https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 20 May 2026 23:59:38 +0000 https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-658688 Thu, 21 Mar 2013 17:16:47 +0000 Rubies 658688@https://boards.hellobee.com/ <p>Savings account in her name. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-658684 Thu, 21 Mar 2013 17:15:09 +0000 MrsH 658684@https://boards.hellobee.com/ <p>Savings account! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657630 Thu, 21 Mar 2013 12:16:54 +0000 Mrs. Twine 657630@https://boards.hellobee.com/ <p>Oldest gets to have 10% to spend (well, not really spend; she's saving for a horse), and the rest goes into college savings. Youngest all goes in savings. She doesn't care, and she is by no means deprived. She has plenty of clothes, toys, etc. especially with big sister around, so we are totally taking advantage of the fact that she is little and isn't an active consumer yet. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657627 Thu, 21 Mar 2013 12:16:32 +0000 ladyfingers 657627@https://boards.hellobee.com/ <p>Now that he's here, we deposit money sent to us for him into a savings account that's his. We plan to deposit a monthly set amount into it and as it accumulates, store it in CDs. He won't know about it but it will be his when he turns 18. We'll have him start his own smaller savings account too so he can learn how to save, see how interest builds, etc.</p> <p>Before he was here we spent any gift money or put it into our emergency savings. But nobody really sent us money specifically for LO before he was born </p> <p>FIL has talked about starting a college fund for LO himself so we haven't done anything with that yet. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657546 Thu, 21 Mar 2013 12:01:22 +0000 luckypenny 657546@https://boards.hellobee.com/ <p>college fund or buying her the presents that I actually wanted to get for her </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657498 Thu, 21 Mar 2013 11:42:39 +0000 SugarplumsMom 657498@https://boards.hellobee.com/ <p>Oh damn, I feel bad now. The only money we've been getting are in dollars (from my friends and fam) and we stashed the checks away in my US account and the rest we've either spent while on vacation while we were there or hoarded (cash) for next vacation ;o In my defense, most if all of the money was actually spent on her.</p> <p>I guess I can go to a money exchange and sell them for our currency here, then put it into her account, but it's such a pain. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657481 Thu, 21 Mar 2013 11:37:28 +0000 Pepper 657481@https://boards.hellobee.com/ <p>Any money we receive for him will go into a savings account just for him. That's the plan, anyway! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657467 Thu, 21 Mar 2013 11:30:39 +0000 mrs. wagon 657467@https://boards.hellobee.com/ <p>We put it aside for his first birthday party! (We do big huge celebrations in our culture.) Anything after that we had a mind to start a savings account for him, or a piggy bank. But we haven't gotten much in terms of cash after his first birthday. Subsequent birthdays are all about toys, toys toys! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657404 Thu, 21 Mar 2013 11:17:45 +0000 dagret 657404@https://boards.hellobee.com/ <p>I have an online savings account earmarked for his college fund. It has abt $500 in it already which is pretty good considering he's only 8 weeks old. We are going to invest it when we get a larger sum. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657324 Thu, 21 Mar 2013 11:00:42 +0000 tysonja 657324@https://boards.hellobee.com/ <p>we recieved a lot of cash when he was born and used it for baby things we needed :). now, if it is a larger sum (100+) we put it in his RESP savings account, and if it is a smaller one we use it on him or on whatever is needed around the house! :) </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657236 Thu, 21 Mar 2013 10:38:15 +0000 HabesBabe 657236@https://boards.hellobee.com/ <p>Right now, all $$ gifts for LO and loose change from us goes into her piggy bank. We need to open up a savings account at our bank pretty soon! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657177 Thu, 21 Mar 2013 10:25:58 +0000 mrskc 657177@https://boards.hellobee.com/ <p>It's still all sitting in a desk drawer right now still in the red envelopes. Opps. I really need to open a savings for him and a 529. Need to get on that. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657171 Thu, 21 Mar 2013 10:23:57 +0000 lemondrop 657171@https://boards.hellobee.com/ <p>I buy him toys and clothes. We have a Upromise account for college that does pretty well from our regular household purchases. He has a piggy bank for change for later to do what he wants with, but we use cash so seldom anymore, it's rare. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657157 Thu, 21 Mar 2013 10:20:37 +0000 littlebittyhouse 657157@https://boards.hellobee.com/ <p>savings account! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657156 Thu, 21 Mar 2013 10:20:16 +0000 littlek 657156@https://boards.hellobee.com/ <p>Savings account for cash. But we have set up where family can contribute to his 529 plan. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657151 Thu, 21 Mar 2013 10:18:50 +0000 yoursilverlining 657151@https://boards.hellobee.com/ <p>Right now everything we get goes into her 529 college savings account. When she gets older, she can have some portion of gifted money to buy what she wants, and the rest will go into her college fund. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657113 Thu, 21 Mar 2013 10:09:14 +0000 pinkcupcake 657113@https://boards.hellobee.com/ <p>We put every single dollar into her savings acct. so fun watching the numbers grow!! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657112 Thu, 21 Mar 2013 10:08:51 +0000 BananaPancakes 657112@https://boards.hellobee.com/ <p>Right now it just goes into his savings account. One day I'll get my act together and open his 529, though. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657104 Thu, 21 Mar 2013 10:07:15 +0000 boiledpnut 657104@https://boards.hellobee.com/ <p>Everything he gets goes into his savings account. When he gets older, he can have half to spend and the other half will go into savings. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657043 Thu, 21 Mar 2013 09:50:02 +0000 Dandelion 657043@https://boards.hellobee.com/ <p>All the money I got for dd (which wasn't much, less than $100 total), I used for items I needed to be ready for her.</p> <p>When ds gets money, he puts it in his piggy bank...he saves for big ticket items he wants (right now it's some kind of star wars angry bird thing). We put our own money for him into an account for college, so usually the couple dollars he gets here and there just go straight to him. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657036 Thu, 21 Mar 2013 09:49:09 +0000 blackbird 657036@https://boards.hellobee.com/ <p>We haven't been gifted money TO the baby yet (mostly to us to buy her stuff!) but we talked about letting her have half of it for fun money and then half going into a college account </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657029 Thu, 21 Mar 2013 09:47:03 +0000 sorrycharlie 657029@https://boards.hellobee.com/ <p>@Amelieisme: same!</p> <p>she hasn't received really any cash gifts, though - at the shower we got some checks, but I saw that as the giver not knowing what to buy us so she gave a check (DH's grandmother). </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657027 Thu, 21 Mar 2013 09:46:23 +0000 prettylizy 657027@https://boards.hellobee.com/ <p>We have a basic savings account for her that we put all her money in. If it's cash, I'll pocket it and just transfer that amount from our account into hers instead of going through the hassle of going to the bank. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657017 Thu, 21 Mar 2013 09:45:08 +0000 mrsjyw 657017@https://boards.hellobee.com/ <p>We have a savings account set up for him :) </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657015 Thu, 21 Mar 2013 09:44:59 +0000 MamaMoose 657015@https://boards.hellobee.com/ <p>She has a general investment account that all cash gifts to her get deposited into (in addition to funds that we put in there).. And there is a monthly transfer from that account to her 529. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657012 Thu, 21 Mar 2013 09:44:39 +0000 Bluebonnet 657012@https://boards.hellobee.com/ <p>All cash gifts for LO go to her 529 college savings plan. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-657010 Thu, 21 Mar 2013 09:44:17 +0000 Amelieisme 657010@https://boards.hellobee.com/ <p>Have to be honest and say that gifts so far have just been put into our account, but I do hope to get him a savings account soon....Mom of the year right here! </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-656998 Thu, 21 Mar 2013 09:41:58 +0000 Springtime 656998@https://boards.hellobee.com/ <p>We haven't gotten any big amounts for LO. Right now we just put everything he gets into his piggy bank, it maybe has $25 in it. Once it gets bigger we will open up a savings for him. </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-656988 Thu, 21 Mar 2013 09:38:58 +0000 JessiBee 656988@https://boards.hellobee.com/ <p>We got a few gifts that specified "college fund," so she now has one. Other than those, we figure the money is being used for her even if it doesn't go into a separate account, and it makes us feel less guilty about buying things that we still need (or "need"). </p> https://boards.hellobee.com/topic/what-do-you-do-with-money-that-is-gifted-to-your-lo#post-656987 Thu, 21 Mar 2013 09:37:32 +0000 mediagirl 656987@https://boards.hellobee.com/ <p>It goes into a savings account for her. We'll decide what to do with that someday. For now, that's enough. </p>