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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.

- Submitted by IKLAJBOR 8/12/2011 in Saving Money | 2 Comments
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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!!
VK2ZT14 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?

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