How many of you BG Moms save for your little ones? I have a savings account for my son and I deposit all of his monetary gifts since he is just a baby and I put aside $ each pay check, but I am looking for other ways to make his money work for him. Do you do anything else?

I was goin to start a 529 but decided against it.

Both boys have an account in the credit union and get $5 a week, plus any money they get as gifts usually goes in there too. They also both have a piggy bank and spare change goes in there and eventually winds up in their accounts.

Well, the baby was just born so he only has $110. But my first has over 2,000

Quoting JiLLiAN.:" I was goin to start a 529 but decided against it. Both boys have an account in the credit union and ... [snip!] ... there and eventually winds up in their accounts. Well, the baby was just born so he only has $110. But my first has over 2,000"

Good for you, I think its so important to start saving ASAP. Its a great skill we can teach our children as they get older too. These days in this economy we all have to learn to save our pennies. A savings account is good but I want to find other ways to help him earn more since he has no need for the money at this time. Its so hard to find good investments these days that willhelp earn more $$

<blockquote><b>Quoting Trixie7678:</b>" Good for you, I think its so important to start saving ASAP. Its a great skill we can teach our children ... [snip!] ... since he has no need for the money at this time. Its so hard to find good investments these days that willhelp earn more $$"</blockquote>



Savings bond maybe? A CD?

Quoting JiLLiAN.:" <blockquote><b>Quoting Trixie7678:</b>" Good for you, I think its so important to ... [snip!] ... Its so hard to find good investments these days that willhelp earn more $$"</blockquote> Savings bond maybe? A CD?"

I looked at CD's the rates are pittiful. I am going to look at some investment/trust accounts to help earn more interest. My dad (the numbers guy) is supposed to help me with that

I got a money coin jar. I just put any change I run across and put it in the jar forget about it when its full I put it in Rylan's savings before I was always using change.

Quoting JiLLiAN.:" I was goin to start a 529 but decided against it. Both boys have an account in the credit union and ... [snip!] ... there and eventually winds up in their accounts. Well, the baby was just born so he only has $110. But my first has over 2,000"

Does the Credit Union put 5$/week or do you?? That's a really good idea!

She's had a savings account since the day she was born. She's got more money in it than I do.  

Birthdays get her a few hundred dollar deposit, usually.
Christmas gets a bit more money in her bank.

My family knows that if they want they can add to her fund on holidays, since some people really don't care for gifts that a 3 year old will put to the side and forget about after a few days. It's never a forced thing though.

Quoting shelbylynn [31 WEEKS!]:" Does the Credit Union put 5$/week or do you?? That's a really good idea!"

my dad, actually. lol. SO and I put money in the piggy banks and then when there's a lot we roll the coins and take it in.