Do you save $ for your kids future?

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Forum -> Household Management -> Finances

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amother

Thu, May 10 2007, 8:31 am

Do you save $ for your kids future=college,university/wedding/house?

amother

Thu, May 10 2007, 9:06 am

Yes.

madys

Thu, May 10 2007, 9:35 am

We do save into a retirement fund monthly, and we also have some investments that aren't tied to retirement (no penalty for withdrawal).

These funds were used to made my son's bris, we use them to pay for yeshiva, and they will be used b'h for bat and mitvahs.

When we were first married, we squrreled away all we could. I was working full time, we were renting, and had no kids for a year and half.

Now that we have a house and 3 kids, I'm so glad we didn't spend a lot of $ unneccesarily early on in our marriage.

It's such a relief knowing that our futures are being taken care of.

Let me clarify - we are far from rich - I work part-time, and we live paycheck to paycheck. But saving for the future is very important to both myself and my husband, that we would rather live paycheck to paycheck now, and reap the rewards of our savings later in life.

Ruchel

Thu, May 10 2007, 12:12 pm

We save money, but we haven't decided it would be for kids or retirement or anything. We just save it.

shopaholic

Fri, May 11 2007, 9:48 am

We saved until we bought our house & then used that as a down payment. movers, furniture etc. Now we have to start again. My kids each have their own bank accounts that we set up for them with money they have received for birthdays, presents when they were born, upsherns, Chanukah gelt etc. We haven't decided when we will let them have access to it.

Marion

Fri, May 11 2007, 10:32 am

Everything we got as a gift for him we saved. 2/3 of the child allowance that goes into our bank account every month from the government also gets moved into a savings plan in his name. It will all be available to him either when he marries or finishes his army service, whichever comes first.

Blossom

Fri, May 11 2007, 10:56 am

We are trying to save up. Scratching off a little from here and there and trying to throw in a decent amount every so often.

mom_of_three_2004 your kids are ka''h adorable, BTW.

madys

Mon, May 14 2007, 11:29 am

Blossom wrote:

mom_of_three_2004 your kids are ka''h adorable, BTW.

Thanks!

amother

Mon, May 14 2007, 12:37 pm

When we start saving up to pay for our present needs, then we'll start worrying about saving up for our kids futures.

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