Ensuring Our Kids Are Left In Better Financial Footing Than We Were

There’s a good chance that reading this, you weren’t equipped with the best approach to money or the foot up that many others got. You had to build it yourself and that is tough. Many don’t get their finances in order and learn to live responsibly. That’s not a future we want for our kids. For that reason, we need to look at how we really make sure they are left in a better position than we were.

Take the time to teach them financial literacy

Family Finances

It’s never too early to start teaching your children about money. As early as three, you can tell them what shops are and what money is for. As they grow up, you can lend them money, give them pocket money to save, and offer money for odd jobs around the home. This teaches them about finance, credit, savings, and earnings. They’re not going to learn financial literacy from school, you have to teach it from home.

Teach the value of work early

Family Finances

A lot of teenagers are growing up without ever having worked for money besides the pocket money they get from us. However, it’s important to teach that self-reliance as they become teenagers with a part-time job. It teaches them agency, responsibility, and the fact that their work is rewarded. Teenagers that work have an advantage over young adults who enter the workforce without ever having been interviewed, without ever having been part of a team, or never had a workplace authority that they have to learn to navigate.

Make sure your assets are used as you wish

If you’re learning about financial responsibility now, then by the time our departure from this world inevitably comes, we should have some saved up to offer our family an advantageous start to life without us. However, without dictating how that money is used, it’s easy for it to become a source of strife and to disappear before they can use it as you intend. Making a will and updating it over time to reflect changes in circumstances and wishes is important. The earlier you get your will complete, the easier it is to update. As soon as you have any assets or savings worth protecting, it’s important to do so.

Don’t leave them to struggle

We don’t like to think about being a burden to those that we leave behind. However, without life insurance, that’s what’s likely to happen. Life insurance pays for the costs of your own funeral arrangements so that your family doesn’t have to pay for it themselves. This way, you can make sure your own final wishes are respected, but without the risk of leaving those that you love coping with debt in the aftermath.

It’s never pleasant to think about your children’s lives without you around, but it is going to happen to all of us one day. Rather than looking away from the potential, we should embrace the inevitability and make sure we’re all in the best position to handle it.

Ensuring Our Kids Are Left In Better Financial Footing Than We Were 1


  • clairelomax2018

    June 8 at 9:38 am

    I’m working on a similar post following my Mum passing away last year.

    Thankfully hers was pretty straight forward and she had planned finances well. But it has certainly made me realise that I need to be a bit smarter about my own children’s future.

    Thankfully my 11 year old really gets money and can’t wait to get a part time job when he’s a bit older x

    1. Sabina Green

      June 8 at 12:12 pm

      I think it’s times like that when you suddenly realise you are the adult of the family, There’s so much to think about but great that your 11-year-old is planning ahead x

      1. clairelomax2018

        June 8 at 7:44 pm

        He’s got it all mapped out.

        Although we saw a police car today and he said in 13 years I’ll be in one of those!!! I was panicking a bit until he announced he wants to a police man!


        1. Sabina Green

          June 8 at 8:31 pm

          Hahaha that’s so funny, yes hopefully he will be driving it 🙂 xx

          1. clairelomax2018

            June 9 at 12:08 pm

            Let’s hope so ??

  • Charlotte – Mama Makes Do

    June 8 at 5:54 pm

    Really great tips here. My 3 year old “pays” for items in the shops and asks “how many” things are. He knows Mummy and Daddy work “to pay for things in shops”. Hopefully it’s all helping 😀

    1. Sabina Green

      June 8 at 8:33 pm

      Aw bless him that’s really sweet. We are being encouraged in school to allow our children to pay for things more and play ‘shops’ at home to help them with their understanding of money and help with their maths x

  • Zena’s Suitcase

    June 8 at 7:46 pm

    I was awful with money to be honest, so I make a real effort to get my kids to think about it from a young age. My son is great at saving and works hard for his money which makes me really proud

    1. Sabina Green

      June 8 at 8:22 pm

      You sound just like me, I wasn’t great with money either, it burned a hole in my pocket. I am now trying to teach my children so they don’t do the same and so far it’s not going too bad x

  • puritybelle

    June 9 at 12:18 pm

    This is an excellent post and I totally agree that it’s something we need to think about. We are pretty frugal as a family and I try to save a little bit for my kids’ future. The point about them getting a job is spot on too, it’s more real when you are trying to work out your own money and not just be given handouts.

    1. Sabina Green

      June 10 at 7:27 pm

      Thank you for taking the time to comment. My Mum was very good about teaching me money from a young age but I definitely learnt more once I began working at weekends from age 14.

  • Mandi Morrison

    June 9 at 3:43 pm

    Great tips, it is so important to think ahead for their futures too. Houses are so expensive, I really worry about them getting on the property ladder.

    1. Sabina Green

      June 10 at 7:28 pm

      That is my worry too, it was hard enough to get on the property ladder for us. I keep telling them they need to work hard if they want a nice house.

  • Lyndsey O’Halloran

    June 9 at 5:48 pm

    We have been in a terrible position with money and made some irresponsible choices. We’re now making sure that Erin learns to spend what she has and to save up for anything she wants.

    1. Sabina Green

      June 10 at 7:33 pm

      I know that feeling, I was not in a good financial position before I moved away but thankfully I sorted myself and felt proud that I did it x

  • Anita Faulkner – Brazen Mummy Writes

    June 9 at 7:45 pm

    It’s a great idea to play money games with the little ones, although I rarely use actual cash myself these days! It’s too easy to spend money with this contactless system – oops. Also love the idea of teenagers getting a little job. It certainly helped me to appreciate the cost of things. Xx

    1. Sabina Green

      June 10 at 7:35 pm

      I hear you, I rarely carry cash either. I toyed with the idea of getting the children those pocket money cash cards but I talked myself out of it because I didn’t feel it taught them anything and I didn’t want them to get into the habit of using cards to pay for things.

  • Helen Neale

    June 10 at 2:11 pm

    Great article. This is a topic I know I need to learn more about and you really helped me understand some good ways. Thank you.

    1. Sabina Green

      June 10 at 7:42 pm

      You’re very welcome, I hope it provides some helpful advice.

  • mommamack15

    June 10 at 6:29 pm

    We have been trying to teach our 6 year old about the value of money, if she has any she is desperate to spend it. We have been trying to help her understand that if she saves it then she might have enough to buy something bigger next time.

    1. Sabina Green

      June 10 at 7:45 pm

      It’s a difficult one to teach but once they grasp it, it’s so much better.

  • caitylis

    June 11 at 6:53 am

    My little one is too young at the moment to grasp the idea of money. But he does love pulling everything out of my purse so I’m sure he’ll learn soon enough, haha!

    1. Sabina Green

      June 13 at 9:48 am

      Haha, that’s such a fun stage, isn’t it 😉

  • mightymamabear2017

    June 11 at 1:10 pm

    These are great tips. Kids are never too young to learn the value of money, both earning it and saving it.

    1. Sabina Green

      June 13 at 9:38 am

      I agree we are doing money with our 6-year-old at the moment 🙂

  • Clare Minall

    June 12 at 11:18 am

    love this topic! every single one of them is such an important information. Thanks so much for sharing

    1. Sabina Green

      June 13 at 9:27 am

      That’s great to hear, I’m pleased you have found it helpful.

  • Mel Knibb

    June 12 at 10:02 pm

    I could not agree more! It’s so important to make sure our children are financially literate. I’ve been thinking of getting a bank card for my son when he turns 11.

    1. Sabina Green

      June 13 at 9:25 am

      I have toyed with the bank cards too but I’m not totally convinced it teaches them anything about money? x

  • Toni | This Mama

    June 16 at 6:23 pm

    Fab tips. Our eldest worked with his dad as a labourer on a weekend from about 14, now he’s 18 & in his last year at college. He still works with his dad on his days off & apart from paying board as he’s still studying, he pays for pretty much everything he needs himself. So proud of how he manages his money

    1. Sabina Green

      June 16 at 8:49 pm

      That’s brilliant to hear, you have taught him the value of a hard day’s work and money, just as a parent should. I would feel proud too x

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