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mamallama
<3 <3 <3
Member since 9/07 5035 total posts
Name:
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Re: When your child receives money for a birthday or holiday . . .
529 acct
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Posted 8/6/10 7:29 AM  |
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Moehick
Ready for the sun!
Member since 5/05 30339 total posts
Name:
Properly perfect™
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Re: When your child receives money for a birthday or holiday . . .
Goes right into their 529 plans
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| Posted 8/6/10 8:49 AM |
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hazeleyes33
LIF Adult
Member since 5/05 13060 total posts
Name:
Ginger
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Re: When your child receives money for a birthday or holiday . . .
Posted by Jen2999
Dude.. I do not even have a figure savings account. LOL.
I need to rent some of your relatives...
I wonder sometimes how many people are actually telling the truth on these sites. It seems one person says something good and the rest need to follow.
We don't have big parties either as I don't have the money for that. We are unable to save every week for our children but we do put money in their accounts when they have something big like a christening, communion, confirmation so there is something there.
Amazing with the amount of consumer debt how much people on this site claim to save, all.the.time.
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| Posted 8/6/10 9:05 AM |
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chikita315
Love
Member since 8/06 7945 total posts
Name:
M-lo
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Re: When your child receives money for a birthday or holiday . . .
Posted by hazeleyes33
Posted by Jen2999
Dude.. I do not even have a figure savings account. LOL.
I need to rent some of your relatives...
I wonder sometimes how many people ARE actually telling the truth on these sites. It seems one person says something good and the rest need to follow.
We don't have big parties either as I don't have the money for that. We are unable to save every week for our children but we do put money in their accounts when they have something big like a christening, communion, confirmation so there is something there.
Amazing with the amount of consumer debt how much people on this site claim to save, all.the.time.
Why is it so unbelievable to you? I don't understand that.
There are a lot of factors, salary, home purchase price, expenses, etc.
If people are exaggerating, fibbing, whatever - who cares? They are only lying to themselves. Do you feel betrayed in some way?
I would never feel the need to tell a bunch of virtual strangers there's more money in my account then there is. What would I gain from that?
Message edited 8/6/2010 9:11:40 AM.
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| Posted 8/6/10 9:10 AM |
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dapnkap
Our 3 angels
Member since 7/07 4824 total posts
Name:
Karen
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Re: When your child receives money for a birthday or holiday . . .
We usually put it right into savings, unless the person giving the gift specified for us to use it for something like clothes or gym classes.
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| Posted 8/6/10 11:30 AM |
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KangaMom
...
Member since 1/06 4593 total posts
Name:
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Re: When your child receives money for a birthday or holiday . . .
Straight to their Savings accounts. Even loose change in Piggy Banks goes to their Savings accounts...
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| Posted 8/6/10 12:46 PM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: When your child receives money for a birthday or holiday . . .
Hmmm...our family is big on bonds so that's where the bulk of her money is tied up. I have put any larger bills into an acct for her and she recently inherited some money which we plan will split between her acct and some investments for her.
I will sometimes use some of the money to buy a toy she wants...I've never used her gift money for clothes or other 'needs'.
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| Posted 8/6/10 12:54 PM |
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BriBri2u
L'amore vince sempre
Member since 5/05 9320 total posts
Name:
Mrs. B
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Re: When your child receives money for a birthday or holiday . . .
Our baby isn't even here yet (less than a month to go  ) but he has a nice cushion in his savings account right now. I have an ING direct account that I make a deposit into twice a month. I took half of that and put it into the baby's account.
All monetary gifts that we received at our shower went straight into it. We received a nice amount of gift cards & now have credit from what we returned, so we'll use that for when he needs anything down the line.
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| Posted 8/6/10 12:56 PM |
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Sweets13
Bella Bambini
Member since 5/05 9300 total posts
Name:
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Re: When your child receives money for a birthday or holiday . . .
Posted by hazeleyes33
Posted by Jen2999
Dude.. I do not even have a figure savings account. LOL.
I need to rent some of your relatives...
I wonder sometimes how many people are actually telling the truth on these sites. It seems one person says something good and the rest need to follow.
We don't have big parties either as I don't have the money for that. We are unable to save every week for our children but we do put money in their accounts when they have something big like a christening, communion, confirmation so there is something there.
Amazing with the amount of consumer debt how much people on this site claim to save, all.the.time.
Are you a good parent? Do you provide your kids with a roof over their head, food on the table, clothes on their bodies? Do you kiss them good night every night and tell them you love them? If you said yes to all of the above, then your doing what is the MOST important duties of being a parent!
No is judging you because you can't save each month for your childrens savings. No one is judging you because can't contribute to their college fund each month. IF some are able to save each month or have generous families member's who contributed to the savings account, then
 to them.
Just because you are not able to do something that others are able to do does not give you the right to assume they are lying.
That is not fair.
ETA: If I was a SAHM, I absolutely would use some of their money to buy them toys, clothes, diapers, etc. I would have NO choice and I would not feel guilty about it one bit. Even now. I am a working mom. Fortunately, we are in a position where we don't need to use their money but IF we were in that position, I would not feel guilty at all about using their money on items for them.
Message edited 8/6/2010 2:59:32 PM.
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| Posted 8/6/10 2:06 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: When your child receives money for a birthday or holiday . . .
We don't have large savings accounts for our kids. It's just not possible. We saved 1/2 of what they got for their christenings and used the other half to pay for their party. Without that help we couldn't have afforded to pay for the party.
When my kids receive money for their bday or an even I use the smaller amounts to buy them clothes or a toy.
I don't feel a bit guilty that not every penny goes away for them. I am home with them every single day and it can be a financial struggle but i would not have it any other way...They are happy, fed, clothed and loved. They may not have college paid for in full but we'll cross that bridge when we come to it. My siblings and i didn't have savings accounts and we are all doing great. My mom and dad didn't have much money and i never thought about it.
If you CAN save for your kids it's great. We try to do what we can so they have a little something....but no one should ever feel guilty, ever!
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| Posted 8/6/10 2:50 PM |
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laurabora
LIF Adult
Member since 4/07 2712 total posts
Name:
Laura
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Re: When your child receives money for a birthday or holiday . . .
I always put it in their bank accounts, even if it's just $5 given by the grandparents at Halloween. It's my job to pay for things for them, money given to them will be theirs later when they need it.
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| Posted 8/6/10 2:52 PM |
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sami
So very blessed!! Thank u !!
Member since 8/06 6524 total posts
Name:
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Re: When your child receives money for a birthday or holiday . . .
Always in his savings account or some other thing that my husband set up for him.
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| Posted 8/6/10 2:52 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: When your child receives money for a birthday or holiday . . .
Posted by hazeleyes33
Posted by Jen2999
Dude.. I do not even have a figure savings account. LOL.
I need to rent some of your relatives...
I wonder sometimes how many people are actually telling the truth on these sites. It seems one person says something good and the rest need to follow.
We don't have big parties either as I don't have the money for that. We are unable to save every week for our children but we do put money in their accounts when they have something big like a christening, communion, confirmation so there is something there.
Amazing with the amount of consumer debt how much people on this site claim to save, all.the.time.
I understand what you are saying...but i don't think people are lying. What i think happens is that a lot of people who aren't able to save a lot for their kids don't respond b/c it makes them feel badly.
When I've talked to friends from college, the majority of them are in tighter financial spots and don't have the ability to save for their kids right now.
Believe me...more people are prob NOT able to save every penny for their kids than are able to. They just don't respond OR they aren't on this site. With the way the economy and job situations are, it prob isn't the majority
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| Posted 8/6/10 2:56 PM |
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maybebaby
LIF Adult
Member since 11/05 6870 total posts
Name:
Maureen
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Re: When your child receives money for a birthday or holiday . . .
Posted by laurabora
I always put it in their bank accounts, even if it's just $5 given by the grandparents at Halloween. It's my job to pay for things for them, money given to them will be theirs later when they need it.
I'm asking because I'm just curious...I know you said its your job to pay for things for them...but if for some reason you were in a really bad financial spot (job loss, illness etc..) would you still put away every amount because you feel guilty spending it?
I'm only asking because i'm interested...if DS gets $10 when grammy comes over, i'll let him pick out a special toy or something. I know I could buy it for him, but it doesn't bother me to use that $$ for something like that.
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| Posted 8/6/10 2:58 PM |
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