Do you have bank accounts for your kids?

[Heatman]

A lot of people are only concerned about opening and operating their own bank accounts. It's the smart one's that open bank accounts for their kids and even the unborn one's. They start saving a trust fund for them until they are old enough before they can access the money.

Have you ever considered opening a trust fund account for your kids?

 

[Jason]

I would do anything for my 4 year old son. In fact, now I am working as hard as I can to provide for him. Hopefully, I will be able to set him up financially, but not in a way where he is spoiled and don't know the value of hard work.

 

[Bizdustry]

[No message]

 

[eLdavis]

I don't have kids yet, but when I get married and have kids of my own, I we definitely open a savings account for them. My elder siblings have saving accounts for their kids, and I think it's a good idea.

 

[arunima25]

It should be done as soon as possible. We delayed it a bit. But we started with bank accounts for our daughters when they were 9 and 7. It was a minor account under my guardianship. I would keep aside a fixed amount in their accounts monthly for all these years and also all the money that they received as gifts. Now, my elder one is an adult . She turned 18 two years back and the account was transferred to her as major account. My younger one too will be 18 in next six months and she will also get it transferred to her name as major account. Glad that I did it. I wish that I could have done it a bit earlier.