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Anyone else not able to save for their (pre-school) children

9 replies

PogoBaby · 31/08/2011 20:26

DD is 12 months old and we're on a single income as DH is a SAHD, I have a pretty good salary compared to many but I'm just not managing to save anything for her at the moment.

During maternity leave we struggled as SMP was a huge drop compared to my salary and now we're having to spend quite a bit on the house / garden (all essential).

Everyone else always seems to be saving loads for their child(ren) and muttering about university fees, please someone reassure me that we're not the only ones not yet saving - I'm not even assuming DD will go to Uni!!

I am planning on saving for her in the future but right now need to concentrate on making sure she has a warm, draught free house and safe garden!!

OP posts:
osd · 31/08/2011 20:32

I can save £40 for each child just, but not saving for our 14month old yet.
DD is gonna marry a farmer and be a mum, no uni and my 2 ds are going into trade or the like apprenticeships or marry well no uni.

Don't panic she needs love no more than that and she is a girl just arrange her marriage as best you can and she will be fine.

I am going back 50 years plus on raising mine. Grin

PogoBaby · 31/08/2011 20:53

Given DD's talent for destruction I fully expect her to end up doing something physical / some sort of trade Smile

IF she could marry well it would be cool, wouldn't have to worry about my retirement then - can just live off her GrinWink

OP posts:
stressheaderic · 31/08/2011 21:10

We only put £10 a month in my DD's trust fund and so do my parents. It's all we can afford at present, she is 18 months, we have a massive nursery bill and things are very very tight. Not planning more children til she is at school so hopefully won't be his skint forever, but she is loved, fed and warm and that's all that matters!

PogoBaby · 31/08/2011 23:07

We could probably do £10 a month and it would be a start and then just build on it if we ever have any spare money.

OP posts:
byanymeans · 10/10/2011 16:46

I have an account for my DS and we put all of our loss coppers into it every few months when the jar is full. It coming to a grand total of £40 ish so far over 2 years.
I'm sure it is very nice for those who can put money away for there children but honestly I think that my parents could not it for me. I'm am no better or worse off for not having money to put me though uni but I still went to uni.
I'm proud to have done what I have off my own back even if it meant 2 jobs and uni or going with out. Saving for your kids future is a very new thing for those that can afford too a warm safe loving home now is a far better use of your money.

confusedperson · 23/10/2011 19:32

I have 2 DC under 3, and can save very little (and that saving is just to build up an emergency fund at the moment). Once I have an emergency fund (around 2k I think), then I will try and overpay my mortgage. I calculated that I am better off overpaying my mortgage, lets say £100/month, rather then putting away £100 for children. Hopefully I will be mortgage free sooner than later, and will be able to help my children with university etc. That's is my plan...

chickenlickin · 24/10/2011 07:43

We can't save any and I also worry! But I am trying to pay off small credit card and also home improvements. I think I will try and start over paying the mortgage first and then when/if uni arrives at least we wont have a mortgage!!

inmysparetime · 26/10/2011 08:47

My parents used to "save" for me, but then used to raid my account when they needed cash.
IMO it's better to get on top of debts and get the mortgage down, there's plenty of time to save when DCs are school age and childcare costs reduce.

AVoidkaTheKillerZombies · 26/10/2011 16:44

I save £3 a week for each of my children (we have three) I find it easier with a small amount. I would love to save more but we just cant afford to at the moment.

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