Thinking beyond the here and now

Money never used to be an issue for me.

Not that I had much of it.

But if there was enough to live on, that was fine.

Having kids and getting a bit older (just a bit!) means money for the here and now is no longer enough.

Thinking about setting something aside for my boys’ futures – but having enough for my own – can make my head spin.

So when Now Pensions challenged me to answer 5 questions about finances, I thought I might just learn something (and I did!)

 

1)        Has the recession made you more money conscious?

Yes. It’s shocking to think how easy things were in my 20s, when property was a good investment, petrol cost less than £1 a litre, and if you lost your job you went out and found a new one (I’m sounding old, I know!)

That stability has gone. And as a stay-at-home mum I’m always aware that we can’t afford to take things for granted, or blow our savings, because with only one wage-earner in the family, you never know what’s around the corner.

 

2)        Do you worry about money?

Not so much “worry”, but I suppose it’s a concern. I don’t see the point in getting into a state over cash – but I’m not frivolous. Mr G is very money wise. He’s taught me not to get into debt. We have no storecards, only a couple of credit cards (which we pay off straight away) and if we need something big we save up and buy it outright. The mortgage is our only major debt.

 

3)        Do you think there’s enough education around money planning and budgeting for younger people/young families?

Hell no. It amazes me how many young people gather enormous amounts of debt, just for material things that they want and don’t need.

I reckon it starts with parents buying things they think their children should have – when in reality they’re really not bothered.

Young people grow up thinking they “need” the latest technology and gadgets on the market. And they get into debt obtaining it.

So many people are living off plastic, it scares me.

 

4)        When budgeting, do you factor in saving for the future?

I used to. Mr G’s biggest worry is that we’re not saving any money these days. With two kids and me staying at home, we need my husband’s entire wages. There’s nothing left over to save.

We made investments before the kids came along when we were both working. So that’s our nest egg.

Hopefully when Blake starts school next Autumn, I can get back to work and we can start setting some money aside again.

 

5)        Do you think there’s enough education around pensions, and the upcoming auto-enrolment scheme?

Obviously not, as I had to Google auto-enrolment and read up on it  before I understood what it was (and I’m still a little vague, to be honest).

I have seen the TV advert with Nick Hewer from The Apprentice, which puts over the message that every worker will be entitled to a pension. But I don’t think it gives much detail other than that.

 

This is a sponsored post, but all answers and opinions are my own