Secrets of Success

Child Savings Account

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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.

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Member Comments

  • I think this is a great way to teach children the value of money. It's so important!! - by ROCKGODDESS309
  • just wanting clarification. are you saying that your children's savings accounts are being used for your house down payment or their's? - by VK2ZT14

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