While at School I happily worked a paper-round and also worked in the newsagents before school, I then worked Saturdays in a local chemist.
It was a good start for me and I hadn’t had a working break since I was 13, until I had Emmy that is, although I did go back to work as a Nanny for a while. The break didn’t last long and soon I was self-employed and working again.
Although I’ve worked from a young age I was never careful with money, it was a means to fund my going out with friends, my new clothes and of course shoes and drinking, clubs and pubs.
Living at home with my parents while at college meant I didn’t have much to pay out for – I paid them £20 house keeping a week, paid my own mobile phone bill – pay-as-you-go was the easiest option back then, I also paid my car tax, insurance, MOT and petrol bills but it was a pretty cheap lifestyle back then. During college I was working as a Mother’s Help to a lovely family who I later went on to work full time for as a Nanny once I qualified. With my wages coming in at the end of each month I would have money left over and at a young age of course I didn’t think of putting this into a savings account for a rainy day – it would go towards a new outfit for clubbing or takeaways while out at the weekend.
It was so easy back then. Becoming a Mum and becoming self-employed has taught me how important budgeting is as the work isn’t always constant however the bills are. Banks and utility companies are fussed if I only earn a very small amount one month – they still need paying so I HAVE to ensure I have budgeted for the bills and expenses which keep cropping up. School trips need paying for, uniforms purchased and school shoes renewed almost termly. I just have to be careful with money, there is no choice no.
It is only recently I have started to put money aside in a separate account to pay for these rainy days and discussed with my bank manager the best accounts available for this as I wanted to find something I could put money into to save but still have access to it when needed.
A recent survey by Satsuma revealed that 54% of middle aged Brits (44-55 years old) admitted to not knowing simple things like their current account interest rates, while 44% confessed to never having sought financial advise from a bank.Do you think you are Money Savvy? Why not take this simple quiz to see just how clued up you are?
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For me personally, it was only in the past few years I stopped living in my overdraft – I had fallen into the trap of having more outgoings that incomings due to poor money management and far too many rainy days, now I am out of it happily and DO NOT wish to fall into this trap again but I now know should I need that money desperately it is my very last back up plan.
Are you a careful saver and watch the pennies?
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