Brilliant Ways To Save Money For Kids

Published by Maku Seun on

Are you looking for how you can save money for kids? Do you want to know how to allocate a special account or fund for your children so that you don’t disappoint them in the future?

Because lets face it, kids aren’t the only ones who disappoint their parents.

Parents also disappoint kids by not providing the necessities for them to go out there and kick ass at life.

So if you are worried about disappointing your kid/kids and would like to provide for them the basic necessities like clothes, food, shelter and a decent education, read this post.

How can you save money for your kids’ college, bicycle….. or whatever?

If you have asked yourself this question then this is the post for you and I will make it as simple as it can be.

The way you can save money for your kids is this….

  1. Create a separate savings account for your kids

It’s that simple!

If you are saving money for your kids college, you start a savings account as soon as possible and name that account Brendon’s College Fund so you know explicitly what that account is for.

Do the same for all your kids and name the account the thing you are saving for.

How much should you save every week or month?

That depends on what you are saving for and how long it will take you to reach your goal.

For instance, if you are saving money for Susie’s College and she’s only 2 years old, then you can save maybe 2 percent of your income because you have at least 15 years to save.

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But if Susie is about 12 years old, then you have only 5 years to save for her college.

You will have to save more than 2 percent and save often.

Do the calculations and you will know how much you should save every month for whatever you are saving for.

Categories: Money Saving Tips

Maku Seun

Maku Seun is a blogger, an entrepreneur and author of Charge Your Life currently on Amazon. He has started various online businesses and is well experienced in saving and managing his money. Follow to get more money saving tips.

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