Do you have savings for your child/ren?

There is a difference, though, between saving money for her future and simply setting aside some money for a toy. I would suggest a second piggy bank where you add matching funds for her actual future; for every penny that you set aside for a toy, set aside the same in that piggy bank. Once you hit the minimum necessary, go open a savings account for her; that should be used for future educational needs. Depending on your area, there may be a lot of resources available through your local public library. Also, there may be a toy library available nearby, which can allow for her to enjoy a variety of toys without having to commit to the buying and long-term storage of that item.

My daughter is only 5 months, but I have a little jar full of change. I'm hoping to get a hefty sum of money saved for her. I am saving outside of a bank though. I think that it is safer that way. I don't want to put my faith in other people. I trust myself and that's all I trust. :)

it is very important to create savings for the children. as early as possible, it is always better. the uncertainty of the future and the development of habit of savings are essential elements and lessons of the growing up years of children. in this way, they will know and appreciate the value of money and hardwork.

Yes I had done it for my both children. It is not me directly but my husband had bought them the piggy bank and told them to put any coin that we gave them and do you know when their piggy bank use to get full we use to tell them only to count. Then we had open their account in bank and these amount use to deposit in their bank account. Now they have grown up going to college and whatever the extra money remain with them from their monthly Pocket Money, they deposit it their bank Account.

I would like to do that too. As much as I can, I will award her points, and when she reaches some target, I will let her either choose to bank in or buy a toy or item of her choice. The only problem is whether I will have enough to buy for her what she deserved by the time she wants to "cash out". I do hope she will choose more to save than to spend.

Yes, I try to save money for my two sons. I have opened Life Insurances for my two sons. Have a nice day.

I have a bank account, an resp and savings bonds for my daughter. She also has her own bank account and she is very good at saving money. She barely ever spends a dime.

The government in my home country provide free education and childcare for children aged three to four years old. I let my daughter attend a preschool for 6 hours and a childminder for 9 hours. I pay for her to have a little extra time. I give her savings to pay for that. It costs five pounds and twenty five pence. I have a politeness award for my son and he saves up for toys he wants to get. He aims to get stickers on a politeness badge. He gets savings for that around the same amount as my daughter. He bought a Fireman Sam boat shed. He is saving up for a transformer toy. I would like to begin a savings for a rainy sort of thing for my children. I would like them to keep on saving rather than spend all the money. That money could pay for driving lessons, traveling, a mortgage deposit or studying fees.

Right now we have piggy banks for all 3 of them. We put money into the banks for them and they get money from relatives we assure that they put it in there as well. They ages are 3 and 16 months so no need for any spending right now.

I always encourage my kids to save whenever they had the chance. I give them small bank for their coins - that was during their kiddie days. but now as they grow up, it seems too hard for them to save a cents. :(

Yes I did for all of them and still have for the youngest two. I saved about 5000 euro for each child and they did get some extra as well (part of the drivers license for example). Those who are adults have to take care of themselves. The youngest two I am saving for two. They have 2 accounts. One is for schoolmoney (till they are 15 years old) the other one is saving money. I save a part for them. If they get pocket money they have to save it partly and they are also allowed to buy something for it (what they seldom do). I cook with my children, we also are very creative. At this moment my daughter is making insects and spiders and we will make a mobile for her room out of it. They also read a lot and we paint, make sculptures, things out of stones (glue them together in puppets or ..), etc. Mine are not watching tv that much either. Plenty of things to do, including mind games and making puzzles. They are also knitting at the moment. My son started to make Mr Bean his Teddy (he made a scarf and teddy for himself already) and my daughter started with a skarf for herself (already made a teddy and dog for herself).

I think this is very important, it teaches your kids how to save, and budget. I remember as kids I was the freak of the family savings, and not spending my money. My siblings would spend, even though my parents made us buy our things, even pay rent by 16 they didn't teach them very well. It shows seeing my older sister, and older brother are in major debt, and my younger brother doesn't lift a finger to earn a penny.

it's great to hear that you have think your kids future and saving for them. It's hard time when lots of unemployment today. Even you think that your daughter deserved to get that toys just dont forget to think their future because the toy is temporary only. There are many kinds of invesment for the future not just saving, it can be insurance, stocks, and any others. In my country there are various and combine between stocks and insurance, choose the suitable for you as long as you can pay them and dont choose that you can afford.

I have a jar on my son's desk where all coins go in. I keep putting coins in to show him the habit of saving. He is slowly picking up the habit by sacrificing some of his lunch money. He also has a savings account in the bank where he deposits the money from the jar when it is full. I have taken educational plans where he will get the money for his further education.