Saving for my kid
in Banking, Insurance & Loans ·
Why tie up savings in a dedicated child's account? I opened a standard fixed-term savings account in my daughter's name, acting as her legal guardian. I simply renew the contract every year. Standard savings accounts actually offer better interest rates than those specific children's accounts.
Of course, I have zero intention of touching that money. It’s not like I need the Department of Social Services breathing down my neck about it.
Of course, I have zero intention of touching that money. It’s not like I need the Department of Social Services breathing down my neck about it.