Worrying for our children’s futures.

As adults, I think it is an inbuilt part of our psyche to worry. We worry about bills, money, our health and our jobs. But mostly, we worry about our children. As a mother of a teenager, I constantly find myself dithering about him. I worry about school, if he has friends, I worry myself sick when he is ill. But what really worries me is when I begin to think about his future. What sort of a life will he have, and what will the world we live in be like then?

A survey carried out a few years ago by My Voucher Codes asked people what most worries them for their children’s future. There were lots of different concerns that came up, and some of these had a topical, or geographical slant. It is no surprise that parents in the South East of England were worried about house prices and high Rents, worrying if their children would ever get on the housing ladder. Some places were also clearly worried about extremism, terrorism and safety – no real surprise in the increasingly unstable world we are living in.

Finance – An UGMA Account

One way that you can alleviate that worry is to plan for your child’s future by saving a nest egg for them.  One way to do this is with an UGMA custodial account. As this might suggest by its name this is an account managed by an adult on behalf of a minor. This custodial account can go far further than the average savings account, as it can also work in and invest in stocks that can be held in trust can hold investments until children come of age. Financial security is one of the biggest fears for parents, it’s great that they can add some security in place for their children.

Other concerns

I was most interested to read the results from the West Midlands, where I live. There, a huge number (71%) said that their main worry was financial instability and the economy. I have to totally agree with this. Unemployment figures are very high in parts of the Midlands, with lots of boarded up shops and pubs, and many factories and businesses closing. The unemployment rate is supposedly falling in the area, but those figures do not take into account zero hours contracts or short term employment. Certainly, the rise in food banks, including one in my own village, do not fill me with positivity, and I worry that this will only get worse as Joe grows older.

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