Moderator
ModChristine
Posts: 1,241
Registered: ‎05-24-2013
Does your child have a personal savings account?

Several children of my Mommy friends have had their own personal kids savings account at a bank since very early on.  While my husband and I have our own account, I never took my son to open one for himself.  I had the best of intentions through the years but here I am revisiting the subject so you can gather that I never got around to it lol.  My son has quite a bit of money saved now from recent occasions and I'm going to take him to open his very own account before school starts. I think this will help him learn how bank accounts and interest work.  Hopefully it will also motivate him to save more in the future.  Right now I am trying to talk him out of buying a $40 toy that I know he will be tired of in a few months! 

 

Do any of your children have an account?  Did the bank offer any type of incentive to children opening a new account?  I've heard of a bank where I live giving them a new "piggy bank" when they sign up.

~ Christine ~
Mom to a sweet little girl and 2 busy boys
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