When Little bean was born she received lots of beautiful presents including teddy bears, jewellery and clothing, but she was also lucky enough to receive lots of pennies too. Hubby and I discussed what we thought we should do with her money, do you use it to buy the essentials that you haven’t already received or to buy luxurious items that you wouldn’t normally consider spending money on. For us, there was only really one answer, to start a savings account.
As parents we want to be able to give our children the best start in life possible. We also felt that the money was not really ours to spend, the money had been given to Little Bean and so we decided to start a savings account for her which we add to each month. It’s really surprising how quickly the savings begin to add up and already we can see that when Little Bean turns 18 she will have a good deposit for her first car or whatever else she chooses to use it for. Maybe towards college fees or a deposit on a place to live (not that I want her to fly the nest too early of course).
When it comes to savings, the most obvious choice for us was a bank account aimed at children and so we began by searching for the savings accounts available and then chose the one most suited to our needs. We receive regular notifications of how Little Bean’s savings are growing and we just know that we have made the right decision. Clothes and toys are all great fun, but money will serve her better in years to come.