5 Things all parents should do for their family

As parents, we all busy. We prioritise the wellbeing and needs of our kids over anything else. We’re the first ones up in the morning and the last ones to bed. But those tasks that need doing soon mount up - its not often I meet the bottom of my ironing basket. Other than all the household tasks, there are far more pressing matters I should have dealt with by now. Are you on top of everything you need to take care of? Here are my top 5 things that I think all parents should be taking care of for the sake of their family:

1 - Will

When my kids were born, I had a Will already. But now I have a family, I think there are probably a few changes I should be making. Not many parents consider their Wills at all. But if something was to happen to you, an old Will may no longer be appropriate for your wishes. If you know your kids should have certain keepsakes and heirlooms, then its a good idea to detail that in your Will to save any potential disagreements. The solicitors at Bannister Preston also point out that you can decide now the proportion of your assets to give to your kids.

will, insurance, education, pension

2 - Insurance

Life insurance is essential if you have a big debt like a mortgage. Without it, your spouse, or possibly even your kids could be liable for the repayments if they want to keep the house. Repossession is a very real threat if mortgage payments aren’t maintained. Life insurance can also cover the bill for a funeral. These often cost thousands of pounds.

will, insurance, education, pension

3 - Education Fund

Kids now stay on in compulsory education until the age of eighteen. This hasn’t been the law for long, so it’s difficult to tell if this will have any impact on the numbers of kids choosing University after. But if the money isn’t there to cover the tuition costs, chances are your child simply won’t have that choice. Education is expensive. The sooner you can start saving, the better.

will, insurance, education, pension

4 - Let Your Kids Get To Know You

Even though I have this blog, I don’t think it really speaks to my children about who I am and what my passions in life are. It doesn’t really speak to my children about my incredible love for them. Many parents set up an email account for their children when they are born. Then, once or twice a month, they write a quick email telling them about their day and the precious moments between them. I love this idea and I think I might give it a go soon.

will, insurance, education, pension

5 - Pension

When you have kids, every penny seems to go on them. But if you’re self-employed, or a full-time Mum, chances are you don’t have much in the way of a pension plan. It’s really important you take the time and the cash you need to secure your financial future. You don’t want to be a burden on your kids in the future. And most importantly, you’ll still want to spoil them rotten even when you’re grey and old!

I know it’s hard to find the time and the motivation to take care of some of these important tasks. But they are important. Take care of you and your family.

* Contributed Post

No comments