Saving for your own children
By sishy7
@sishy7 (27169)
Australia
April 2, 2012 4:08am CST
Having children can very well change you. I desire less for myself and more for my children. Sometimes even without realizing, everything I do is geared toward the well being of my children.
I'm sure those are just what all normal parents would do. How about saving for your children? Is it a good thing to do for your children's future? I know some parents start to save regularly from the time their kids were born. Then give the handsome total saved to the kids when they are 18 or 21. The idea is so that the kids would have a head start when they just begin living on their own.
I know we don't like to see our kids suffer so we tend to help them as much as possible. But if the kids realize they'll have everything ready for them later, wouldn't that make them spoiled and not really fighting to survive on their own?
9 responses
@angelwithkids (1256)
• United States
4 Apr 12
i tried to save money for my children. i didn't succeed. between me and my husband, we have tried to teach them the value of the dollar and try not to spend all their money at once. my daughter does fairly well. she's got a job which puts her check in the bank. she watches that bottom line very carefully. my son, he can't keep a penny for anything. when he gets a job, we'll have to work with him to be diligent about keeping the money in the bank.
my daughter is working on getting scholarships to go to college in the fall. my son will have to do the same thing next year.
@shylade (3132)
• Philippines
3 Apr 12
i will agree with you. when you became a mother, it is always they and them. we became selfless, wanted less for ourselves but much more for our little ones. we are actually saving for our son's future, as it is hard to trust pre-need plans nowadays. we have opened a junior savings account for our 21-month old and every pay day we deposit an amount on his account. all his cash gifts are deposited there too. i want to teach him the value of saving money and i know in the future he will understand that.
1 person likes this
Too many similarities, don't you think? 
@dorannmwin (36392)
• United States
2 Apr 12
I would completely sacrifice myself for the well-being of my children. I absolutely make sure that they have everything that they need and I also try to make sure that they have many of the things that they want as well. However, I do think that there are times that we do have to tell our children no, or else they will end up being spoiled.
As far as saving money for their futures, this is something that I would really like to be able to do, but it isn't possible for us right now because of the financial obligations that we have as a result of my husband's cancer treatments.
1 person likes this
@asdomencil (4265)
• Philippines
3 Apr 12
Yes, parents are concerned about the future of their kids. Some parent are into educational plan for their children, however, with the issues regarding pre-need plans, most of parents are now being discouraged from having the said pre-need plans.
Some gave their kids a trust funds that will be withdrawn by their kids when they are already of legal age. This will somewhat secure the future needs of their kids.
For now, we have a 21-month old son, we openned a Junior Savers Acount for him as a start. We deposited even small amount on it after payday. We will then give it to him once he knows the resposibility of saving and will help him motivate to save even small amount from his allowance or extra money.
1 person likes this
@sishy7 (27169)
• Australia
8 Apr 12
Very wise thing to do. The key is to let him know about the funds once he learns how to handle money responsibly. There's nothing wrong in saving money for our own children; in fact, it might even be the best thing to do for them especially if we are in position to do so. We just have to guide the children somehow so that the funds saved are going a long way to help with their future and not just be wasted.
@mariab2000 (740)
• Canada
2 Apr 12
I have an infant child and I have already started to save for his education for the future. I think that every parent desires more for their kids then for their own selves. I want to save for my child's future but it is not meant to spoil him. even when we are saving money for them we can still do their upbringing in such a way that they wont be spoilt knowing that they have everything covered for the future...
1 person likes this
@dodo19 (47110)
• Beaconsfield, Quebec
2 Apr 12
I really have to agree with you. Things changed for both myself and my husband had our first child, a little girl, last November. Everything we've done since she was born, even while I was pregnant with her, was with her in mind. We want to make sure that she has what she needs, that she's happy, and such. We would do anything for her. If it meant taking a bullet for her, neither my husband or I would think twice and do it in a flash.
1 person likes this
@sishy7 (27169)
• Australia
4 Apr 12
Congratulations on your first born, they are most precious to every parents. When my children were ill or hurt, I always want their sickness or pain to transfer to myself and have them healthy and feel better instead. But remember to always take care of yourself too so that you are able to look after your precious baby girl...
@Inderjeetkaur (944)
• India
2 Apr 12
It is true for all the parents. They all save money for their children's bright future. But I never heard that the parents give all the saved money in their children's hand. Rather when their children go for higher education they use that saved money for depositing the fee and other stuff.
There is no harm in saving money for your child's future, but that saved money should never be given in your child's hands. There is a great possibility that on receiving that huge unearned amount he/she will misuse it.
Keep giving some pocket money to your children which they can spend on anything they like. Also, teach them to save something out of it. And the savings that you have been doing for your children should be spent wisely on their education, business or any other productive and constructive work.
@sishy7 (27169)
• Australia
4 Apr 12
I've seen parents who let their children know that they've been saving money for them and that they'll have access to it by the time they are at a certain age. When the children reach the age, they really expect to be able to spend the money as they please. They used it to travel overseas, or to buy a first car, and one even put a handsome down payment toward a first new house.
That's really nice and all, but I really hope the parents also teach their children the value of hard earned money. Children cannot expect parents to provide for them all their lives. Unless you're Bill Gates child, that is...
@Faith1118 (112)
• Philippines
2 Apr 12
Things our children does not know wont hurt them so if that is the case then we might as well not let them, I am also a mother and I have intentions of saving for my daughter so that whenever she needs something and that our current budget will not allow it then we have resources where we can get the funds from the savings account intended for her but nonetheless I will let my child experience how to earn money on her own as a child so that she would be able to appreciate the little things and thus she would be able to know the importance of budgeting and saving for the rainy days. She is only a baby so her savings is only for contingency purposes only when there are emergencies maybe.
