Do your children have savings accounts?

Yes, both of my girls have savings accounts. I started them when they were little and I try to add money to them each week. My oldest daughter works and so she adds to hers when she has the extra money too. My youngest does do some chores to make money and she will usually save it too.
I am hoping that they don't do much with this money until they get out on their own and they will need the money then.

my girls were given bank accounts for thier 2nd birthday by thier aunt an they have a nice ammount in there now they can't touch it till i think they are 21 an my daughter asked about getting a job to start putting money it in also but at 15 i think she needs to worry about school but both my girls grew up working the flea markets with thier dad an me an then helping thier grandma at the market to so thank god they know how hard it is to earn the mighty dollar so they think before they spend

I don't have children, but when my sister and I were born my parents did the same thing that you are doing, right down to the letter. I caught on, my older sister did not. I am now absolutely neurotic about saving money, and my husband has me managing all of the finances.

When I was little I saved all my "tooth fairy money" on my own, and when Canada introduced the "loonie" ($1 coin) in 1987, I saved every one that Grandma would give me, and every one that I got back as changed. By 1990 when it was time to go to Denmark with my mother and grandfather, I had $150 in my "little grey purse."

My kids have saving accounts. My son is 15 and has a buddle in his. I told him he has to use it for something useful such as a car, a house or education. He puts his own money in there.

Its a real good idea to have the kids saving at a young age,it gets them into the right frame of mind,and teaches them that its good to have a little bit behind you as you get a little older.

Hi Gemini_rose, yes from the day they were born all three of mine have had savings accounts and I have taught them the value of money so much so that my eldest can actually help me out sometimes bless. I also have the new child trust fund for my son which is adding up nicely. I always saved myself as a child and encouraged mine to do the same. Keep up the good work. My younger brother is a spendthrift and that is no way to live and I am trying to teach him how to budget. My eldest daughter went to Australia and Fiji in her gap year on her savings, my younger is saving for her first car and my little son saves for icecream bless but he could by the van really LOL. Ellie:D

We started small accounts recently for the boys. Our oldest doesn't value his money...not at all and we're a bit disturbed about this and we're hoping the savings account gets him interested in saving money.
Our youngest is the exact opposite. He'll pick up pennies from the ground and makes a big deal about getting money. He has a change bank with a digital readout, letting him know how much he's saved and he has a wallet to keep his birthday money in (and he makes sure he knows exactly where it is) when he gets $50, we take it to the bank, put it in our account and then he likes to watch when it gets transferred into his savings account online.
Our youngest is also less likely to spend all his money when we go away...he'll spend a little, but like coming home with money.
We hope they'll save this money for the education and/or first car... but who knows, maybe our youngest will be a millionaire by the time he's 18!

Yes I opened a saveings account for my son at the same bank I use. He is so thrilled that I did this for he know's when he turns 18 that he can do what he wants with the money that is being saved up for him. I did this for him for something like this was never done for me and I had to do it all from scratch and let it build on my own. He has it building now for him that he can get a car or apartment of his own and the money will be there for him to do so.

First of all, it's great that you started accounts for them so early, and even more so that they like to "compete" to see who ca get the most saved, that's great. I don't have any kids, but I'll answer for myself.

My parents started an account for me when I was about 10 years old. I got to keep half of what I got for my birthday, and they put the rest in the savings account. This really helped when I moved out of the house at 17 to go to college and helped pay for food and books and such while in school.

I fully intend on starting a savings account as soon as I have a child, it's customary in my family to give money to the kid even when they are not able to walk yet, so I'll start the savings account in my name, then transfer it to them when they are old enough. It's much easier to start saving early then to try and make up for lost time.

i have no child. my parents also did not make saving acount so early for us, I think what your have dome is raelly something nice. i appreciate it. it will make their future easier.