Bank house could burn down banks ins.
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We automatically have $100 deducted on the first of every month & it goes into a savings account
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Talk to someone at the bank
I have money tins once full put away get another do same again
Donāt save money in where you can have an easy access. Find an insurance company where you can do monthly payment. Your money grows easier in an insurance.
Gerbers grow up plan is an easy and affordable way to save for your kids future
Savings bonds are sure money, no chance.
We do savings accounts
My daughter has two. She has an actual bank savings account. then each month, at least once or twice, I write a letter to her saying how much I love her or talk about the new things sheās been doing (sheās 11m) and put in a random amt of money (whatever I have spare) and date the envelope, put in a lock box
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Savings account collects interest
Definitely put in bank so it gains interest
Yes we started a collage fund for the 2 of them before they we were born. We plan on having a large chunk of their college paid for when that time comes.
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I pride myself on taking care of my girl by myself. So when I get a child support check , I deposit it into an account for her
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Look up Dave Ramseyās 7 baby steps. Commit to following them like the gospel.
We set up savings accounts for my girls with out bank. My girls are 2.5 and 9 months. We have chickens and when we sell the eggs they money goes to them to put in that account. When they get older they can take money out but have to have my husband or I with them till they see 18.
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Yes all 3 of my kids have savings accounts.
While starting a fund for your kids is a great idea I believe actually teaching them how money works would be the better lesson. Without the latter the account will drain quickly and all your hard work to set them up will be for nothing. We installed a policy in our house that certain electronics come with an age limit. (Ie, a personal computer at 10, a tablet at 11, a phone at 12, etcā¦insert whatever age you want to tailor it to your views). If they wanted an item earlier they had to save the money and buy it themselves. Both my kids bought their own computers and tablets and are learning how to upgrade them piece by piece instead of see them as throw away after a couple years. Donāt get me wrong, they absolutely have all their necessities and get gifts like normal kidsā¦but they donāt get handed whatever they want when they want it. They have to earn it (doing chores for money) or save for it (birthday money and such). Itās amazing how they never beg for things now that they understand how expensive things can be, how to sacrifice in order to save for a goal, etc.
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I have a critical illness policy for my 3 kids. They are cash back, they get the money back by 18. If the policies are not used for critical illness. We also have whole life policies for them that build cash value so when they are older there will be a good saving in the policy they can take out or keep building.
Started a savings account for my three when they were born. They always put some of their Christmas and birthday money in it and anytime they have extra that they donāt want to spend. My oldest 15 year old daughter just used hers to buy her first car all on her own this weekend
We actually started once we received the stimulus checks etc for our daughter, we opened a standard savings through Chase (who we bank through) the enhanced child credit payments will go there starting in July and whatever birthday, Christmas money etc will all go in there.
Our kids each have a Gerber Grow Up plan, and a savings account that all their birthday and Christmas money they get goes into 
I have a saving account for me 2 year old. I put 10 dollars in there a month and any birthday money as well, of course until he is old enough to decide what he wants to spend his birthday money on.
I plan on giving it to him as a graduation gift, but will try to teach him how money works, and how quickly is can be spent on stupid stuff, as he grows up that way it doesnāt get blown on candy and soda.
And he wonāt know about the money until I give it to him.
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I am in Canada, so it works a little different. We have what is called a REEE account for each one of my children and theyāre destined to be used for post secondary education. If ever they dont use it, or use only a portion of the money, you get the rest back. The government matches up to 30% of the amount you put inā¦ So pretty good 
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I opened an account and every time my boys got money for their birthday I put it in.
We like to keep it simple. Each kid has a savings account and we have a set amount of money that we transfer into their accounts each month. We wonāt let them touch it until after they graduate from college.
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Definitely saving account or a trust fund me hat you can continue to add money. Yes it is a good idea
A relative adds any money given as gifts for holidays or birthdays
Iām doing an RESP (registered education savings plan)
We have educational savings accounts that are invested in mutual funds for each kid via Schwab. If they get scholarships and donāt need the money for continuing education in any form, they can cash them out when theyāre older. We also have brokerage accounts and teach them that what we do with money (give, save and spend). We contribute intermittently to their brokerage accounts and the kids invest based off of the results of their work. The upside is the brokerage accounts earn market returns (average 12%) and dividends (at year end) as opposed to just bank savings accounts and so the growth is much easier and obvious for the kids to see the increases.
I do not recommend hiding money in your house. What if house burns down.
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My kids each have an RESP account and savings account. Birthday/Christmas money goes in the savings and 100$/month goes into each of their RESP accounts. Our goal is to have approximately 30k saved for each kid to help with post secondary education. It wonāt cover everything but itās better than having 55k in University debt like I did.
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I have an online savings acct that has buckets or vaults. I put money in each pay for each kiddo. They should each have a nice chunk toward a first car or college expenses.
Yes. We have an allotment of $50 for each kid that comes directly out of my husbandās pay and goes into each of our childrenās savings accounts when he gets paid.
If they are babies, invest it. Roth IRA. Iām definitely not an expert on investing but Iāve been told thatās the best way to go. You can also choose a college savings account at a bank. I had one of those for awhile. You get a tax deduction with it.
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Started a savings for all three there tooth fairy 
Birthday 
money or any other money went in it
You can do savings bonds, or just go to the bank and tell them you want to set up a savings account for each of your kids
My kids have a savings account 5 and 11
Keeping cash at home is a setup for failure- get yourself an account too.
My grandma set up a savings when I was born an had automatic withdraw from her main account to my savings till I turned 18. It was like $10 a month. But fir 18yrs! It was also set up with restrictions on how the money could be touched until I was of age.
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My lo is almost 16 months and she has an account. I started it off by adding $100. And family know that any money she receives from them goes in there. Other than that I add like $5-$10 once a month or so. Itās not much but itās builds interest over time
Do not keep lg amounts of money at home not safe
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I have a change jar that we cash in when itās full, and put into an account for our one year old. We also put money she received as a gift for her first birthday in there as well. We plan on buying a house sometime next year once I graduate and start working full time again. When that happens I plan on setting aside $10-$20 per paycheck. It will slowly add up and we can use it for thinks like tuition and a car when sheās older.
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Been saving for my baby who is now 7 months old since day 1
We have an account for our daughter who is now nine. I have a direct debit from my account of $10 p/f and any money she got for birthdays she would put 1/2 into her bank. Any money she got as a littly went in there before she had a need to spend cash.
She has approx $5000, which will gain interest and I will continue to contribute.
She cannot access this until sheās an adult and I sign it over to her. 
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I opened an account for my son with recurring transfers of $25 from my checking acct every 2 weeks, I transfer $1,000 from my tax refund to his acct every year and he deposits 2/3 of his bday money or any cash he gets from grandparents/aunts/uncles. Anything else goes in his piggy bank which he uses to buy little nick nacks. He can access his acct once he turns 18
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Guardianship investment account through Merrill edgeā¦save every week and on her bday and Christmas she buys stock or mutual funds with what is there
My kids have savings accounts, theyāre 16, 4 and 5. Everytime they get money for birthdays, Christmas, Easter, grad etc I put their money in there.
It would be easier to just set up the accounts with a bank. They will work with you and help you decide which options are best for your children.
We have an RESP (Registered Education Savings Plan) for my son that we started when he was born. We contribute about $250 a month to it. At the end of the year the government(
) will match what you put into it (minimum $2000 some odd dollars)
We also keep any cash he gets in an envelope for him. Not sure when we will give that to him, or may just keep saving and put it into the fund as wellā¦
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Open 2 add-on CDās through your bank for them and put as much as you can to start it, each month make a deposit (benifit of an add-on) of specific amt. For our kids its split monthly to equal 1k a year for each acct and about 350 in interest earned, but thatās with a bigger amt sitting in there. If you start out low you may only make 50 the first year in interest, but still money for them either way. I wouldnāt hide money at home.
Donāt hide cash. I know someone who did that and mice got it. They were out thousands. Also if you have a house fire or a natural disaster youāre out all of that. Plus savinds accounts aquire interest.
All our kids have a savings account. We put money in whenever we could. The oldest 3 now have jobs we make them put a percent on their savings. When our oldest turned 18 we turned the account over to him. All the money we had put in plus what we made them save is there.
They can use it for whatever they want.
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My dad has my kids set up we started out in savings but my dad looked in to money market accounts and they gain way more interest a year that way. He usually deposits 50 for Christmas and then half of any birthday money they get goes in as well we also add some during the years as well. They canāt access til 21 I believe unless he or myself signs it over for them
I have a saving account for my son. I add $ for birthdays, big school trips (overnights), braces and tightens, each school yr, report cards,
You should also start them in a life insurance policy I know it sounds a little morbid however if you get the right policy they dont have to worry about qualifying later on once they are older and could possibly have something medically that would disqualify them.
We opened up savings accounts for each of our children when they were very young(before they started school) every time we got paid we made small deposits into each account. They each used that $$$ to buy their first car. Totally up to you!!!
We have 3 kids and thatās the subject I was taking with my brother we where thinking best thing was to buy at least 1000, for each kid in stucks
Iāve just recently started a savings account for my girls itās just a joint account and will spilt it when of ages. Best thing to do for your kiddies I think
In my home we use Edvest. We have had some funds going in every week going to it since birth. Then we add extra with tax returns and we ask the Grandparents to contribute on holidays instead of buying large gifts. The Grandparents can also use it as a tax deduction.
I most defiantly could not afford to do this HOWEVER my over the top mother would spoil with gifts I finally told here if you have a set dollar amount you feel you must spend on them Then cut back on the gifts and get them savings bonds or CDs So she she did and you know what she now does it for all her grandchildren and my oldest just cashed his in and used it for the down payment on a house
We have money in our safe at home. Each time we have left over $1 bills or when my dad gives us lottery tickets we just put that money in there. Once she starts getting money for holidays we will split it half and half. Half will go in the safe and the other half she can use to spend or save or whatever she wants
Start a Roth Ira. There is a limit on how much you can put in and you canāt touch it the first 5 years but you will get a better return(higher interest) than a traditional savings account.
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I started a savings for my son
Hes 16 months and i deposit any money he gets for birthday/holidays and some out of my pay checks
That way its building interest
Dont stash it in your house! Try ISAās.
I started a savings account for my son when he was younger, but we live paycheck to paycheck so I keep having to take money out of there. Iām a single mom of 2 so I feel bad when I have to, but I got to do what I got to do to get by.
get them a a gerber baby plan they double whatever you have in there when they turn 18 i pay 10$ a month !
Try thisā¦ and for a long term investment, try the stocks and shares isa.
I set up a savings account at my bank and try to put $50 a month or more in there. I also put money from his baby shower in there. Itās the safest way and easy to add to.
Saving account opened as soon as we could(within a month or so of birth), mutual funds and a 529. Even a little bit today can grow for tomorrow. I donāt plan on paying for all of college/trade school for my kids but every little bit helps. Money is added every month and whatever money theyāre gifted, a portion is saved. Hopefully itāll be a nice amount by the time they need it after graduating.
We did an RESP with money from showers bdays, christmas, etc. And put money into every 2 weeks. Whenbshe starts school shell have access to it. If she decides not to go to schoolā¦ it will be transfered over to RRSP. Simple.
My family is kind of big and giving money as a gift for big events so both my kids have a savings account. Thereās not a lot in there but iitās getting interest.
Go to you bank and ask about a CD. You put money on it and you let it stay there and every year it grow interest I had one it great just saying Always Pam 
Iām pregnant. We already started. As of now we throw cash in a container. But when she is here we will open an account. Any gifts she gets involving money will be going in there plus what we put.
Yes, they have them joined to my bank account. I love using ESL because I love the owners dividend amount they give after every year. I have some cash I keep hidden in old birthday cards for them to find, but decided to put the rest in an account to earn interest.
So my 2 kids have a nimbl account each. They get Ā£20 per month. Ā£10 to spend and Ā£10 to save.
I did set up savings accounts for my kids when they were young. However, they are grown now, and I have set up a savings account for my grandson. I give him a smaller gift (as he is young and has endless toys), and put into his account for birthdays, holidays, etc. It will be his for his needs when he gets older, for whatever.
I used savings bonds that were accumulated for me as growing up to buy my first car after graduating from high school.
My 3 year old has a savings account linked to mine for birthday, Easter, Xmas money etc, I have just started transferring the child benifit every month into his account too.
No, I have education for my kids, what they do with it is up to them. Anything thatās left after my death is going to my partner if I ever have one or to charity thatās not affiliated with any religion. Educate your children, prepare them for the world, but never leave money or anything you earned in life for them.
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Credit union, im saving for my child since six mths old , ā¬5 or even ā¬10 each weekā¦it all adds upā¦
Cash in your house??? Hope a fire doesnāt break out.
We have a pre paid college fund.
Iām 34 weeks pregnant. We are starting a whole life insurance policy that grows a cash value. By time our daughter is going to college we will have enough saved to pay for it. But you can use that money for other major expenses like a down payment on a house, starting a business, etc. thereās no penalty for taking the money out and you already paid taxes on it.
Open a savings account for each of your children, and try to put something in every pay, even $10 a week/fortnight.
( at $10 a fortnight, means they should have over $500 plus any interest on a year)
Will slowly build up, anything they receive as gifts/ presents can be added to also.
I started mine when found out my wife was pregnant, put $20 a week in, over 2k before she was 2
Go talk to a broker, a place like E G Edwardās or Merrell Lynch will be glad to help get you startedā¦
Some community colleges offer a community education class to educate people about this important matters.