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Child's Savings Account.

December 5th, 2008 at 08:33 pm

I open my dd saving account the day she turned 1 years old and we decided to keep a piggy bank for her and deposit all of our loose change at the end of the day. Close to the end of the year I go to the bank and deposit all of the loose change that has been collected all year long. So today was that day and the total amount was $89.10. Which brings her saving account to $558.07. This is more money than most adult are able to save. This is a great way to save without a lot of stress about doing so. I have recommended this option to a couple of friends that have a hard saving their monies.

7 Responses to “Child's Savings Account.”

  1. homebody Says:
    1228509311

    I still need to open my granddaughters account. We save our change and use it for various things (the latest was DH bought an expensive porcelain on cast iron casserole). However, your idea is a good one. May need to talk to DH about that.

  2. North Georgia Gal Says:
    1228509385

    This works great! I rolled coins that we had been saving since May and had over $100!! And we never missed the loose change!

  3. Koppur Says:
    1228510924

    I save all our change, toom and deposit it once every couple of months. Usually equals about $30 when I make the deposit.

  4. lizajane Says:
    1228511704

    I love saving loose change, because you never miss it. I deposit more frequently than once a year though, so the interest can compound more frequently. It probably makes only a few dollars difference in the long run, if I'm lucky, but those are MY few dollars!

  5. NJDebbie Says:
    1228572981

    We deposit our loose change in the kids savings accounts. I also match any deposit they make on their own (birthday, Christmas and miscellaneous money). Keep up the good job!

  6. Kaite Says:
    1229695168

    Wow!!! this is good way to save no more worries to keep aside for the child saving every month. Thanks for the idea.

  7. Amber Says:
    1231684972

    Awesome, good for you. I use to deposit my loose change for my nephew and then I stopped carrying money and using my debit card

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