Re: When your child receives money for a birthday or holiday . . .

goes into her account

Re: When your child receives money for a birthday or holiday . . .

everything in savings! i know i wish my parents had done that for me so me and dh figure when they graduate H.S or turn 21 we'll give them access to that money to buy a car or use for college, there 6mon old and already have 1100 each in there ING savings which is 1.6 % !!! its a really good savings account. IN the mean time i feel like its our responsibility as parents to buy them what they need and want to a certain extent. they can save in there piggy bank or use allowance for the little things here and there.

Re: When your child receives money for a birthday or holiday . . .

for now, I put 100% in her savings and I plan on doing that for a while. When she gets older if there is something she wants, I will let her put some of the moeny towards that, but I would like her to put like 50-75% away in the savings.

DH and I really want to pay for college but if we can't at least we know that is there and if we can, then hopefully DD can use the $ towards buying a home or something

Re: When your child receives money for a birthday or holiday . . .

A Lot of it goes into savings. A very small amount goes toward something.

Re: When your child receives money for a birthday or holiday . . .

Every dime they get is put into their savings accounts. If they need or want something they didnt get DH & I will buy it.

Re: When your child receives money for a birthday or holiday . . .

All cash gifts go into savings for him.
Even the $10/$20 he gets here and ther for little holidays (Valentine's etc) goes in the bank for him.

This is not for college - that's saved for seperately.

Message edited 8/5/2010 9:25:25 AM.

Re: When your child receives money for a birthday or holiday . . .

It goes into his account....

Re: When your child receives money for a birthday or holiday . . .

It gets put into their savings accounts.

Re: When your child receives money for a birthday or holiday . . .

All into savings.

Even the little bit she gets from grandma/grandpa goes into a piggy bank which then we take to bank to teach her where her money goes.

Anything she needs\wants I buy it for her.

Re: When your child receives money for a birthday or holiday . . .

It goes into savings for DS. I know someone who was going through a rough time financially and used monetary gifts towards her DD needs. I did not think twice about it when she told me. Sometimes you have to do, what you have to do. I see nothing wrong with parents using the money towards their child's needs.

Re: When your child receives money for a birthday or holiday . . .

for us now it is a llittle of both.

my oldest is 9 so when she gets money it goes in her bank and when she wants something she's allowed to use some of her money. BTW, she is an awesome saver.

With our 14 month old and 1 month old so far we have been able to put it all in their banks.

Re: When your child receives money for a birthday or holiday . . .

Re: When your child receives money for a birthday or holiday . . .

100% savings.

once he is older, we might consider buying things he would like if it is money meant specifically for his birthday.

Re: When your child receives money for a birthday or holiday . . .

I voted for savings. My folks were VERY good about saving for my brother and I. When it came time for college, weddings, etc. they had money set aside. I know it will difficult for us but I would LOVE to do the same for DS.

Re: When your child receives money for a birthday or holiday . . .

Posted by Ang-Rich

Posted by Sweets13
I am always finding money in their pockets too You know what I do with the money my parents give to the kids? I write "love nonno and nonna" with the date on the bill and put it in their piggy banks. I look forward to the day they open up their piggy banks. God willing my parents will be around to see it

Ro LOVE that idea so much!!!

Re: When your child receives money for a birthday or holiday . . .

Re: When your child receives money for a birthday or holiday . . .

I put in directly in savings...

Re: When your child receives money for a birthday or holiday . . .

We've done both. When DS#1 was born I was recently laid off and DH was in law school, so we used some of the monetary gifts to buy diapers and formula when we needed. Totally out of necessity.

Since then most of it goes into savings and a small portion of it they get to put in their piggy bank. Every few months they are allowed to take money out of the piggy bank to buy something of their choosing.

Re: When your child receives money for a birthday or holiday . . .

So far we have been splitting it into his 529 (don't want everything to go in there) and his own savings.

Re: When your child receives money for a birthday or holiday . . .

All of it goes into his savings account.

Re: When your child receives money for a birthday or holiday . . .

My DD is a year old. She has a five figure bank account saved up. Everything and EVERYTHING that is in her name goes into HER savings account as of right now. I actually ask all relatives to give bonds or money to go towards her education/future house.....

She has all of toys r us in her playroom and every book you could imagine, and I get them at once upon a child or garage sales.

We haven't decided yet what would come of money she gets when she is old enough understand. I really would love to teach her to Save her money for investments only, since she will get more out of them.

Anything that she NEEDS we provide for her. She does not have to spend her money. When she needs money she will be finding a job


Im strict about this simply because my parents never saved a dime for me, and I really had to struggle and stress out when I wanted to go to college...still do!! When we got money as kids my parents used it for things we needed that I NEVER remembered...boy would I really appreciate all that money NOW>

Re: When your child receives money for a birthday or holiday . . .

every single penny goes into her savings account. i opened her an account a day after her christening, and shes doing pretty well, 5 figures at 11 months!!!

Re: When your child receives money for a birthday or holiday . . .

All in savings.

Re: When your child receives money for a birthday or holiday . . .

Dude.. I do not even have a figure savings account. LOL.

I need to rent some of your relatives...

Re: When your child receives money for a birthday or holiday . . .