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Is a child’s saving account worth it? Should I open one?

Submitted by Benevele on Thu, 10/15/2020 - 20:14

Is a child’s saving account worth it? Can you suggest a few good child savings accounts?

You can teach your children about money by opening a child’s savings account.

You should look for a children’s savings account with no maintenance fees, no minimum balance requirement, and a high annual percentage yield (APY).

You can go for BECU Early Savers Account where you can get 4.07% APY with a $0 minimum balance required to open the savings account.

Submitted by Ryan Miller on Thu, 10/15/2020 - 23:05

Ryan Miller

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Such an account can help a child manage money. Teenage years are just the right time when they should start managing money on their own. Therefore, nowledge about managing money from childhood can help them avoid debt, especially credit card debt, in the teenage years.

Submitted by Good Nelly on Fri, 10/16/2020 - 07:09

Good Nelly

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