It's never too early!
Children are expensive. On average a parent will spend over €11,000 to raise a child to the age of 18 in Ireland. All the nappies, clothes, food and education really add up .It’s a good idea to start saving for your child’s future as soon as possible.
“One thing a colleague of mine said to me when I was delighted because my creche fees were coming down she said ‘You are used to paying those create fees now what should do is take the difference and put that straight into savings.’.”Unfortunately stuffing some extra change under your mattress is not the best way to create a savings account.
Cliodhna says the best way to combat this habit is to just make an automatic deposit at the start of every month.“If you put in at the start of the month and set up that direct debit, it happens automatically and then the money isn’t in the account to be spent.”According to Cliodhna the biggest mistake people make when starting their savings plan is not taking risks. She doesn’t mean taking a trip to Vegas and hoping to double your money in a game of Black Jack.
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