How I taught my child money management skills.

When my child was younger, pre-COVID-19, they were always asking me for money —usually about £5.00 a day. Which was all adding up and becoming very expensive. How did I teach my child money management skills?

Eventually, I handed them their ‘child benefit’ money and told them it had to last and that there was no more money for ‘stuff’.

They could either spend it weekly or wanted something ‘big’ like a new gaming machine they would have to save their money each month until they had enough to buy what they needed. 

I continued to pay for everything else they needed. I believe it gave my child responsibility and helped them know the value of money.

It also saved me a vast amount of money and taught my child money management skills.

Hints and Tips

Here are two hints and tips on how to save money to put towards your weekly savings.   

  1. Use a shopping list. If you shop online for your groceries, it may even help you to reduce delivery charges.
  1. To make washing up liquid last longer, use a pump to dispense it. I find this makes it last so much longer and dispenses exactly the right amount each time.   
washing up saving money
Photo by Annie Spratt on Unsplash

Christmas countdown  

There are 47 weeks and 6 days until Christmas Day. If you decided to join me on my Christmas Countdown Challenge and save £20.00 a week, your total should be £60.00 already!  

By Christmas, you would have saved £980.00 if all goes to plan.  

christmas countdown drinks
Photo by Billy Huynh on Unsplash

But let us face it, life is not always that simple, so if you cannot save every week, do not worry, start the next week again.  

Grow your own – my allotment 

It’s snowed where we live, so there’s nothing I can do on the allotment at the moment.  I have started to plan to grow my plants this year though and opened the ‘seed tin’ to take stock of any seeds from last year I can use this year and then I will buy any others I might need.

Work with me 

As a thank you for signing up for my Newsletter, please claim your free 30-minute Newsletter Chat with me worth £15.00 

We can use this time to discuss how we can work together to create your Financial Goals using a Financial Vision Board to set your goals and financial strategy.

Below are a few links you might find helpful if you need financial advice.

I supply financial education, if you need financial advice here are some links you might useful: Step Change  Citizens Advice Bureau, Money Advice Service, Christians Against Poverty, National Debt Line,  Shelter, Turn2us

Disclaimer, Patricia Buckland, 459 Micklefield Road, High Wycombe, BUCKS HP13 7HZ 

Presenting as Debt Talk Ltd 

The information and education (the “material”) provided by Debt Talk Ltd (the “author” is from sources believed to be reliable, but the author makes no representation or warranty expressed or implied as to the accuracy or completeness of the material. The material is provided for assistance of the readers of my blogs, attendees of the workshops and meetings, but is not to be relied upon as authoritative or taken in substitution for the exercise of the attendees’ own skill and judgement. The author accepts no liability whatsoever for any direct, indirect or consequential loss arising from any use of the material or information, data third party information provided by the author. 

The material provided by the author does not constitute advice for the purposes of any individual case and it cannot be a substitute for specific advice based on the circumstances of an individual case. The author wishes to make it clear that the readers of my blog, attendees of the workshops and group meetings must take specific advice tailored to their own specific circumstances and whilst the author has used reasonable skill in order to provide relevant information to the attendees relating to their eligibility for personal government entitlements, the author’s role is only to educate and therefore the author will accept no liability whatsoever for the direct, indirect or consequential loss or damage arising from any reliance placed upon their material for any purpose.