About Me -
My name is Stefani. I am a work at home mom of 4 kids! I own a network of websites and blogs dedicated to helping moms make and save money at home. I also enjoy doing product reviews of family friendly products and websites.
I have been thinking lately that I need to get to the bank one of these days and open a savings account for my children. I actually opened one for my oldest daughter Ariyona when she was only a month old. I have not put money into the account for years, but at least she has an account.
My mom opened my first savings account back in 1984 when I was 8 years old. When I write checks, on the bottom my checks say I have been a customer since 1984. I have got questioned about my checks before considering my age. You normally don't see someone around my age with checks that say they have been a customer for over 25 years.
I am thinking that once I open accounts for all my children, I should at least depost $5 per month. I know it is not a ton of money, but they might be able to use the money towards their first car when they are 16.
Do you have savings accounts for your children?
Stefani
My mom opened my first savings account back in 1984 when I was 8 years old. When I write checks, on the bottom my checks say I have been a customer since 1984. I have got questioned about my checks before considering my age. You normally don't see someone around my age with checks that say they have been a customer for over 25 years.
I am thinking that once I open accounts for all my children, I should at least depost $5 per month. I know it is not a ton of money, but they might be able to use the money towards their first car when they are 16.
Do you have savings accounts for your children?
Stefani
Posted by Stefani @ MommyEnterprises.com at 10:54 PM
2 Comments:
I need to open a savings account for my baby. He's fourteen months. On his last birthday when my mom kept asking me again and again and again what Dawson wants for his birthday, after giving her an adequate list and her continuing to ask, I told her that I think he's getting enough toys, money to put in a bank account for him would be nice too. So I have $30 from relatives waiting for me to open him up a savings account.
I don't plan to add anything to the one in his name. If I set anything aside, it will stay in my own name. But I want him to have an account of his own to encourage him to save. I'm already starting a chore chart with little things he already does so I can get him excited about getting stickers on his chart. And even though they aren't really chores, I'm going to give him money to put in his piggy bank at the end of every week based on his chores.
Obviously he's too young to understand any of this yet. But doing it this way puts ME into a routine, and also gives me an opportunity to get him excited about stickers on his chart, and then about getting excited about getting the money, and excited about putting it in the piggy bank. Then once a year or something, we'll take the change out and put it in the bank. That way there will be a little bit in there by the time that he does understand. And since it's only his chore money and his gift money, it's all "his." I'm hoping this will instill pride in saving.
Awww thats thweet!
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