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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

How to help re:budgeting

8 replies

WatermelonWaveclub · 13/07/2022 09:43

My niece is a teen and has a toddler. I support her the best I can. One way is financially - if she runs out of money at the end of the month I lend her some money which she always pays back promptly. I also sometimes just send her money as a gift if something unexpected comes up and she is short on money. Sometimes her Dd's dad doesn't give her the agreed child support too.

At the weekend it was her toddler's birthday, I got him a few presents and also gave her some money which I said was to get things for her DD. I was thinking essentials like clothes etc. Anyway, she sent me a picture last night and she's spent it on a big toy for her DD that cost most of the money.

I realise that obviously I gave the money as a gift so it is up to her what she spends it on and I wasn't clear about keeping it for essentials. And even so she can do what she likes with it. I'm sure I bought toys for my first DC out of excitement and someone else might have thought - what a waste she could have kept that money for clothes and nappies. But I wish I could help her in some way with budgeting her money but without coming over judgemental. I have no problem with helping her financially, as I say she always pays back loans and never expects me to give her money etc. But it would be better for her to be able to make her money stretch a bit more.

Does anyone have any low-key ways I could help her out with budgeting?

OP posts:
PaperTyger · 13/07/2022 10:25

Take her to baby markets, they got really popular where I am, often absolutely stunning toy's and clothes and furniture for very cheaply!
She can buy "more"
Also Facebook etc market place and Freecycle.

Maybe show her what you do to budget?
I would be showing her a spreadsheet.

Also have you spoken about savings for the child?

ISA etc...

£5 of Whatever she gets into an ISA for herself and for baby.

FawnFrenchieMum · 13/07/2022 10:30

I would suggest asking who she banks with, since we have switched to Monzo, keep track of our money and bills has been so much easier. If predicts how much you will have left at the end of the month, it prompts you when dd are due out, you can open 'pots' for different things, ie food, spending, bills etc.

JesusMaryAndJosephAndTheWeeDon · 13/07/2022 10:32

How about getting her a copy of the Martin Lewis Money Saving Expert Financial Education Textbook? It is aimed at teenagers.

Perhaps also introduce her to the MSE site and forums there is some great budgeting advice on there.

WatermelonWaveclub · 13/07/2022 10:43

PaperTyger · 13/07/2022 10:25

Take her to baby markets, they got really popular where I am, often absolutely stunning toy's and clothes and furniture for very cheaply!
She can buy "more"
Also Facebook etc market place and Freecycle.

Maybe show her what you do to budget?
I would be showing her a spreadsheet.

Also have you spoken about savings for the child?

ISA etc...

£5 of Whatever she gets into an ISA for herself and for baby.

I'll have to look into baby markets, thank you. I've not thought of savings. Such a shame Child Trust Funds aren't a thing anymore. I will get her some info on JISAs.

OP posts:
WatermelonWaveclub · 13/07/2022 10:44

FawnFrenchieMum · 13/07/2022 10:30

I would suggest asking who she banks with, since we have switched to Monzo, keep track of our money and bills has been so much easier. If predicts how much you will have left at the end of the month, it prompts you when dd are due out, you can open 'pots' for different things, ie food, spending, bills etc.

We actually both use Monzo and it is so good. I know she does have pots for different things. I might chat with her about the budgeting function to see if I can give any pointers.

OP posts:
WatermelonWaveclub · 13/07/2022 10:45

JesusMaryAndJosephAndTheWeeDon · 13/07/2022 10:32

How about getting her a copy of the Martin Lewis Money Saving Expert Financial Education Textbook? It is aimed at teenagers.

Perhaps also introduce her to the MSE site and forums there is some great budgeting advice on there.

Ah, great idea, thank you.

OP posts:
Needhelp101 · 13/07/2022 11:14

I second Money Saving Expert, superb site!

WatermelonWaveclub · 13/07/2022 14:54

Needhelp101 · 13/07/2022 11:14

I second Money Saving Expert, superb site!

Thank you - think I'll have a look myself too!

OP posts:
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