Little man is starting school in a few days – you might have noticed by our “Back to School” blog posts – we are excited about his milestone and we cannot wait for his first day. While we are getting his uniform ready, I start thinking about his future, he is growing up so quickly, after school he will be going to college, then hopefully to university.
It seems like yesterday when I found out I was pregnant and now he is going to school, so I’m sure he will be going to university in no time. Of course I want him to grow up, but I worry whether we will be able to afford the university fees, it is already really high and it could get even higher by then.
I am looking into our savings options and I have noticed that I could get a two year fixed rate cash ISA with Lloyds savings account. If we manage to save up some of the tax year saving allowance, currently £5760 in this tax year, we would have enough money for his university fees in no time. We might even be able to throw him a party to celebrate his milestone.
I am aware that saving money might not be easy, but it is a matter of saving today to enjoy tomorrow. I have previously shared our Top 30 Money Saving Tips and I shall be using them so we can save as much money as possible. It is all about making little changes to our lifestyle, shopping around for the best price and being creative in order to save money.
I am also teaching little man the art of saving, showing him how powerful savings can be and that it is worth sacrificing a purchase today so you can make an even bigger purchase tomorrow. I keep telling him to “look after his pennies and the pounds will look after themselves”. We will be saving for little man’s university fees.