What would I ask older women about money? How to make sure you don’t have to rely on anyone else.

The first post in a new series.

Sep 23, 2024

*First step to a new anything seems to be making a lil graphic…*

Hi and welcome to The Ladybird Purse, my weekly newsletter about women and money.

I first thought of doing a series talking to a woman for every decade a while ago, but it’s taken time to a) come up with the questions, and b) find people to interview for each age bracket - from teens to, so far, eighties (but if you know of any women in their nineties who’d like to talk to me about money please hook us up).

Basically I wanted to see how money attitudes and experiences may or may not change through life. Starting with…

Teens

The most notable thing for me when I put out a call (via my Instagram and Facebook friends) for teens to talk to was that they all wanted to be anonymous. First names only! No photos! People seem to think teens live online and don’t worry about security, but perhaps that’s not the case.

And they’re all so responsible! Much more than I was at their age. (Also maybe now.)

Also I got a bunch of responses, so I’ve included them all to varying degrees. And in order of age.

Maggie, 15

What’s your earliest money memory?

I’m not sure how old I was at the time, but my earliest memory of money is when I had abt £5 to spend on holiday when we were staying with some family friends and I rlly rlly wanted a teddy elephant.

I found loads but I could never afford them with what I had until we finally found some in a shop that were exactly £5. I asked my mum how much it was, she held up five fingers and I was very very happy. I still have the elephant now and I carried it around with me for the rest of the trip.

What have your parents taught you about money? Intentionally or otherwise.

⁠My parents haven’t taught me anything specific abt money, just that it’s not the most important thing in life, it can’t buy u happiness and that I need to be careful with it.

Are you a saver or a spender?

At the minute, I would definitely say I’m a spender as I have nothing important to save for. But as I get closer to being able to buy a car and go to university, I do plan to start saving up.

Do you think you’ve made any money mistakes?

⁠I don’t think so, except maybe buying something and not loving it as much as I did at first. It happens a lot with clothes, I’ll buy something and it’ll rot in my wardrobe until it eventually ends up in a charity shop.

Do you have financial goals for the future?

⁠I don’t have any specific financial goals for the future, just to always have at least as much money as I need and anything more is a bonus.

What’s the best thing you’ve ever spent money on?

This is a very boring answer, but the best thing I’ve ever spent money on is a top I got about a year ago from Vinted. I fall in and out of love with clothes all the time, but that top has never let me down (yet).

What would you do with £10,000?

If I had £10,000, I would put a lot of it aside for saving and other more important financial issues, but a little bit of it would definitely go towards finding the perfect pair of jeans!

Is there anything you'd like to ask older women about money?

⁠I’d probably ask an their tips for younger women and money.

L, 17

What's your earliest money memory?

My mum creating ‘marble jars’ and when we were good we’d put a marble in an empty jar and carry on putting marbles in until it was full. The ones who had a full jar by the end of the week won £5.

What have your parents taught you about money? Intentionally or otherwise.

My parents both taught me to work hard for the money you get, and both of them taught me to save up, but there is no harm in treating yourself too, after all you earned that money.

Do you think you’ve made any money mistakes?

I used to spend all the money I got as soon as I got it, and therefore left myself with nothing by the end of the month.

Do you have financial goals for the future?

I want to be financially stable when I’m older, and have enough for at least one holiday every year.

What’s the best thing you’ve ever spent money on?

Probably going to see my girlfriend, as I have to spend money on the trains.

Is there anything you'd like to ask older women about money?

What tips would you give somebody wanting to save?

What would you do with £10,000?

Probably put it towards my rent or living in University, and anything I have left over would be put towards a house after Uni.

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Olivia, 17

What's your earliest money memory?

Getting money for my birthday in a card but I can’t remember how old I was maybe 10?

What have your parents taught you about money? Intentionally or otherwise.

I’ve never been sat down and talked to about money. I know to make sure I have money when birthdays or Christmas are coming up.

Do you have financial goals for the future?

I want to have savings and be able to buy my own house which is going to be difficult I’m sure. I don’t want to rely on anyone else for money

What would you do with £10,000?

I think I would ask my parents to help me save quite a bit, there is nothing I want right now but I’d want to have maybe £2000 available so I could buy things without worrying.

Is there anything you'd like to ask older women about money?

How to make sure you don’t have to rely on anyone else to have money!