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Financial planning?

How do you prepare for your child's (or children's) future? Do you have a savings fund set up or something more? just curious...i'm trying to do the same for when my child arrives. i guess it's never too early to start.

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islandmom85

Asked by islandmom85 at 7:06 PM on Sep. 19, 2009 in Money & Work

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Answers (6)
  • We have a savings act for my daughter and all of her gift money goes into that. We also put in a little out of our paycheck every month. I am so glad my parents did this for me and I want to do the same for her. Especially because we can right now and who knows if we will be able to continue putting money in.
    ashleyuc07

    Answer by ashleyuc07 at 7:59 PM on Sep. 19, 2009

  • my parents had savings accounts for each of us, and now they have life insurance on all the grandkids that they can cash out when they get older. i'd like to start a savings for each of my own but it's just not in the cards right now.
    MHaney1980

    Answer by MHaney1980 at 10:36 PM on Sep. 19, 2009

  • if i had a dime to save i would. i always like to have a cushion so if i can get a good job i will always have at least 5 k in the bank and put a little in a savings account for my son each month if possible..my parents did this for me whcih paid for some of my first car and the rest i worked to get.
    soveryconfused

    Answer by soveryconfused at 12:54 AM on Sep. 20, 2009

  • My son has a savings account. (I just realized that my daughter doesn't have one yet) Yikes! He also has a couple of piggy banks that we put any change laying around in. I recently started working from home to help us out. Our goal is to have a big savings account for our children when they get older. We don't want them to have to pay for college. We plan on starting to give them an allowance when they turn 5 and teach them to donate, save, and then spend. Best Wishes on your upcoming arrival!
    mommy2joeynabby

    Answer by mommy2joeynabby at 1:44 AM on Sep. 20, 2009

  • i really would love to set something up for my little one. I would want for better for him then me. i suppose n e thing u can do would help. it all pays off in the long run. thanx to u all for well wishes. and same to you!! <3
    islandmom85

    Answer by islandmom85 at 2:41 AM on Sep. 20, 2009

  • I have a sharebuilder account with ING.com. they have educational savings accounts for children.
    Anonymous

    Answer by Anonymous at 11:01 AM on Sep. 20, 2009

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