Monday, 22 February 2016

Budgeting, Book Day, Bits & Bobs

This is Amy's piggy bank after her birthday. Lucky, lucky girl. Now that she's 16 we thought it would be a good time for her to start learning how to properly manage money and budget for things. 
So, we've decided that from now on she'll get part of her child benefit. For any readers who don't live in the UK parents can claim child benefit for every child they have. The first child receives £20.70 per week up to the age of 20 (as long as they are in approved education), and every subsequent child gets £13.70 per week. 

Anyway, back to Amy. We're going to give her £60 of the child allowance and from that she has to buy clothes, shoes, haircuts, make-up, magazines, in fact pretty much anything she wants. The exception to this is school wear, but considering she leaves in about 4 months, I can't see me buying anything else for her. 

I think it'll be a good lesson for her in the value of money. She's also been 'advised' that after her exams she should look for a Saturday job. To be fair she does want a job, it's me that wants her to wait until after the exams, so I don't think that will be a problem. Her first spend comes this Thursday. She's booked a hair appointment and although she only ever has it washed and cut that will be 25% of her allowance gone already. 

Today, I've had a quick tidy around the house, for once there wasn't much mess made over the holidays. I think my big clear out in January has paid off as the house has stayed so much tidier since.

Then this afternoon I cut some more pencil bags, ready to sew. Annoyingly I forgot to iron the seams in so had to un-iron the fold downs and start over.
I've used red with some blue bias binding I had so these could be for boys or girls. I want to get these finished this week and in the post.
And this little lot will be going off on their travels as well. Then I'll have to find myself something else to do in March. 
Thomas came home with a note of what's happening at school between now and Easter. The dreaded World Book Day is 3rd March which gives me 9 days to come up with something. I'm thinking Fantastic Mr Fox and Thomas seems OK with this. 

And before you all run to the hills, I promise faithfully not to moan once about having to make this costume!

xxx









10 comments:

  1. We did exactly the same with our daughter now aged 41and it has stood her in very good stead as she has got older. Even when she could not get a teaching post, she worked in a restaurant for minimum wage and never signed on for benefits. My SIL On the other hand is dreadful with money and his mother tells people she never took a penny in dig money from either of her children! Good financial habits are a life skill which need to be taught -the massive debt problems are caused by people ignoring Mr Micawber's advice!! Catriona

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    1. Hi Catriona. I'm hoping it'll give her some basics in managing money. I know it's hard not to get into debt these days but if she has an idea of how far money does, or rather doesn't go, that in itself will be a good lesson. To be honest she doesn't ask for much but tends to get whatever she does want, so that's another lesson, that things don't always come so easily. I'm not cutting her off completely though lol. There'll still be treats, I just want her to handle her own money from now on. xx

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  2. had a lot written, but Violet is rambling on so much she put me off and it didn't make sense. I've deleted it (getting in a huff with her, she's meant to be cleaning her teeth but is leaping around and being pain).

    Lucky Amy, she has a lot of coin! Drinks are on her ;o) xx

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    1. Haha, sometimes I have to say to Thomas "quiet now, you're scrambling my brain". He can go for hours not talking then is like a machine gun on rapid fire. Amy is more direct and will just say, "Thomas, shut it". The joys of kids.

      The birthday money would certainly get a few bottles of champers in that's for sure. xx

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  3. Your row of teddies look so darned gorgeous! Amy will be a fine citizen thanks to her fab parents! Four months left at school tho.....eep!

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    1. Aww, what a lovely thing to say Rachel, thank you.

      The teddies look like a line up at an identity parade don't they. Which reminds me, Mark was approached in Kendal before I met him and asked to be in an identity parade. He got paid £6. Random piece of information for you lol.

      I know! Four months will fly by. I'm not even sure they go in properly when exams start so she might even have half left in May! xx

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    2. I'm a bit jealousy yes! I've never been approached in Kendal!!!

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    3. I bet you've been approached in plenty of other places though Rachel :) xx

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  4. Those teddies are great. I think you are right about money - it is never to early to get them to start and think about saving/spending, and getting the balance right.

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    1. Thanks MMC. The teddies are all wrapped up and waiting to go.

      I think they should do basic finance at school and I'm sure there was talk of this but it doesn't seem to have happened. It'll be interesting to see how she gets on with her allowance. I'm sure she'll be fine but I'd rather she learn from any mistakes now. Of course I can't be responsible for what she does when she's older, but I'm hoping managing her money will instil the basics in her. xx

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