Financial planning with a six year old…

When I saw this recent research I thought it would be fun to find out Madam’s future expectations, (there was no point asking E as he is living at home forever and never getting married) even though her answers made me giggle a little inside I’m not sure they’re quite as far off the mark as they seem…

She’s recently changed her mind from being a make-up artist to a writer, how proud am I? This job is going to pay her £100 per year which is probably closer to the truth than I dare calculate and the same expectation as 1/3 of six year olds. That’s a cheap work-force in the making!

She expects that her first house, which she won’t be buying until 30 will cost £5000! Initially this price sounds like the dream scenario but remember she’s only earning £100 a year; taking into account an average mortgage lending rate of 4x the annual salary, her dream house is out of reach by almost exactly the same percentage as mine!

We’re off the hook when it comes to buying her first car as she expects her husband will buy her one at 29, just before they buy a house? The car will cost £100 which again sounds incredibly good value but remember this is a writer’s entire annual salary!

I was really surprised she under estimated her answers considering her usual attitude to spending is ‘it’s only £50′. One rule for my money and a different for hers I feel…

So how do your little one’s expectations add up?