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Before anyone jumps up and down on me about Scotland, the title is a little bit of a joke. I am engaged to a Scotsman and I can reassure you that they are very friendly!

However, the nice folk over at Scottish Friendly have also put together a helpful guide and video to help answer questions about the new ISA's that the government have recently announced. Saving for our children's future has always been important to us and with the Chancellor announcing in his budget that from 1 July 2014, ISAs will be reformed into a much simpler product, the New ISA (NISA), we thought it was time to look at it again. 

Apparently, all existing ISAs will automatically convert to a New ISA. Meaning those already saving and investing into an ISA will benefit from the changes. So it really is "nicer".

I know that there are lots of families consciously save for the future, whereas others believe in living for today by spending what they earn and I suppose I fall somewhere in the middle. My love of shopping for myself and the girls (and the Scotsman too), is no secret but I am always aware of that rainy day or "college" fund in the distance and an ISA gives me the freedom of saving but with easy access in case I need it!

Scottish Friendly

 also have a handy video that tells you more:

 

 

So what about you? Do you save for the future or live for the now?

 

This is a collaborative post but we thought that as money saving is so much of a focus for parents, that we wanted to share!