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Save even a little bit every month to weather any storms.

we have always been honest about money ,or lack of it, when my daughters were young so they have grown up knowing about budgeting for bills etc. Now we are older we have discussed funeral plans and power of attorney but have not completed this yet

We have not discussed our finances with our 3 adult children or made a will. 2 of our children are very good with money and have no problems while the 3rd recently applied for IVA as they lost their job due to covid closures.
I think perhaps we should make a will. All my account details from savings etc are filed in the house so family could trace them easily should I die or become unable to manage my own affairs.

We have always been very open with our children about money and what we have. They know about our wills and our paid for funeral and although they are both very good at managing money, they know we are here in an emergency

I have always spoke to my children since they were small about money. When they got money to think before they spend it. Did they really want the toy or game and his long they would play with it and would the joy last when they had spent all the money. They soon learned that it was good to see their money grow and that if they still wanted to spend some of it then that was a good thing too. As they hit older I would always say to them to err on caution when it came to investing. To ask themselves can I afford this and can I also afford to lose this if it doesn’t come to fruition. I have lived by this moto. I was brought up myself with this. If in doubt don’t do it. Money can be a two edge sword, it can cause a lot of heartache and hardship but the other side it can be your best and only friend in a storm! Being an only child, I was never spoilt as so many people think but that I was brought up very strict and soon realised that I would have to stand on my own two feet and that no one would come to my aid if I had money troubles. I learned to respect money and to value my parents teaching but not to let it rule my life but to guild me to survive in life.

After losing my husband. I have spoken to mine about money. I have made a will and have written important stuff in a log that they both know about. I have always been a careful spender and I tried to bring my girls up with a reasonable attuite. My girls have families of their own and I don’t get involve in their money decisions. I have however helped them out on many occasions. I feel that they both waste their money at times but my Mother was very controlling and critical of my money management so I will not take that stance with my girls. They both work hard and I feel it is their money. They dont have any prblems taking about it and find it easy to ask me for it, so do my grandkids LOL

Just a note for those mentioning it. A POW ceases on death, it is only for your lifetime, so that's when a will comes into force. If you haven't got one, please make one for your peace of mind and those you leave behind. It can be extremely difficult for those left when there is no will in place!

I discuss things with my partner and daughter. I also lend money if they need it, but not for things like holidays or weekends away, that is there responsibility.

As parents we always try to give good advice about everything including money to our children. We worked hard all our lives for them. Our savings is there when they need. We gave tthem money to to buy and upgrade their life, house and business if they have one. We do it even we don’t get acknowledgement which we need sometimes even though we rarely get them. That’s life

Some people smugly say that they manage all the household finances. Unfortunately I know a few people whose partners have died, leaving them not only bereft, but clueless too.
It’s important that not only your ‘other half’ but at least one other family member knows where to start in the event of your death. Otherwise the sadness of losing a cherished family member is heightened by the stress of trying to sort out financial matters too!

My adult children tend to spend everything that comes in . I try to encourage them to save but I think it falls on deaf ears. Perhaps as the get older they will think more about the future and heed my advice.
As for inheritance, they know that what we have is split equally in our wills. We have told them which solicitor holds the paperwork, although we don’t dwell on these conversations.

I have 3 spendthrifts and one saver. I wish the others were more like the saver but no amount of persuasion helped. 25% is a pretty poor result especially for a squirrel like me. Tried to teach them when they were young but failed miserabley.

We have organised our finances and other affairs with our son so should the need arrive we or he won't have to have awkward conversations. However this sonds like an excellent idea as we had some sad conversations with both my mum and dad when the time came to organise finanaces regarding financial affairs.

I think my sister thinks I get too much money and sometimes has digs about it; e.g. - if the old age pension goes down then I won't have as much money, and she can get a bit snide sometimes about my money . This leads to me keeping my own counsel about my money.

I go by the mantra you can only spend it once, so enjoy it. I was taught to work hard to achieve. Money I have found is easy to manage

It's never an issue discussing with my wife and we do try to expose the kids to our conversations whilst ensuring they understand the privacy aspect and the consequences of decisions that have to be made.

I think my daughter knows we have savings. We helped her buy her house but she doesn't know exactly how much.

I deal with week to week finances and If we are making a large purchases then we run it by each other but usually end up on the same page, if we want something then we save for it, we have never had a credit card, our girls are savvy with their money and have done really well.

Don't be greedy and don't spend more than you can afford.

It makes it difficult that I live apart from my husband and can’t trust what he says is in his will and can only hope that our mirror wills still are mirror wills. I talk freely to my children, two of whom who are my executors but I do worry that they will be all at sea with my bills to pay etc. when I die. They have POA in case it’s needed before that day comes.

I pay all the bills - I’m the organizer in the family. My husband and I don’t discuss personal money but we do talk about and agree spending on things like holiday costs, and events eg Christmas, birthday. I try and help our grandson (who lives with us) to understand that money doesn’t grow on trees . He earns money, on top of his pocket money, by doing tasks or doing well at school. Our son doesn’t need our help, he's got his own family and manages his finances well. He has power of attorney and is the executor for our wills, as is his eldest son.

I have always dealt with our finances not my husband and I have always been hood with money getting the best savings rates etc but of our 2 children one has always been rubbish with money and had so much help and support and borrowed endlessly while the other is much better with money.
I have never had to give control to anyone I am glad to say .
I always felt I had a good grounding from my own parents by example not by any conversations but it does sink in I feel .
I think it took me till my twenties to get really good with money

We have been really open as the kids were growing up talking about budgeting etc, and now they advise me on how to compare companies to get the best deals and now they are all way more savvy than me and the Grandchildren all have their own accounts for saving.

I worked in finance so handle all household money. I do tell hubby what I am doing to keep him in the loop. My son and hubby know where our wills are and I keep a list of savings and financial adviser details in the same place.

Openly and honestly - maybe paranoid but I tell my family who our utility companies are, who we bank with etc in the event I'm not here one day since I manage it all usually.