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#026 — Links O’ The Week | MyMoneyMinute.com
March 14, 2009 at 10:17 am
Sunday’s Sites – Kids and Money Edition | Suburban Dollar
June 19, 2009 at 7:36 am

{ 5 comments… read them below or add one }

1 John March 9, 2009 at 6:48 am

That is a great suggestion. I never thought of doing that before. Putting money in a savings account is better than getting products you will never use or duplicates.

2 megs March 9, 2009 at 8:25 am

I am pregnant…10 weeks. I opened a new savings account almost immediately after we found out and started stocking money away. Not for the kid but for us and for the expenses I know will come up.

I have no intention of saving our money for our kid to use for college. He/She will get a job and scholarships or join the military.

3 Isabel March 9, 2009 at 9:57 am

I opened up a 529 for my son before his first Christmas and encouraged grandparents/aunts/uncles to consider it rather than flooding him with toys he didn’t need. If they seemed interested, I shared the process for contributing directly to that account. Most of them thought it was a great idea. The rest gave him toys. :)

That said, I think this would be really inappropriate to ask for an investment-type gift for a baby shower. People want to buy necessary stuff and/or cute stuff for baby showers; that’s kind of the whole idea. And even though I personally far prefer to get practical gifts — like gift cards or diapers — at showers, an investment vehicle is taking that a bit far. (Don’t get me wrong — I’d be thrilled if someone came up with this idea on their own. But I’d NEVER suggest it. It just seems crass since it’s outside the scope of baby care essentials.)

My favorite shower gifts were handmade blankets (personal), carseats (practical), and a Willie Nelson onesie (just plain cool). :-)

4 Celia June 24, 2010 at 6:20 pm

Not a bad idea. I’ve already done my baby registry but hadn’t thought about starting a savings account this soon. Thanks!

5 Jacky July 7, 2010 at 2:28 pm

That is a fantastic idea! It would be great to use for even Christmas or Birthday gifts.

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