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

Having some savings has helped me through a period of no work as I could not face attempting to claim benefits and the oppression that brings.Added to this I restricted my ambitions so that I can accept that I just live on the basics and that an hour out walking for a day is as nice as a fortnight on holiday at an exclusive luxury resort and that I do not need a big TV,a car,and new things in general :)

We always save some money by direct debit every month and forget about it. Boring I know, but it always means we never cannot afford to do something if it crops up - usually house repairs!

Someone who understands you and lets you cry your heart out and still give you a big cuddle!

I spent years struggling and overcompensating for my children, ensuring that they always had everything they wanted and feeling guilty about splitting up with their father.. that I would struggle myself to make sure they had everything.

Fast forward a few years, I've started to explain to them the value of money and why they can't have everything they ask for/think they need but I now always give an explanation as to why this is and that I would love to be able to get them these things but money has to pay for alot of other things too!

This went far better than I expected, they all understand (twins of 9 and a 10yr old) and they are all more conscientious themselves and understanding! My little girl even 'shops around' now and weighs up the price of things she would like and makes good decisions mostly!

The kids have always been the most expensive things and doing this has saved me alot of money and alot of misery - there aren't any guilt trips anymore! I am upfront and honest about the budget we have for birthdays, christmas and events and without being 'tight' (I'm not a pennypincher) they always have a lovely time without the uneccessary extravagance!

The compassion of friends who will help as much as they can no matter what!

Well, without going into details my life has been a bit of a roller coaster financially. There have been nice purchases (when i could afford it) and then there have also been choices like which should I buy? soap or toothpaste.

Have a back up plan, most of the time I have had one, but to be frank sometimes i life you just cant afford to start one. What I mean by back up is having a little bit of money put away for emergencies, times of redundancy and no work. If you are able to spare some cash, even a little amount the wise thing to do is stash it somewhere for times of need. It is also a good time when you have the good things in life to help others in your family and friends - because when you fall on your face its them who help to pick you up again. Have a partner who blows your money away? Then buy things you know you know you can sell on at a later date and hide them (even if you have to ask a friend or family member to keep it for you).

Secondly, when you reach a low part of the rollercoaster - DONT PANIC. Think things through logically not emotionally - write down what you have going out and in and see how frugal you can get to get the cost of living down to an absolute minimum. Anything that is not food and heat you dont really need. Never borrow money unless you have absolutely no choice as it costs you more in the long run. If you do need money could you not sell something you have first? The price of things that are gold and silver have gone up. I remember years ago a silver necklace that cost £15 paid out £35 in a well known chain of pawn shops - they just bought it no loan.

Thirdly, get sound advice. You never need to pay for advice - there are many places to go. If you have lots of debts they can help you consolidate your loans into one (without paying a company to do it for you) - all it takes is a lot of TIME - be prepared to spend a lot of time to save yourself a lot of money.

Life can still be good when you are at a low if you manage it well, keep your chin up and smile, plan ahead and find things to do that are free, frugal and fun. You dont even need to have the internet at home (its at your library), get on the forums and start soaking up all the tips for a happy life while riding he financial rollercoaster xx

We have some savings, and we took out a mortgage based on one salary so we would not be overstretched.

Any changes in life can be difficult, but being organised with finances can ease the pain a little.

With this in mind, my husband and I have made wills, and organised our bank accounts and statements, leaving everything in place for if anything happens.

Our children will be able to find everything which may be needed, but not for a while yet (I hope)!

Some of the things that help us out are having a 2p and 1p jar, saving coupons, saving stamps for Christmas food shopping for example morrisons, Christmas clubs, shopping in charity shops or online like nearly new, entering competition s and doing product trials. Our family help us out but we always offer the money back.
We also look out for paid trials for opinion s

Its always nice to fall back on your raining day money, when times are hard. It makes it worthwhile when you have that little bit left over to make good use of it

Little things like changing brand can make so much difference! I used to buy brand named products - now I shop in a different store and use own brand products for most things- there is very little change in the quality - but the change in my purse rattles now !!

if you have a savings buffer you always feel more secure, whatever happens

For us it's a combination of having money in the bank 'for a rainy day' plus family who are willing & able to help out financially if needed.
I don't like to borrow money but there have been a couple of times when circumstances have meant we've had too and it's been a relief - we're very lucky & grateful (and always pay it back of course!).

We also live within our means, don't have credit cards / any debt, and are quite careful with money.

My mother in law has been extremely supportive (financially and otherwise) and although we haven't needed her financial support for a several years, i know that she's there if needed.

We are fortunate to have a wonderful support network around us and family that will help us.
Although contents insurance gives us peace of mind and well worth it!!

We make a real effort to live on a tighter budget than we have to, so not only can we save a little cushion, but if our income reduces, it won't be such a shock to the system.

I stopped buying fizzy juice and now save £30 a month!! You dont think about these things. I was spending around £1 a day on juice!!! water is FREE

I lost my job not long after we bought our first house. What made the sink-or-swim difference for us was a neighbourhood advice centre who provided an adviser who sat down with us in person. She was able to comb through our finances and work out exactly what benefits we were entitled to in our circumstances and how we could manage our debts most efficiently.

I am still so grateful to her calm and wise help.

I think living well within our means meaning that when I was having a really shit time at a previous job, DH could just say "quit" without the fear of having to find another job first as we could live off just his wage. (I did stay until I'd got another job in the end, but it was good to know if it got too much I could walk, lost that 'trapped' feeling).

I'm a SAHM now, it does make me nervous that we're so reliant on DH's wage only - we do have savings enough to keep us afloat for 6 months and very good life insurance. I would prefer to have an even bigger cushion.

Luckily I saved quite a bit more than I needed when I first bought my own house, which has helped majorly over the last year when I had to leave my job without another to go to.

If something big happened I know my friends would rally round,but we do have savings that would see us through for a few months as well as some insurances but living on a controlled budget means we are used to getting by.

Good family and friends to support me

The support of a loved one makes a huge difference when you're in dire straits. My sister is always there for us at times like this, and we have done the same in return when she was in difficulty a few years ago. Neither of us waste money and we don't spend a huge amount at Christmas time on presents, but often a big bill will present itself at exactly the wrong moment and that's when you need the support of others, thanks sis!

always having the support of family there when you need it

I was made redundant 5 years ago and spent 4 years out of work. I was glad I took some advice on where to put my money.
We managed on one wage and used savings to top up his wage.