Sponsored post - Passing down financial advice

I like to think that as a couple we are quite good with our finances. The only debt that we have ever had is our mortgage, apart from a few interest free loans when we first started out, buying a car and large pieces of furniture. I was lucky that my parents were very financially aware, and they passed down lots of helpful advice. I've always known the importance of not getting into debt if you can avoid it (apart from that inevitable mortgage!), and I've had the benefit of them helping me to look around for the best places to save and invest any spare money that I might have had, while stressing the importance of keeping accessible savings.

When I was a teenager my parents trusted me with a monthly allowance, beginning at £60 a month, which was to pay for everything that I needed apart from school things - clothes, toiletries, books, going out and so on. I supplemented it with the money that I earned from a small part time job at the library. I loved the responsibility, and it definitely made me much more aware of how much things cost as well as having the freedom to choose how I spent my money. I also felt guilty when my school books and art materials were so pricey and I had to put in an expenses claim for them!

Since meeting Ram, I've become much more aware of the importance of shopping around. He can become somewhat obsessed with finding the best possible price for something, whether it's a packet of dishwasher tablets or a foreign holiday. Sometimes I do complain about having to do the weekly shop across three different supermarkets, but I must admit that over the years we've saved a great deal of money. We have also become very good at shopping in the sales, and we always have a stack of toys that we've bought for the children at bargain prices ready so that when a birthday or Christmas comes up we can shop from our cupboard.

These are all things that I hope to pass down to my own children. I'm very keen to try and teach them the value of money, although I must admit we've been putting off starting a regular pocket money habit! They know that they can't have everything that they want, and we try not to spoil them too much. We go on quite a few day trips and outings as a family, but the most we will ever buy them from the gift shop is a postcard, and we always take our own sandwiches everywhere! I'm hoping that they will pick up on all of our little money saving habits.

I think that my children are too little for their own current account just yet, but we'll definitely be opening one for them once they start receiving regular pocket money as I think it will be a great way for them to keep track of their money, and with online banking they'll easily be able to watch their savings add up and plan how to spend them!

This is a sponsored post.