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Do you have a savings account for kids? Manda❤Alayna 1 child; 1 angel baby; Texas 4152 posts
18th Jul

If so, where? Any fees? Interest?

[JadeLee] 1 child; Minnesota 12190 posts
18th Jul

Yes, it is at a local chain. It is free with my account. I don't have any fees on either of my accounts either though. and it does get interest. I also have a couple savings bonds for her.

Monsters² Mom 2 kids; 3 angel babies; Dahlgren, VA, United States 4689 posts
18th Jul

Yes, through Navy Federal Credit Union. No fees. I'm not sure what the interest is but DH said it was the best offered.

A, E & W's mommy Due October 21; Bulgaria 15280 posts
18th Jul

We invest our children's money into DRIP stocks

user banned 3 kids; Washington 15083 posts
18th Jul

It's at. Credit union. No fees. A good interest rate. And none of the money can be touched unless it's for college.. Or until age 25.

~Tristan's Mama~ 19 weeks Due September 8; 1 child; Oregon 3464 posts
18th Jul

We have one, it is through a local credit union. No fees, and it gets like 3% interest if I remember right

Captain Obvious 2 kids; Havana, Cuba 25634 posts
18th Jul

We have tuition plans for our children's college and savings accts through ING direct.

Manda❤Alayna 1 child; 1 angel baby; Texas 4152 posts
18th Jul

<blockquote><b>Quoting A, E & W's mommy:</b>" We invest our children's money into DRIP stocks"</blockquote>



What's DRIP stocks??

Manda❤Alayna 1 child; 1 angel baby; Texas 4152 posts
18th Jul

Also--- what did you need to open the account??

Captain Obvious 2 kids; Havana, Cuba 25634 posts
18th Jul
Quoting Manda❤Alayna:" Also--- what did you need to open the account??"


I did it online. I believe they needed to start with at least $100.

user banned 3 kids; Washington 15083 posts
18th Jul

<blockquote><b>Quoting Manda❤Alayna:</b>" Also--- what did you need to open the account??"</blockquote>



Name, address, phone number, parents information and both parents and kids social security numbers and birthdays.

A, E & W's mommy Due October 21; Bulgaria 15280 posts
18th Jul

<blockquote><b>Quoting Manda❤Alayna:</b>" <blockquote><b>Quoting A, E & W's mommy:</b>" We invest our children's money into DRIP stocks"</blockquote> What's DRIP stocks??"</blockquote>




Stocks that have good solid dividends that keep getting rolled back into your stock value even at fractional shares, so it just keeps building. The rate of return is usually much higher than a bank and your choice of company to invest in determines the security of your money

Manda❤Alayna 1 child; 1 angel baby; Texas 4152 posts
18th Jul

<blockquote><b>Quoting A, E & W's mommy:</b>" <blockquote><b>Quoting Manda❤Alayna:</b>" <blockquote><b>Quoting ... [snip!] ... rate of return is usually much higher than a bank and your choice of company to invest in determines the security of your money"</blockquote>



Hmmmm... I need to look into that.

SavageDarling 3 kids; Webster, Massachusetts 10381 posts
18th Jul

They all have 529 accounts that we put $50 into every pay period and they also each have a savings account that is joint with our account that we out all their birthday, Christmas, Easter money into for them.

Manda❤Alayna 1 child; 1 angel baby; Texas 4152 posts
18th Jul

<blockquote><b>Quoting SavageDarling:</b>" They all have 529 accounts that we put $50 into every pay period and they also each have a savings account ... [snip!] ... have a savings account that is joint with our account that we out all their birthday, Christmas, Easter money into for them."</blockquote>



What's a 529 account??