The boys saving plan – update 1

Regular readers of my blog may have read last week that we have been teaching the boys about the importance of saving. They are participating in a month-long saving project, designed  by Family Investments.

We started the project last weekend by giving them £2 pocket money each. Son1 had chosen to save for a WiiU game and son2 for a Chelsea football kit. I had no idea regarding the cost of football kit, so I had a quick search online and it looked like we were talking around £35 – £45. Seeing the pictures helped son2 decide that it was the home strip that he wanted.

Later whilst out shopping on Saturday they both spent £1 on a pack of Match Attax cards each. We then popped into Sports Direct where I discovered football kit was much more reasonable than on its website. I bought the Chelsea kit for £10.99 and I will give it to son2 once he has saved enough money. We also had a look at the range of WiiU games in Game. We didn’t buy anything but son1 now knows that his target is £34.

Then on Sunday when son2 was helping Daddy with the shopping, he came back with another pack of Match Attax for each of them. Old habits die hard and since they had been bought, son1 also wanted his pack. So that was all pocket money spent in 2 days with none saved during week 1.

So when we handed out pocket money this weekend, they had both earned a bit extra than the standard £2. We awarded son1 just an extra 50p for his initiative of heating up the wheat bear when Mummy was feeling a bit out of sorts. He hadn’t done any jobs, but that was a clever idea of his. And we awarded son2 an extra £1.50 as he had been helpful with shopping and putting his own dishes in the dishwasher. We also told him that it would have been £2, but had been reduced due to naughtiness.

The boys put the money in the piggy bank and filled out their savings charts with zero saved for week1 and their new income for week2. They both declared that they were going to save all their money from week2. And son2 went a step further, saying he was going to save everything until he has £10. He is obviously thinking about that Chelsea kit hanging ready in Mummy’s wardrobe, but we shall wait and see.

You may click on the savings planner image below in order to download your own copy.

Disclosure – this post is an entry to Family Investments blogger competition. We received some free products in order to participate.