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

Building up a safety net of savings. I was advised to do this when we bough our first house, so we built up 3 months income gradually. It's good to know it's there should we need it.

We've managed to build up a contingency fund - savings I suppose - that we try to keep above £400. It just means that when a minor domestic disaster strikes, like my bike getting stolen recently, it doesn't become a major destabiliser and we don't have to get into debt for it. We both have ambitions to build it into a redundancy fund of 6 months' outgoings but haven't managed this yet.

It's also incredibly reassuring and we feel lucky that we both have pensions, even though a large chunk of DH's vanished with Equitable Life so we are aware there is always the possibility that they could disappear.

I always save as much as I spend. I am lucky to be able to do that, but although I could spend a whole lot more on clothes, food and luxuries, I dont, because I like knowing I'm have this buffer in the bank. This should be taught in school, always, as much as you can, have a buffer.

Savings, I am on maternity leave just now and I planned carefully to make sure we would be ok but having extra in savings is always reassuring. When I budget I always up the figures a bit so I end up with a little extra at the end of the month.
I also know that my family would help me if I ever needed to ask them which is good to know.

We have savings to fall back on should we ever need it. But if things get hard, just some small time like a bath to pamper myself with friends looking after the children, or just listening to bounce come back ideas off would give a glimmer of hope and respite from the worry.

We have a back up plan. We've discussed it at length and I'm not frightened of something happening.

Plus life insurance and knowing that the dc godparents would help.

Finally a frank discussion with my dad who would always look after us.
So my tips? Honesty and a back up plan.

Having supportive friends around really helped us when I was in a sticky situation and my childcare fell apart.
All sorted now and I have been repaying the favour.

I put aside a day to review my finances. Started by going through each direct debit, cancelling any I didn't need eg on going magazine sub which I never get time to read. Then reviewed outgoings which could be altered - gym subscription to off peak only etc. Also realised I was paying a monthly fee for my current account simply for a few added extras I didn't really need . By going to a free account and then paying separately for the car breakdown insurance which I got free with the previous account, I have saved over £100. Then signed up to do online surveys which has so far earned me £60 of vouchers for Christmas presents. Finally I signed up to Freecycle and moneysavingexpert. It wasn't exactly an exciting way to spend a day off, but worth it financially.

Been through a lot of change this year and still plodding on!

I've had amazing support from fiends both old and new both financially am emotionally.

I've used the foodbank several times and have always been cheered up immensely by nice bubble bath/shower gel and chocolates.

I've used the DWP budgeting loan which is a really good scheme that not many people seem to know about (though you need to be on the right benefits for 6 months so not an immediate thing).

Use jars for saving money for specific things . Days out ,Christmas ,the washing machine has broke down fund . As much and as little as you can manage . Spare change tipped out every week by all in family .
It grows and gives tangible evidence as the coins grow.
I think it is more difficult to do now when we use our cards and Internet shop to actually have real money in our purse/wallet . But it is scary how easy it is to punch numbers in and not think of the bank balance.

Am an old glimmer and remember the days of wage packets with real money inside . Then portioning off the jar stuff and the bills first .
So suggest gently that taking out real cash each week and only using that helps to balance money flow . A nice feeling is managing it truly .it becomes a game almost .

Also always keep some money at home if the cashpoint breaks down .
Your jars can always be used in those 'need a loaf of bread / car park scenarios .
I Internet shop avidly but always check basket next day before pressing the lovely but dangerous press button sadly

We try to save as much as we can and aim to pay off our mortgage as soon as we can. With DH being self employed with very little pension I am worried about our long term future. My parents aren't well off but do help out when they can.

We do keep track of expenditure and "look after the pennies". This comes from a time when DH decided to go self employed just as I lost my job. Tough times but we coped.

Knowing that we have savings in the bank and money that dp inherited from his grandad will help massively if ( god forbid) anything does happen.

Know this sounds trite but knowing that no matter what happens we still have each other is a comfort.

Being able to plan for a change in circumstances focused my savings ability, I knew I had to buy out an ex partner.

I keep an overdraft on my account, for emergencies but don't use it, same with credit cards, I have a couple, barely spend on them, but occasionally I do to keep a good credit score, but also should there be an emergency I could use them and then transfer to interest free card if I had to.

Then there was mum and dad, when I hit rock bottom they bailed me out, I am thankful everyday for it.

A couple of things for us. We use a work share save so the money goes out before I see it in my bank. Means I've built up a few grand savings that aren't easily accessible by me using online banking but I could have within a few days if needed.
A key one for me, when DSS was smaller we started putting £40 a month away in an account, the plan was if he needed school uniform, sports/hobbies subs and kits or half towards school trips we didn't have to say no. At the time we used to struggle financially so finding £100's in one go was a struggle, doing it this way spread the cost. DSS is now 17 and when he passes his driving test we will hand over the balance of £1400 to put towards a car. We still keep up the money going away too and we now have another £1k built up that's just crept up.

I've had a couple and found that keeping a good stock of rainy day supplies gets me through the hard times. Ive been out of work when I had a spinal cord injury and struggled financially leaving a violent relationship, and the thing that kept family life going was just things we had stocked up on over time like tinned food and arts and crafts supplies that you can fall back on without spending a penny. It really takes the worry away.

For us it's having family (albeit abroad) that we know will take us in/make sure we're ok if necessary. We live very very carefully at the moment as my husband earns only just enough to keep us and I am a sahm. He is still studying though, so we also know better days are ahead of us.

having friends and family around and always having some money put aside for the unexpected.

May sounds strange but having a spare cupboard with food in. A few years ago we found ourselves in financial trouble after an accident. We had little or no money but I always managed to put by a little food for those times when there was no money. We have never had enough to save something always came along and took what we had. I'm lucky my children have never asked for anything they don't want designer they are happy with a cheap item. I would love to give them more. As long as food on table bills paid I am happy.

When we had children we bought life insurance, it was good peace of mind.

Savings and being debt free. This makes everything else in life muchless stressful.

It is important to put away a little money each month if you are able to. You feel much more comfortable if you know that you have an emergency fund to fall back on. It doesn't have to be a great amount, you could just cut back on a weekly coffee meet up and put that into a pot for a rainy day. Small sacrifices can all add up.

We have very generous relatives who would help us out if we needed it, despite not being massively well off themselves. We also have some savings and the possibility of a mortgage holiday due to monthly overpayments, which would help if we were struggling.

We've been lucky enough to have a little help from our parents when we asked, but we were both massively thankful to have good sickness benefits from work when I acquired a disability and dh had a nervous breakdown

Each other. My oh and I work out a plan together we may argue with it but in the end it becomes our team effort. We also find mumsnet and Google helpful for money saving tips.

I have been ill in the past unable to work and what it really helped were having friends around that would collect children from school and help my husband to cope.

Financially saving money here and there make a difference and helps buying bigger things.