Advertisement -- Learn more about ads on this site.

Secrets of Success

< Secrets of Success Main Page    Submit a Secret

Child Savings Account

9

Members Were Sparked
This Sparked Me!

I started a savings account for my 3 children when they were born. Every time they received a monetary gift, large or small, I placed it into their account. Compound interest & investments over time did the rest. Today, that $ was used toward college, a home down payment & a car. I even had an account for my goddaughter who bought her first car! So, I started an account for my grandchildren Oh, I'll buy a present for them to open, but the bulk of their gift is deposited into the account.

- Submitted by IKLAJBOR 8/12/2011 in Saving Money | 2 Comments
Please note these are member-submitted secrets and are not reviewed by SparkPeople's health experts for accuracy. If you feel a secret is inappropriate, please click Report Inappropriate Secret and our staff will review it.

Member Comments

ROCKGODDESS309 10/18/2011 5:45:00 PM

    I think this is a great way to teach children the value of money. It's so important!!
VK2Z10 9/7/2011 2:34:00 PM

    just wanting clarification. are you saying that your children's savings accounts are being used for your house down payment or their's?

Leave encouragement, a question, or anything else relevant to this. All comments must abide by SparkPeople's Community Guidelines.

Log in to post a comment.

Related Secrets

Diet Resources: hypothyroidism symptoms | thyroid hypothyroidism symptoms | treatment hypothyroidism