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does baby/lo have a savings account?

Posted by on Nov. 20, 2012 at 2:48 AM
  • 5 Replies

Have you or anyone set up a savings account for your baby/LO? My MIL/FIL had my SIL open up a savings account for our daughter this past summer which is great but my DH and I have absolutely no access to it. We're not even allowed to check the balance. I'm not sure how I feel about that. There's no reason why we would need to get into it, and we never would, but it's just kind of weird that we have no info about it but my SIL has full access to it. I mean, it's their money, so I guess they can do what they want. IDK, what's your take on it?

                                

by on Nov. 20, 2012 at 2:48 AM
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Replies (1-5):
Mommy2Phenley
by on Nov. 20, 2012 at 4:47 AM

Yes, both my girls have accounts that were opened by MIL. She has money directly deposited into each from her paycheck. We have said since DD1 was born that we would add to it as well, but we haven't gotten to a point financially where we can do that, yet. But the statements are mailed to us under DD's name. So we can see the balance and have the account number.

Simplefancy
by on Nov. 20, 2012 at 7:26 AM
My baby is 1 month but were thinking when I go back to work and off disability well open an account for her and deposit a little money each check
brittanyx22
by Bronze Member on Nov. 20, 2012 at 7:29 AM
Yes. I put in $100 every month.
erikays
by on Nov. 20, 2012 at 8:09 AM
My MIL has for all 3. For their bdays, she gets them something small and puts money in their acct.
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Raeann11
by Gold Member on Nov. 20, 2012 at 10:15 AM

All my girls do, when they are born we get one for them. All the money we get for after they are born, birthdays, holidays or what not. It goes into there savings account.

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