Any recommendations on what bank to get them at ? Also anyone else save money for their kids using any other methods would love to hear them. I’m located in California.
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I use my savings account for my kids. Checking account for myself only.
Any tax money or other income they may get meaning if anyone else gives them money, it all goes into checking. I keep track of my money and theirs separately. Wells Fargo is the bank.
You can open sub savings accounts under your existing account or a whole new account that requires 2 signatures (yours & theirs) for withdrawal. Deposit money they receive as gifts, earn doing chores or rent you may charge them when they are older. Charging them teaches them before they leave the nest. Saving that and giving it back will help them begin their own life without struggling paycheck to paycheck.
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Our bank has a kids club account and the kids cant take it out til they are 18 unless a parent is with. And also has christmas club accounts where Jan 1st u can start saving for Christmas and cant pull it out til December 1st
Some banks will let you open savings accounts with yours and your child’s name on it when your child is still a minor. This way you can deposit their money into the account and accumulate interest. Then when they’re 18 , You both go to the bank and close out the savings account and then they can open up a checking account in their name with all of the money that was saved. That’s how I did with my kids. You just need to call around to banks in your area to see which ones do it
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I set up a bank account for my daughter the day after I left the hospital with her 
I put $100 in monthly and my parents (her grandparents obviously) put $1000 for each birthday.
But the biggest thing is she will not know. She is not ever supposed to know until she’s responsible
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My mother set up account access for my kids in her name. She would drop $ in there randomly. They get the access cards at 18 or when a big, very thought out, purchase comes up. To this day I’ve yet to look at their savings, it’ll be a surprise for us all.
She has since passed and they now also have inheritance- which has been invested in GIC’s we can’t touch until they turn 20, so they’ll have a nice cushion to start out on as adults.
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You can also put money into CDs at a bank or credit union. They earn higher rates depending on the length of time you set them up for. But you pay a penalty if it is taken out before the cd term ends. There are also 529 college savings accounts that you can use for school expenses when they get older.
My 3 year old son has a savings account that is linked to my checking account. Its in my name with him listed second. When he turns 18 I can then sign it over to him and just his name will be on account. Its easy for me because I can go into my account when I get paid and transfer money into his.
I have a huge coca cola piggy bank I got for Christmas one year wayyy before my daughter was even thought of. Me and my fiance have been putting all our change into it. Once we found out I was pregnant it became her piggy bank. She prolly has 300 dollars saved rn.
We set up youth saving accounts for both of our children the week they were born and we have $20 directly deposited each week
I have a registered education savings plan(RESP) for my son since he was 3 yrs old, he’s now 17.and it will go towards college
piggy banks to start!
Talk to a financial advisor. We found out after our kids were older that we should have been putting money in a Roth account. A Roth with a good financial advisor will normally earn a lot more then a savings account or CD’s
I use college advantage . A 529 plan.
I have a savings account I add money to every paycheck, birthday and Christmas, then any other money she gets.
My children have their own savings accounts at our credit union.
Yes, I started my son’s account when he was 8 months old.
I deposit a small amount from my paycheck every week to his.
My parents did this for me and it’s the same account I use to this day.
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My kids have Greenlight debit cards. There’s a savings account too. You can set it up for a certain amount to be put in weekly or add on your own. You can also add chores for them to do before they get the allowance
My grandma opens savings accounts in all of her grandkids and great grandkids names and put money in it for their birthdays, Christmas, etc and they are allowed to get the money and switch the holder of the account to themselves at the age of 18. Their accounts are through the same bank that we all have.
My Mommom started one at PNC for both my kids! My poppop passed say before my daughter was born but he had $200 saved just for her 
Yes we have one for our 5 year old who got a settlement for a car accident he was in just after his 2nd birthday and it’s with the bank me and his dad bank with. It’s a bank only in our state but get one that will accrue interest for them!
My son is 3 so he doesn’t spend money or anything yet but I’m just trying to prepare early. I just opened a savings account in his name at my bank that I also have access to. It’s attached to all of my online banking so I can move money around how I please.
Any bank u use should do them. U can set it up as a minors account u or a trusted guardian have 2 be the main account holder though. My kids also have piggy banks around the house. My hubby and I split the change between our 3 kids. At the end of the month for me or any time my hubby breaks a bill we usually give all the 1s, 5s, 10s to the kids. No more than 10 a piece for the kids though. Sounds mean but anytime our kids get physical money for birthday, Christmas, etc we make them save it. If it’s a gift card they get 2 spend it.
I opened my son a dinosaver account connected to my bank account, when he was born. It converted into a savings account when he turned 18. I also opened him a student checking attached to my account when he turned 16, where I can monitor his balance and transfer money to it from my banking app… When he graduates college I’ll remove both from my account.
I have a savings account for my daughter!
I have one for each of my kids. We use a credit union
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My daughter has an account but a parents name has to be on it until she turns 18. I also have a minors IRA that I put money into.
I’ve been using acorns. They receive more payout through dividends than any savings account I’ve ever had. Roughly 7% return and they reinvest your market gains and dividends. It’s set up to invest the change from rounded up purchases as well as a monthly automatic deposit. It’s built up quickly. If you go this route, just enroll in the $1.00 a month INVEST option. Otherwise they’ll be snagging $5.00 monthly that you don’t need to spend unless you have multiple investments going at once.
College fund or life insurance.
Yes they do, my husband started it for them when they were born.
I saw something where a mama got a photo album and every week she put $5 and a note about what they did that week in it to give her kids at graduation. I could do once a month maybe! Lol
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My kids have a Greenlight debit card. It has full parental control. You can assign them chores and they get paid upon completion. We love it.
I love Greenlight cards!! You can add money and set where and how much they spend!! Plus they feel so cool with their own “credit card”.
I have savings accounts for both my kids. They are 5 and 1.5 years old. When they get older I might get them that green light card everyone is talking about.
Credit union is your best bet
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Both my kids received a gift of $500.00 of Home Depot Stock when my son was born. It has been 16 years and their stock balance is up to $8,000.00. I wish I had added just $10.00 to $25.00 a month all those years ago. They also have a checking and savings account at my bank with debit cards.
My daighter is 3 and has a savings account.
Yes I set up my savings trust fund for my two boys few yrs ago
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My mom got our baby a big bottle savings jar. My husband is bad about leaving change lying around the house (I do it sometimes as well) so whenever I find it I put it in my baby’s savings jar 