It’s time to think about savings.

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It’s time for our family to thinkabout savings. I really believe that money issues should be faced. They rarely sort themselves out, go away or become irrelevant. I like to tackle them full on and control them before they ambush me.

I got to thinking the other day about the future and what I, as a  full time mum, will do when my children are both in school. In an ideal world I would  love to be able to take and collect them and continue to do some freelance writing and blogging and bits and bobs to make ends meet.  Financially in  lots of ways we have just got by over recent years. We haven’t had holidays abroad, we haven’t built up savings, we haven’t been shoring up a fat pension scheme. We have been surviving and that’s been just fine for now.

 I suppose with school days looming it is one of those times you have to take a longer view. If my children want to go to university or travel the world I want to help them do that. If at 18 they want to settle and have a  family (gulp) I want to be able to help out with that too.  Money is an important part of being able to help. I want to know when we are old our mortgage will be paid off  that we will have savings put by to help the kids with their first house and first car.


                                               Attribution: pasukaru76 on Flickr;Think about savings

So I guess it’s time to think about savings, not just for the next trip to Skeggy or football boots but for the future.  For the children’s future and  our own. So I need a plan of action.

Here ‘s what I am going to do:

1)      Research savings options ..how much do I need to save monthly to create  a pension scheme and a college fund that will be adequate to help the kids?

2)      Work out  much do I need to be contributing to our family life for us to have a ‘good enough for us standard of living

3)      Then …when  I have figured out what I need  to contribute and save I can figure out what I need to earn.

4)      Then I need to find out how to earn it between 9.30 am and 2.45 pm term time.

Simple!

Well the plan is simple….




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