https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Sun, 03 May 2026 20:46:50 +0000 https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483829 Thu, 03 Mar 2016 20:19:32 +0000 FannyMae 2483829@https://boards.hellobee.com/ <p>I opened an account for each of my LO's as soon as I got their birth certificate - I put in whatever money they had been gifted for their birth ($1,000 in total each) and then had it linked to my internet banking. I do a direct deposit of $10 per child per week, and deposit any money they receive for christmas, easter, name days and birthdays. It adds up by the end of the year, and I hope that by the time they are 18 they will have a great savings account to spend on a car or house deposit. $20 a week is ok for my weekly household budget, I barely notice it really. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483673 Thu, 03 Mar 2016 17:33:34 +0000 sapphire 2483673@https://boards.hellobee.com/ <p>At this point, any money given to LO would go in her 529. When she understands money, we'll likely open a savings account (she's 1). </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483651 Thu, 03 Mar 2016 17:02:47 +0000 Mrs.KMM 2483651@https://boards.hellobee.com/ <p>@Bluemasonjar: Up to $2000 per year is tax deductible from your GA state taxes. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483641 Thu, 03 Mar 2016 16:58:24 +0000 Mrs. Champagne 2483641@https://boards.hellobee.com/ <p>We have an RESP (Canada) and put the max in to get the max refund from the government ($2,500 a year, govt gives $500). It's in a fairly safe mutual fund. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483626 Thu, 03 Mar 2016 16:44:54 +0000 Bluemasonjar 2483626@https://boards.hellobee.com/ <p>@Mrs.KMM: I have been meaning to look into the Georgia 529 plan good to know there are tax benefits.</p> <p>We have a savings account for DS to put cash into so he can spend on things he wants/needs in the future. We will contribute to an educational fund seperately. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483621 Thu, 03 Mar 2016 16:37:10 +0000 Mrs. High Heels 2483621@https://boards.hellobee.com/ <p>@catlady: @runnerd: I love betterment too!</p> <p>We have 529's, but no dedicated savings just for them. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483159 Thu, 03 Mar 2016 13:27:45 +0000 mrsjyw 2483159@https://boards.hellobee.com/ <p>They each have 529s and a savings account for "fun" where we give them spare change, etc to save for a toy or outing, etc. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483111 Thu, 03 Mar 2016 13:10:35 +0000 Alivoo01 2483111@https://boards.hellobee.com/ <p>@Mamaof2: I want to start a mutual fund for my kiddos. Suggestions??? Feel free to PM/wall me instead. Thanks!!!</p> <p>We currently have a regular savings account, but I want to put it into something stronger like a mutual fund. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483042 Thu, 03 Mar 2016 12:37:16 +0000 youboots 2483042@https://boards.hellobee.com/ <p>We have a savings account but no 529 yet- we will get an Oregon one when we do. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483033 Thu, 03 Mar 2016 12:32:06 +0000 BSB 2483033@https://boards.hellobee.com/ <p>@catlady: Oh, I didn't think about that for the LOs. I did actually create a Roth IRA through Betterment last night or maybe it was Wealthfront because their fees were slightly lower. I don't know why I didn't think about that for them. I need to look into that maybe. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2483011 Thu, 03 Mar 2016 12:18:15 +0000 runnerd 2483011@https://boards.hellobee.com/ <p>@catlady: love betterment :)</p> <p>We have a college fund, but we decided to not do a 529 after a lot of mulling over, and have it invested in mutual funds; no separate savings </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482991 Thu, 03 Mar 2016 12:02:55 +0000 catlady 2482991@https://boards.hellobee.com/ <p>We have a 529 and a long-term investment account on Betterment. No savings account though. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482989 Thu, 03 Mar 2016 12:01:44 +0000 Adira 2482989@https://boards.hellobee.com/ <p>We have 529s, but no real savings accounts. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482988 Thu, 03 Mar 2016 12:00:50 +0000 winniebee 2482988@https://boards.hellobee.com/ <p>We have a 529 plan for them but no savings accounts. Any gift money etc that they get goes in there. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482967 Thu, 03 Mar 2016 11:51:25 +0000 Mamaof2 2482967@https://boards.hellobee.com/ <p>they both have savings acct at the local credit union and then once a year I take the money out and put in their mutual funds </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482935 Thu, 03 Mar 2016 11:36:56 +0000 Mrs.KMM 2482935@https://boards.hellobee.com/ <p>We have a 529 for her but no savings account.</p> <p>Our 529 is a Georgia plan since we live there and get tax benefits (and it is also a strong plan). </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482926 Thu, 03 Mar 2016 11:35:39 +0000 Mrs. Pickle 2482926@https://boards.hellobee.com/ <p>I think we're going to open an account with Fidelity. Right now her money is in my and DH's checking account. We've got a line in the budget that for her savings do we know how much is hers. </p> https://boards.hellobee.com/topic/savings-accounts-for-your-lo#post-2482916 Thu, 03 Mar 2016 11:32:41 +0000 BSB 2482916@https://boards.hellobee.com/ <p>Do you have one for them?</p> <p>I finally got them set up for a online savings account and 529 program! Woohoo! </p> <p>If you have a 529 program, which program did you pick? I went with Utah's UESP. Thanks to an old HB thread. I was kinda lost which one to pick but you guys helped me narrow it down. </p>