Financial Advice my Parents Gave Me

financial advice my parents gave me

I grew up with my sister and mum always being at home with my dad out working, 6-7 days a week. He was self-employed and worked mainly has a dry stone waller but also did other jobs like garden, helping out on a few farms, which included sheep shearing and feeding the animals, along with other odd jobs. He always taught us to work for our money and you get what you put in. He loved being his own boss, but that also meant a lot of hours working, so when dad was at home we made the most of it by going for family walks, or to the park and we often had family game nights when dad would make his own board games up.

Me and my sister started getting pocket money when I was 10 and my sister 8. It started off at £1 a week, and after a few years we were getting £5 a week. I am like my dad and like to save money, so I have always got some incase I need it. He always said you should always keep some money aside and don’t spend as one day you may need it unexpectedly. So when I was about 14 I opened my very first current account. I felt so grown up having my own bank account and loved it every year when I would get paid some interest.

I have taken my dad’s advice and always make sure I have a bit of money put away, just in case. And it’s a good job that I do, as a few times things have happened when I least expect it, like last year when my cooker went on me. If I didn’t have that bit of money put away I wouldn’t have been able to afford to buy one, and there’s no way I could live without my cooker.

My eldest son in now 10 and he get’s pocket money every week like I did. He mostly spends his on sweets and add ons for his PS3 games. But I always tell him to make sure he saves a bit. I’ll be opening him a bank account when he’s 12 or 13. And hopefully by then he’ll take on mine and his grandad’s advice.

 

What advice did your parents give you? And do you give your children similar advice? 

Image courtesy of Feelart | Free Digital Photos

 

This is a collaborated post with TSB

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4 Comments

  1. Kirsty Fox 13th June 2015 Reply
  2. Emma's Mamma 16th June 2015 Reply
  3. Mummy R 16th June 2015 Reply

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