With 3 children, we tend to try and put away something for a rainy day. And as you know in the UK, there are far too many rainy days. So, we tend to perhaps put away for the heavy rains. Things like college fees are high up on the list.
However, we do also put away some funds for things that we know we’d like to splurge on like occasions, celebration of important birthdays, anniversaries – things that probably do not cost that much but still need a signficant amount that is not catered for in the yearly budget. Miscellaneous expenses? No, I’m not talking about kids’ birthdays each year. I’m talking about a 21st Birthday celebration that would involve going the extra mile to make it memorable.
To be honest, I probably would not spend that much on a party but instead give my children a gift that they would really need – maybe a car or a holiday experience? And yes, for this I would really need to put away.
Then there are those important milestone anniversaries – celebrations that bring the family together, that perhaps calls for a get together of relatives coming from far and wide.
And of course – a wedding. I’m not thinking of this right now but yes with the children growing as fast as they are it’s something that maybe on the horizon.
Before that I’m looking at graduation day where perhaps I’d like to give the children something special and that would involve a sizeable amount of money to be spent.
To have savings, I do need to look at investing wisely so I normally look online for the various plans being offered. I hope that when the time comes to celebrate in a big way, I shall have enough to make it special.
Disclaimer: Collaborative post.