How are you saving for your child's future? I need financial advice! Just not sure what method/…
How are you saving for your child's future? I need financial advice! Just not sure what method/ route to use for saving for my child's future. Help a mama please!!!!
RoseMom·
Мама двоих (младенец)
We started out with a frozen account for 3 years, they let you deposit money but you can’t take it out, they pay you any interest earned as well.
neisa·
Мама сына (1 год)
Make a savings account and whatever left over money you have put in your child's savings account that is in your name and don't touch that money until your child is ready to go to college
Kaylee Brewer·
This is what I do.
I try to save all my coins for them and if people give me a little money for them I put it back with the coins.
When tax time comes I’m going to open up a frozen account and try to put back some money as well.
The coin saving is good for chores once they are old enough to understand doing chores and earning money for it. But as of right now it’s a lot of saving.
mimi·
Мама дочки-младенца
@neisagray946 @rosemom @mommagoat thanks ladies, I'm gonna try these out
FairyKarmaMomma·
Мама сына (4 года)
Our son has an investment account that’s slowly growing over time. We made an initial deposit and they deduct a little bit of money every other check. Our son is almost five and right now we have about two years state college tuition saved. That little bit slowly adds up!
FairyKarmaMomma··
Мама сына (4 года)
@ladymom we use Franklin Templeton investments for the 520 college savings plan. We got it through my MIL who is an investment advisor. My guess is you could probably just do it yourself or find someone local to help you get it all set up. We used my MIL to help her out.
mimi··
Мама дочки-младенца
oh ok, il try read more about it
FairyKarmaMomma··
Мама сына (4 года)
Frozen accounts/CD’s are great, especially through a credit union. I have a few of those that mature at different times as well so that we have money stashed period. Look into everything!
Your Worst Nightmare 😘·
20$ every week idk lol 🤷🏼♀️
mimi··
Мама дочки-младенца
Every lil $$ makes a difference right😱