Reply
Do you have a savings account for kids? Amanduuuh Due March 17; 1 child; 1 angel baby; Texas 4618 posts
18th Jul '13

If so, where? Any fees? Interest?

[JadeLee] 1 child; Minnesota 12190 posts
18th Jul '13

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; 4 angel babies; Dahlgren, VA, United States 5058 posts
status 18th Jul '13

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 4 kids; 1 angel baby; Bulgaria 16510 posts
18th Jul '13

We invest our children's money into DRIP stocks

user banned 3 kids; Washington 15083 posts
18th Jul '13

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.

~T&C plus me~ 2 kids; .., OR, United States 4196 posts
18th Jul '13

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 '13

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

Amanduuuh Due March 17; 1 child; 1 angel baby; Texas 4618 posts
18th Jul '13

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



What's DRIP stocks??

Amanduuuh Due March 17; 1 child; 1 angel baby; Texas 4618 posts
18th Jul '13

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

Captain Obvious 2 kids; Havana, Cuba 25634 posts
18th Jul '13
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 '13

<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 4 kids; 1 angel baby; Bulgaria 16510 posts
18th Jul '13

<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

Amanduuuh Due March 17; 1 child; 1 angel baby; Texas 4618 posts
18th Jul '13

<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 '13

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.

Amanduuuh Due March 17; 1 child; 1 angel baby; Texas 4618 posts
18th Jul '13

<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??