Do you/did you have a savings account set up for each of your kids?
or do they have their own piggy bank to save up instead??
.....or is it something you don't worry about while they're still little??
DH and I have had accounts for them since they were babies at our local credit union....every month we put the same amount of money into each child's account.
Not sure when they'll have partial/full access yet, we haven't had that discussion yet. I hope they end up deciding to not spend it as adults, but instead to just keep adding to the savings!
The day our daughter was born hubby opened an account for her(her own). She also has a change jar which she collects change all year and at the end of the year she takes it to her bank for deposit.
No savings accounts yet.. Mine don't really get money for anything.. They don't get money on Birthdays (they usually get gift cards, toys, or clothes).. My husband has 2 aunts who instead of sending them gifts or money they put cash into an account that they have set up but this is college money and not for spending here and there.. I actually prefer this.
My kids do have piggy banks for the little money they get but honestly if they want something I make them earn it by doing chores around the house and stuff like that..
My son has a piggy bank for all of the change and birthday money he gets. He is a scrooge and won't spend it but he likes having his money where he can jingle it. LOL. We also have a college saving plan for him. The money is automatically deducted from my paycheck (before taxes) each month.
Each have their own savings account - birthday money, christmas money, etc all goes in there and at taxes every year Dh & I put a lump sum in.
Plus they have their own little change banks to put spare change in that they find (or rather steal off my nightstand lol).
both girls have big princess piggy banks for their coins & dollars they find or are given.
We don't have a savings account set up for DD right now. She does have a piggy bank that she uses to save money and we have a "good girl jar" for her that she gets quarters added to/taken away.. so she saves money that way.
Yes this is something we have thought about and continue to think about. Once we get into the position we'll have a college account, savings account, emergency account and a wedding account set up for her.
They both have a piggy bank for saving their own money but I have a savings for them as well. I started stashing away extra when I found out I was pregnant with them. You never know when you'll have an emergency and need extra. It's mostly for their future though. Their own savings they can do what they want with.
What age should a child have a cell phone ?
- telecomgirl
on Jul. 13, 2012 at 7:15 AM