Three ways you can start saving for your child’s future today 1 year ago

Three ways you can start saving for your child’s future today

Backed by AIB.

It’s true what they say. One minute you’re holding them in your arms wondering how they’ll every grow any bigger than they are now, then boom — before you know it they’ve started school, swimming lessons, guitar lessons, need constant new shoes and clothes and have a better social life than you’ve had in years! And yep, it just happens like that, right in front of your eyes.

As well as parenthood being one big emotional rollercoaster, it’s hard not to also be hit hard by the MASSIVE expense of it all.

That’s why it’s a good idea to start to think about savings and how they might help you navigate the expensive (but brilliantly rewarding) road that parenthood is. And with that in mind here are three sure-fire ways that will help you to start saving for your little one's future today.

1. Save those birthday fivers

You wouldn’t be the first parent to spend a fiver from your child’s birthday card on a cappuccino and apple slice when your own wallet has seen better days. And hey, that’s OK, – you deserve it! But here’s the thing, trying to save the kids' birthday monies is a really good way to start saving. Saving the odd fiver like this might seem like small fry, but like any type of savings, it will soon start to build.

2. Put by a little bit every month – and do it by direct debit

Putting aside a little every month is made so much easier by opening a specific saving account where you can transfer little amounts every now and then, but the real key to savings success is creating a habit and saving monthly. We’re not suggesting you save all of the Children’s Allowance money unless you can afford to, but could you save a small amount of it?

Consider it food for thought, and as with any type of savings, saving by direct debit means it will happen before you even have a chance to think about it. Another tip is to set the direct debit up for the day that the Children’s Allowance hits your account, so after a little while you won’t notice the amount your saving as it’ll be whisked away before you get to spend the rest of it!

3. As they grow, sell ...

Cot and double buggy taking up way too much room in the garage? If you don’t intend to use them or any other baby/kids related gear again, why not think of selling them and use the cash as savings for when you’ll really need it. Starting a ‘as they grow, sell’ mantra is a really positive thing to do as it’s not only a great way to make some cash, it’s also a great way for someone else to pick up a bargain and for you to de-clutter because, let’s face it, none of us have enough space, right?!

Saving for your little ones future can be hard when money is tight, but there’s always a way to stash away a little bit of money for a rainy day, or for when they start big school or even college! Start today by opening an AIB Online Saver and watch the pennies turn to pounds/euros!

Backed by AIB

Start saving for your child’s future today with the AIB Online Savers Account. If you’re an AIB customer then you can set it up in minutes through the Mobile Banking App or Internet Banking. Terms and conditions apply. Visit AIB for full details. Allied Irish Bank, p.l.c. is regulated by the Central Bank of Ireland.