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savings account for baby Jan31mom Due January 29; California 52 posts
23rd Jul '12

Anyone know the best bank/savings account for my little one.



She is 6 months and I only have around $200 to start her account, I have avbout 25-50 to add to it monthly.



I of course would like her to get the most interest even though we won't be using it until she starts college or equivelant. But I also don't want to spend much in bank fees.

P3RvYmCp3rv 2 kids; Carlyle, Illinois 11903 posts
23rd Jul '12

I honestly would put it all in savings bonds.

Adams Mommy Due November 23; 1 child; Brandon, Florida 3709 posts
23rd Jul '12

A lot of banks offer minor bank accounts at little or no cost to the parent. My sons is directly connected to mine, and twice a month money pulls from my account into his. I also have it set up that I cannot take money out of this account without going to the bank. So it will not get used should I overdraft or anything like that. I really like it because I am terrible about transferring funds on my own. This way money goes in every month, and i dont have to remember to do it.

Jan31mom Due January 29; California 52 posts
24th Jul '12

<blockquote><b>Quoting P3RvYmCp3rv:</b>" I honestly would put it all in savings bonds. "</blockquote>



This might be a very ignorant question but...
What is the advantage to savings bonds? Are they better then cds would be?

P3RvYmCp3rv 2 kids; Carlyle, Illinois 11903 posts
24th Jul '12
Quoting Jan31mom:" <blockquote><b>Quoting P3RvYmCp3rv:</b>" I honestly would put it all in savings bonds. ... [snip!] ... This might be a very ignorant question but... What is the advantage to savings bonds? Are they better then cds would be?"


idk it is just what I'm planning on using. I cashed mine out a year after it was fully avaliable and got a good 90 dollars more. It was a 100 dollars savings bond.