Additional Money

 

This is the Additional Money Blog section because when you have a child with additional needs you need additional money. You are planning not only your own financial future but also planning ahead so your child with additional needs has choices when you are no longer around. Like it or not having choices often comes down to money. Here you will find information and resources to help you plan a financially secure future for your child.

It’s important that you note our disclaimer. The material presented here is for informational purposes only. We are not qualified or regulated to give financial advice and don’t claim to be. Every family’s situation is different, and so you should seek qualified, professional advice from a tax or financial advisor who understands your unique situation, and then make your decisions accordingly.

Why Cash Is King Mar 23, 2018 - Employment was pretty much the theme of Episode 30 of the podcast, All About The Beer @ Ignition Brewery which was all about Nick O'Shea's experience setting up Ignition Brewery. One of the things he seemed disappointed about was the lack of support from charitable enterprises, especially as many of their Continue reading…
Why Your Child Needs A Bank Account Now Feb 23, 2018 - Having a bank account is one of the basic access points to society.  If you have income this is where it goes and, if you're like most people, your expenses come directly out of your account either through bank transfers or chip and pin/contactless purchases. Many children get a  bank Continue reading…
Child holding paper house in hands against spring green background When Inflation Is Your Friend Jan 26, 2018 - Buying a property is the goal of most of us but it seems so daunting – huge price, mortgage, debt.  As parents we might feel even more daunted because we face extra costs looking after our child with additional needs. Added to this, we are also likely to be trying Continue reading…
Rethinking Retirement Dec 8, 2017 - Retiring how I want means rethinking how I retire. I’ve grown up with certain presumptions about what people do when they retire, but rules for everything are changing. We change jobs according to the statistics between 12 and 15 times in our work lives, so why shouldn’t we change the Continue reading…
My Life Expectancy And Expectations Nov 17, 2017 - I tease my eldest daughter that I’m going to live to 105. That means we will both be retired at the same time, assuming the retirement age doesn’t rise above 70. But there is a financial problem with this idea because I'm not sure I can actually afford to live Continue reading…
Pyramid made of dollars and pink piggy banks. 3d rendered. Isolated on white background. My Six Steps To Security Oct 6, 2017 - My journey through money mistakes has been costly. Sometimes I’ve just been plain silly. But the difference is I’ve learned from my mistakes. So what  are the six steps I have followed to get me on the right track? The first is to actively manage my money. A budget. Sounds Continue reading…
Why Long Term Savings Matter Sep 8, 2017 - Long terms savings provide long term security is nothing new. But for me as the parent to a young person with additional needs it gives me the knowledge that if I get the majority of everything thing else right in raising my daughter to have a sense of her own worth and Continue reading…
Hand Putting A Coin Into Piggy Bank In Front Of Blackboard Showing Graph Purposeful Saving Aug 23, 2017 - Every once in a while life dishes up large, one-off expenses that can de-rail all our plans.  If my plans were de-railed, then it could well affect the future of my daughter with additional needs. Things that she needs might not happen. In the next few years she will leave full time Continue reading…
Financial recovery and getting out of poverty with the word debt as a sinking hole in the ground and a red ladder as a helpful solution and answer to the finance and business problems on a white background. Dealing With Debt Aug 16, 2017 - When I held debt, debt actually held me. It held me pretty tight actually. Each month I had my living expenses and right next to that was my debt repayment. Perhaps it should have been called debt burden. That’s how it felt like to me. As I mentioned before in Continue reading…
Opened safe with money Why You Need Three Months Living Expenses Aug 9, 2017 - If for some reason I was not able to work tomorrow for whatever reason, I would want to know I had money in place to pay my bills at least for a few months, until I could work out how to move forward or went back to work.  To me Continue reading…
Emergency Fund Text In Front Of Piggybank With Banknotes And Coins Emergency Fund Aug 2, 2017 - Having an emergency fund for those unexpected disasters that happen to us all is wise, but for those of us who have children with additional needs it's essential.  We are often only one unforeseen opportunity away from something good to happen or one unexpected event away from something not so good Continue reading…
drowning pink piggy bank sinking in blue water with a life buoy My Biggest Budgeting Mistake Jul 26, 2017 - Was thinking I’d arrived.  There I was in my early twenties, just moved to London with a well-paid job in IT.  That was the 80s.  We all (my friends at least) spent on stuff – cameras, gadgets and whatever we wanted.  But the credit card bill soon caught up with Continue reading…
Piggy bank saving for holiday No Debt Holidays Jul 19, 2017 - It's coming up to the summer holidays for us here in the UK and so holiday planning is in full swing. I’ve been listening to the Dave Ramsey Show podcast  recently, and his golden rule about borrowing.  He believes, ‘Cash is king, and being debt free has taken the place Continue reading…
How Pensions Work Jul 12, 2017 - Putting money into pensions can be a leap of faith, but I think it's a leap we should make for our children with additional needs.  Sometimes our children are vulnerable financially, and while we may have short term plans for their finances, the long term one of a pension will Continue reading…
A SMART House Deposit Jul 5, 2017 - One of the ways I can secure the financial future of my daughter with additional needs is to make sure those around her are also secure.  That means us, obviously.  But also her sister.  We all love our children equally, and so that means helping them all equally. But that Continue reading…
Pension Planning – The Missing Years Jun 28, 2017 - Missing out years of work can seriously damage your pension. Not just your workplace pension but also your state pension. Worse, if we are not getting as much pension as we're entitled, it means we may not be in such a strong position to help our children, with additional needs, when they need us Continue reading…
When Money Has No Value Jun 21, 2017 - One problem my daughter faces with money is its value. She can add up the numbers on the front of the notes, but she doesn’t always have judgement about whether something is expensive or not. Inside her mind isn’t that checker that says, ‘Ten pounds for a coke, no way!’. Continue reading…
Why Compound Interest Is Sexy Jun 14, 2017 - This week our theme is fashion and I was trying to find something fashionable to talk about in the money blog. In the end I picked compound interest because it is so often ignored. Compound interest isn't a runway model or even the fashion designer it's more the stage manager behind the Continue reading…
How To Become A Millionaire Jun 7, 2017 - Becoming a millionaire is easy, I tell my eldest daughter.  Just save 10% of what you earn.  Nothing more, nothing less.  But 10% of every single thing you earn, ever.  Sounds so so easy, and it is when you’re young, but at our age it’s a little tougher. I’m thinking Continue reading…
Do You Really Have Any Assets? May 31, 2017 - Most children have one thought about money: Spend!  Or even three: Spend! Spend! Spend!  Perhaps this is natural, a first part of freedom.  It certainly was for my eldest daughter when she could first go around town after school with her friends.  Money put the fun into shopping. And when Continue reading…
Zero Credit Score To Hero Credit Score May 24, 2017 - Credit scores, credit histories and credit ratings may seem alien to my daughter, but her credit score will matter. She won't be able to navigate independent life very well without having one. Yet it is often easy to presume that a young person with additional needs won’t actually require one. Continue reading…
Save Yourself First May 17, 2017 - During the pre-flight safety briefing the flight attendants always say to parents that if the oxygen masks should drop down, ‘Put your own mask on first then look after your children.’  In effect you can’t help your children unless you first look after yourself.  I apply the same philosophy to Continue reading…
How Much Are You Worth? May 10, 2017 - The UK’s Rich List came out this week, and I'm not on it.  But it has made me think about my own net worth. This Sunday Times list is still dominated by financiers, hedge fund managers and property tycoons, but there is a good smattering of people we might be Continue reading…
IHT 5 Things I’ve Learnt About Inheritance Tax May 3, 2017 - I don’t want to be overly morbid but someday I will die (but not in the near future I hope!). This, and knowing I have a daughter who might be vulnerable financially, has made me think and ask questions about exactly how my estate will be taxed when I'm gone. Continue reading…