for activities . Children have had do many clubs/activities/school cancelled. Do what you know they enjoy . Do not feel guilty , times are difficult for many right now. Ps I have not been able to save for DC regularly like you have so I am really impressed.

I would go with the activities, you can always top up the savings at a later date. But really, at the rate you're saving a few months less won't really make that much difference.

"so many"...

Activities for sure. Lots of kids come of age without a penny in savings; a few hundred pounds each less won't do your very lucky DC any harm.

I would go with activities too. Especially now when they really need to start doing social stuff again.

They are 5 & 7. They do want to go back to their activities so I'm glad people seem to agree it's for the best. I'm thinking of asking my parents to buy swimming lessons for a Christmas present but worry that's going too far.

I'd also go with activities .

Op how much do they have in savings!!

It could be thousands in which case yes, definitely actives.
It may be 200 each... In which case I might say savings.

If its stock and share isa, buying 50 now will of course be buying then more.. Because market is low. Something else to consider.

Personally I've got activities on hold till next year.

I would go with activities

Activities. Thats enjoyment now. Whilst its nice to have savings for when they are older, anything is better than what a lot of people have but they will manage without. They shouldn't have to miss out on now, esp when its been such a bad year.

Activities. And I would 100% ask GPs for the swimming lessons, if you felt they could afford it and it was of a comparable value to what they would otherwise spend. My DGM has six grandchildren and 7 great-grandchildren and dearly loves to be told what to buy everyone for Christmas!

Definitely Activities .. as much as its nice saving for the future, it is better to do things in the hear and now is my opinion