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Would you put some of the money from your income tax away for your child if you get a large amount, like a savings or a trust fund?

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Asked by Anonymous at 1:55 PM on Feb. 2, 2009 in Money & Work

Answers (4)
  • I dont know what you consider a large amount, but if we just got our tax's back and opened our daughter a cd account with $250.00. I would have loved to have put more in, but had to use the tax money for other stuff that needed to be paid. My daughter does already have a savings account though and we will keep taking money from her savings and putting it into her cd account, which she cant really touch until she is 18.

    Answer by asholan_07 at 1:59 PM on Feb. 2, 2009

  • My credit union has a kids account/program called Captain Cash. It just introduces them to saving and all that. I will open him one of those with the money in his bank and maybe like $50 of mine. But not with my refund. We have been planning this anyway as soon as his bank is full.

    Answer by Anonymous at 2:11 PM on Feb. 2, 2009

  • I always put back some for my savings,my childs savings,and an emergency fund. Her savings is what she can use for a car,college, etc. Its always good to save money,I'd hate for her to have any money problems. I learned the hard way,so I want her life to be far easier. I already teach her how to save,spend wisely and manage money.

    Answer by sweetest-sin7 at 2:23 PM on Feb. 2, 2009

  • No not yet.
    Next year we probably will though.
    We feel that it is important to take care of our family first including being debt free and having a fully funded emergency fund, before saving money for our child's college.

    Answer by Anonymous at 12:06 AM on Feb. 9, 2010

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