I was pondering recently whether we are in the minority because we don't have any savings speak of. We have a very small disposable income and having been silly with money in our youth have never managed to save up a rainy day fund. We have a very bad habit of relying on the credit card if we need and emergency repair or other mishap sorting.Every year we say we are going to try and accrue some but we always find it's the case that if we do manage to save a few coppers then something will break so we have to blow the savings on that.
I do wonder whether the ability to save is a genetic trait, either you can or you can't. I'm very much a splurger!! I've always found that money burns a hole in my pocket, I love shopping and always have something on my wish list - very rarely are the items on my list extravagant but there is usually something I am hankering after.
I can't remember ever managing to save up for anything unless you count selling things on eBay until have the amount I need - that's how I raised the money for my iPad.
My sister is exactly the opposite and from a young age she liked nothing more than counting her growing collection of pennies into her red cash tin - she now is very good with money, so it's my opinion that you can probably tell early on whether your children a going to be a saver or a splurger!!
However, I must confess that the advice given to me by the 101 year old lady in the pub on my birthday springs to mind - she said "Let me give you some advice, my dear. Spend your money. Don't save it. Spend it and enjoy. Don't save it like I did. It's no use to me now."
Maybe she had a point....