Sunday, 26 April 2015

Top Money Saving Tips for Tots

I shall let you into a little secret. Despite being a fairly normal human being. Nice family, good upstanding job. I am? A terror with money. Like awful. I may have (as in totally did) got into a bit of debt (cough a lot of cough) when I was in my youth. I may have brought ridiculously expensive bags which now just sit in a box gathering dust in my bedroom. So once I cleared all the stacks of cash I owed? I vowed not to get that way again. And? I'm pretty proud to stay I've stuck to it.

So I want to make sure my two (and my girl is showing ridiculously expensive bag taste already) understand the value of money early on. That they know how to start saving for things they want rather than me caving in and buying them everything as it is super tempting. So here are some Top Money Saving Tips for Tots.

Set A Good Example
It's no good saying that you're saving money and then just splurging in front of the kiddos. A treat here and there is brilliant but often when I am out I will see something big that I want (like a shed. OH THE GLAMOUR) and tell them that we have to save up for it. Or that we will get it in a few months. So they know that everything is not available instantly.

Curse you with your cute faces making me want to buy you things!

It's OK To Say No
You love your children. The way their big eyes look up and they try and con you into another My Little Pony Build a Bear. But sometimes? It's OK to say no. It's OK to say "at the moment you can't have this but we could come back in a few weeks" and maybe get it when they have saved a bit of cash from their birthday. The first few times you do it they may kick off. But generally? They get the deal in the end (just avoid The Disney Store AT ALL COSTS).

My two are too small for pocket money. To be honest my son may end up shoving the pound up his nose and my girl will give it to the dog. So we work in rewards. My daughter used to struggle to stay in her bed so we said if she stayed in bed for five nights in a row she would get a £1. This helps her to realise that each day she would earn a little more to get the £1. And then we also gave her the opportunity to add this up with other bits of money to get something big rather than little.

Big Treats and Little Treats
If I am being a super generous Mum and I say I will get them a little treat when we are out I always ask them to find something small. Under £3. Obviously they can't read and have NO concept of money as yet but if they come to me with a full sized Peppa? I say that's not under £3 they get that massive things need to be saved for Christmas or Birthdays.

This is not a £3 treat

I think the best plan is to talk to your children about money. So they know where it comes from. I often talk about how I have to work so I can get money to save for nice things. As they are getting older we will talk about pocket money and piggy banks. But for now to ensure that there are no visits to hospitals with pound coins up noses. We shall stick to monitoring their cash and only giving in to them ever so often. Because the odd treat never hurt anyone. Did it?

If you've got older children you may want to look at the TSB Under 19's Bank Account to help them to get ready to start saving before they grow up and leave the nest (SOB).

This post was written in collaboration with TSB.


  1. I love your £3 treat budget - I never know what point to set and giving them an idea of the value of things from a young age is so important. Great post x

    1. Thanks! £3 can get you a lot in Poundland so we always hit there! And avoid the Disney Store. AT ALL COSTS! x

  2. Love these tips. The Tot is still too small to understand the concept of money and how much things are worth but she definitely wants the sweets at the supermarket check out. Roll on the days when we can reason with her a bit more about the value of things x


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