Maybe I've gone way too deep down the rabbit hole, and this whole digital id thing but we started saving for our kids since they were born. One has like 3k she's 3 and the other is 1 year old and has about 1k both in junior ISA accounts.

But it seems pointless having all that money in there 🤔 and the world as we know it now of course in 15 years is not gonna be same. I just have my reservations. Now thinking about it, I could have just put that money aside and gone on one long holiday before the world turns to shit and we can't go anywhere.

This is just a rant and I probably need help but is there a point to saving long term for the kids ??


8 comments

  2. What?

    I don’t follow – This post seems like a bit of a non-Sequitur?
    How does any of this have an impact on your savings?

  3. As with all of these questions, it depends.

    If you can save and be comfortable still, then it can help them massively in the future for things like driving lessons, a car, a house deposit etc.

    But if saving means you’re sacrificing things for them now, then it’s probably not worthwhile.

  4. If the world gets shittier, it will be somewhat less shittier for people with money. So barring the total collapse of society, giving your kids more money is better for them.

  5. This is like when people say they won’t save for a pension, because they won’t live to retirement/ ever be allowed to retire etc.

    I pensioned up from the age of 20, and was really pleased about it when I turned 40.

  6. I remember my mates tell me that saving and investing was a waste of time because of nuclear war/hole in the ozone layer/USSR invasion of western Europe (!!).

    Now as I get ready for retirement, there are wondering how they can supplement their income and how to keep working for more decades.

    I could have been wrong but would have been dead and not noticed anyway…

  7. The second I saw kids, the answer was yes. Also for the sake of your kids, toughen up your financial literacy and teach it to them so they can go out bit wier when they finish uni/training/enter the workforce.

    Also, go to the ukpersonalfiance sub reddit for further help.

    I thought you were single and childless like me, the second I saw kids, my 7.5 paragraph long ramble about the thought I had about my savings today deleted from my brain. Aren’t you lucky.

Leave a Reply