Finance Round-up: Doing it for the kids

For this month’s round-up we’re focusing on the kids – letting them deal with their own money and sorting out our finances so we can spend more time with our children.

Once you start a family your financial situation changes very quickly. Along with reduced income comes increased outgoings on your new children. As we all know they don’t seem to get any cheaper over the years! A tricky decision to make is when should you start letting your kids take some financial  control for themselves?

Natalie at Plutonium Sox has been asking What age should I give pocket money? Her daughter is just three but she has started giving her a small weekly amount. Jess from Tantrums to Smiles has also been pondering the question Pocket Money…Right or Wrong? for her five year old son.

As well giving out a certain amount of pocket weekly there’s also the theory that children should earn their allowance through doing little jobs around the house. Kaz at Ickle Pickle’s Life and Travels has been testing the new Jangle app for children.  This app allows saving pots which can be filled with money in return for doing chores.

Letting your children have money through either pocket money or earning though chores is one thing but they also need to know about it. Shahnaz from Mummy Be Beautiful has been teaching her children about money and has some top tips about learning about money and saving.

Do you talk to your children about money? Do they get pocket money?

Of course it’s not just the kids that need to learn how to deal with money. Being a responsible, financially savvy adult is hard! Emma at From Aldi to Harrods has been working out how to deal with her salary and bills now she is married. A task made more difficult as she is paid weekly and her husband is monthly paid.

When our children arrive in our lives it’s time to reevaluate our priorities and how to achieve the perfect work/life balance. Many of us mothers like to think that life will pretty continue as usual with us going back to work and earning the same salary as before maternity leave. The reality is often quite different but the problem is we all need money in order to get through everyday. Emma from Emma’s Savvy Savings has been writing about how she has changed her career and family lifestyle so she could have a reduced salary but be able to have more time with her family.

Also trying to make sense of the whole work/life balance is Shereen at Mama Ain’t Rasin’ No Fools. As a qualified solicitor she could easily go back to paid work but she has put her reasons as to Why it’s Selfish for Mothers to go Back to Work.

If you’re wanting to stay at home with your children it’s time to make your house pay for itself. Liz at Me and my shadow runs down her list of 8 Ways to Make Money from Your House. 

Once you’ve done teaching the kids about money and downscaling your lifestyle it’s time for some relaxation and fun. Even that doesn’t have to cost much money once you’ve got the initial set up as Cass over at The Diary Of A Frugal Family has found out. She has shared with us More ways to get free and super cheap games for your Xbox.

So that’s February done with and now the whole family is clued up about money, right?! If you’ve been blogging about family finance and would like to included in a future round-up then contact me on Twitter or through my Facebook page.