What small things make a big difference when life changes? Tell Money Advice Service for a chance to win a £300 Love2Shop voucher NOW CLOSED

[AngelieMumsnet]

Money Advice Service would like to find out what small things make a big difference to Mumsnetters when they go through big changes in life.

Money Advice Service Say "Life is full of unexpected changes, but sometimes we're not prepared for how they might impact our money. More than one in six working families would receive little or no help from the state and see their income drop by a third, if the main earner became unable to work."
"Here at Money Advice Service, we help people manage their money by providing free and impartial advice. We're really interested to know what Mumsnetters find helpful when going through changes in their lives."

So, what have you found helpful when going through significant changes in your life? Maybe you've found having savings particularly helpful when going through career changes? Or perhaps you find it reassuring to know that you have protection insurance? Maybe it's as simple as knowing you have someone in your life who can support you if you're going through a difficult time?

Whatever small things that make a difference to you when life changes, Money Advice Service would love to hear about it.

For more information on securing your financial future, check out this Money Advice Service guide.

Everyone who adds a comment will be entered in to a prize draw where one Mumsnetter will win a £300 Love2Shop voucher*.

Thanks,
MNHQ

*Provided by MNHQ

We have family who are generous & have the means with which to act on their generosity. As a SAHM, I frequently worry about how we'd cope if something happened to DH but I know that we have family members who'd be there to support us for as long as necessary after our fairly meagre savings ran out.

We do have insurance on the mortgage etc which gives me a little peace of mind but that's just one of our numerous bills plus we've got 2 DC to feed - we really couldn't survive without DH's income.

I'm fortunate enough to have parents who, while they couldn't afford to pay the costs of running a separate household, will always offer me a place to live in the family home while I'm going through significant changes in my life. Without their support and allowing me to stay at home during my studies, I don't think I would have been able to afford to go to university.

DH and I don't have family to help so if anything were to happen and hit our income we would struggle. We have some savings, life insurance and mortgage payment protection insurance but obviously hope we would never have to use them.

I've been very reluctant to ask family for financial support as they aren't well off, but my parents have always been very generous with time and food parcels - my mum has never quite got out of the habit of cooking for a big family and is always bringing over lovely home made meals! That has been invaluable when I've struggled to manage with young dc. And my parents and sisters all live locally and have always been on hand to help with ad hoc childcare or doing the school run when it's been impossible for me to be in two places at once.

Someone who will listen without judging

I also like a nice bubble bath, it allows you to escape for a while and feel pampered. I get it from family members for Christmas and birthdays as they know how I feel about it, I manage to stretch out over the year so I get the luxury without the cost

We've been in a situation where we struggled A LOT. Thanks to CAB we're at the other side now. It's the nicest feeling knowing that whilst we need to be careful (because it's our first year self employed) we don't need to count every penny. Knowing that I can afford a coffee with friends is a luxury I'm still getting used to.

Although I've never asked them, my family would help as much as they could, either financially or as someone to talk to.

Access to my overdraft is a short-term comfort, sometimes that's all I need.

I'd like to say savings, but I've not had enough money to save anything for quite a few years now.

What's really surprised me is how my teens have pulled together to help me. Coming home to a tidy house ' oh I got bored so thought I'd do this for you' or 'mum, I put the bins out already' or 'I'll do the school run'

Didn't expect that. Not off their own backs, maybe I don't give them enough credit but they are there when needed. And knowing they've acknowledged the difficulties I had ( change of work hours and no weekend childcare) means a lot

Savings have helped massively when employment options changed drastically and suddenly. It matters a lot as DH would only get SSP if off, it does not touch the sides in terms of what he brings home (not lots). We also have some income protection insurance for this reason.

Friends who stay with you while you are going through a rough time.

Dp had a major accident in December 2013 and is still not back at work. We've now lost our house and are moving to rented accommodation. The support of friends has been incredible. We had one friend organise a veterans charity to buy and deliver our Christmas dinner that first year when I couldn't due to looking after dc and endless hospital trips. Another group of friends did a food shop of staples to see us through. Others came to visit at a time we were mostly stuck at home and have remained supportive, offering help to move.

We found out who our fair weathered friends were and I am grateful for the ones who stuck by us. Even a message or email or phone call to ask how we were was appreciated.

Someone who understands.
The realization that treats can still be treats for less money. Having a nice meal (e.g. not beans on toast).
We have sickness protection for our income. That makes me feel more secure.

Always save a bit of what you have. What my parents taught me and what I teach my DC

Knowing that parents would help if something unexpected happened is always a reassurance. We have always slightly overpaid on the mortgage too so that if we suddenly had to miss a couple of months it would t be a problem. Finally having some savings in reserve for rainy days.

We've always used a budget planner which has helped immensely through lean times. I know exactly how much I have available to spend each day and this makes me feel in control of things.

We've been hit hugely by government cuts which affected both DH and I in our career areas. We have been forced to take temporary contracts and big pay cuts to stay in work. We've coped by being really strict with our spending and I think this mentality will stay with us even if times do get rosier for our careers in the future!

Lots of things, knowing I have coped on less before & so can do it again if needed keeps a certain mental robustness.

Financially, the credit union has always been great. The local nature of it, the safety net of having the ability to take a loan at short notice, knowing you reduce interest the quicker you pay off the loan, it all helps practically when you need it , & psychologically as a safety net all the rest of the time!

We have savings which as nice as they are to have came as a result of inheritance, so bittersweet really! My husband is about to totally change his career and become self employed. I'm a SAHM so we totally rely on his income. Sometimes it's scary thinking we won't have that regular monthly income coming in. We have various insurance policies for loss of income, ill health etc but that may have to stop soon. You just have to cut your cloth, and start shopping at Aldi!

Having paid off the mortgage and having savings gives you much more flexibility if something goes wrong.
Even having overpaid the mortgage so it is small gives great security, because in a crisis it is possible to reduce payments by extending the term.

As soon as I found out I was pregnant with my second baby I started stashing cash away. During my first maternity leave my (now) ex-husband was so terrible with money we were always one step away from not being able to buy food/pay bills. I had quite a nest egg by the time my baby was born and I made it through that maternity with a lot less stress! I am much more comfortable now that I solely responsible for my financial position and I control my own budget.

As mad as it sounds, faith. We have had some tough times, and the Lord has always provided. Some may say that's because we have generous friends and family, but that's how we feel. We've never been rich enough to have a rainy day pot, but we don't have ANY debt and have just enough to live on. We're very happy, and rich in comparison to countless others in the world.

For us it's having some savings in the bank. We have enough for a new boiler (as it will pack in soon) and car repairs. We also make sure we have a decent credit limit on credit cards (even though we don't use them) just in case we need something quick.

Savings and a budgeting habit will help us cope with life changes.
In times of crisis, I know thst I could approach family for help, but thank God I've never yet had to do so.
A strong relationship is also crucial.

I'm not sure we could or would rely on anyone's help (even though DW's family are relatively well-off). BUT having said that our savings pot is not large enough to cover more than a couple of months of crisis. We do have a mortgage protection plan though just in case one of us got ill.

And yes agree with *chairmeoh" about having a strong relationship and the ability to talk openly and honestly about money (which is sadly the root of much relationship strife).

savings, i'm inncredibly strict about always having a good amount 'just in case'. the other thing is always living within my means, the mortgage could be payed on one salary if it had to be and there are no other debts

Both DH and I were brought up in families where having money for a rainy day was the norm so we've always had some savings. This was a great comfort when DH was out of work for six months - though we cut back on spending to avoid touching it too much. The most important thing was that DH and I both felt the same about managing the money we had. We always had enjoyed doing things like walks in the woods with the children etc. so that sort of thing, which didn't cost any money at all, we still enjoyed.

DH's family wouldn't be in a position to help should we fall on hard times. My parents do have some savings having worked hard all their life but they are retired so there isn't really anyone to bail us out financially. A friendly ear and a cup of tea would be a start then some sound impartial advice