There goes our savings again, all three children have returned from school with yet another form to fill in for them to attend school trips. Then I find another form in a school bag to request new school jumpers, which 2 of them need.
It never seems to end does this money lark and as we know money does not grow on trees. The husband and I actually decided last year to open a savings account where we could put a few quid away each week, sort of an emergency fund and by heck am I pleased we did it.
I had no idea about saving accounts and we had always just had our current accounts so when mom told me ” It is time to learn how to manage your finances with a savings account“, I started to panic. It all sounded rather grown up.
The savings account is now a life saver and we only put a few quid away each week, yet after a month or two it soon adds up and this time round it has paid for the school trips and 2 new jumpers.
It was my mom who told me to require further information about opening a cash ISA , but how do you find the best cash ISA for you? I am seriously looking at this as an option. Nakita in 3 years will be wanting to take driving lessons and then need a car and even a little cheap run around costs, so a cash ISA maybe just what we need. Better still its tax free.
I have never been one to take the seriousness of money management till last year when we really did need to sit and take a look at our finances. To be honest I had no real idea where all our money went.
Now we have savings account I do try to save the pennies so I have something to add to it each week. Juggling a few things and cutting down on items of luxury, affords this extra account. Its our rainy day fund that can be used for family day trips or when the kids need a new pair of shoes for example.
It makes all the difference having the money readily available, rather than having to rob from Peter to pay Paul.
What do you think? Do you have savings account? Have you ever used or thinking of using a cash ISA account? I would love to hear your own money management skills.
