6 Great Financial Gifts for Children

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What you don't say is that if you are purchasing a savings bond for a child you need the kid's SS#. What parent in his/her right mind is going to give out a child's SS#? Our government f**ck*d up again!

Warren of PA 8:35AM April 30, 2013

Would like to thank you for the "piggy bank" idea. I believe that will be one of the first gifts I will give future grandchildren. I have to say, I believe your article touches on much of what I have done for my two sons who are in college. I came from "the valley" of nothing, but decided to learn about money and how to build a comfrotable lifestyle. Once I acquired some knowledge, I began to talk to my teenage sons about being comfortable. Work, pay yourself first (save some) and do not buy everything you want. Both boys are in college and they continue to work and save some. I also have saved their bonds they were given as gifts - Bond Fund. We gave each son a Roth IRA for Chrsitmas instead of buying more of everything. Now, we add to that every Christmas -
Retirement Fund because I wonder what will be there for them. I know my sons will face obstacles; however, I am optimistic that they will continue to learn by reading articles like yours and using our wisdom to applythe knowledge they have to not live above their means. A great man once said, "We are not put on this earth to fail."

joyce of MA 4:03PM January 02, 2010

Teaching your children how to save is extremely valuable. My parents started a savings account for me when I was only 8 years old. I would receive allowance monthly which they would directly deposit in my savings account. As I got older my parents would reward for doing well in school by giving me $10 for every A I received on my report card. All the money went straight to my savings account, along with the money I made working during the summer. To this day, I still have a lot of this money in savings and I add to it whenever I can. Today's scary economic climate shows that it is never too early to start saving so you have cushion, if needed, when times get rough. Teach your kids this valuable lesson early!

Jeanne B. of VA 10:59AM December 18, 2009

How about stop asking the schools to teach your children something that should be taught at home!

Buddy Karst of FL 7:25AM December 11, 2009

My thoughts on gifting for all children begins with self esteem and handling a checking account(personal finance). I really wish schools would teach both subjects. It should be mandatory as both are necessary to be successful in life. What good is a savings account for a child when they do not realize the worth or how to spend the money effectively. Gee, I wish they would invent a video game for this concept also.Our children think money is a plastic card & you withdraw it anytime you wish from the metal contraption that feeds money. Our children who are not bilingual are also at a major disadvantage. If children were taught another language in preschool and elementary, they would be given another major advantage in life. WE DO NOT NEED COOKING,SEWING,ETC. any longer as these skills have been replaced by fast food, microwave meals, & cheap throw away clothes & shoes.

Patricia of OH 5:11PM December 10, 2009

The fifth suggestion, financial advice, trumps all the others. It doesn't depend on some government entitlement plan that can be discontinued or changed anytime. It doesn't even require any cash outlay, so is ideal for those of us who don't really have the means to finance the other suggestions. Teaching the kids to LIVE WITHIN THEIR MEANS is the first step toward saving for the future, and is not easy, because they are bombarded constantly by propaganda on TV and elsewhere exhorting them to buy everything now, put it on a credit card, and don't give a thought to ever having to pay for it.

Chuck S. of OR 5:08PM December 08, 2009

My parents started buying savings bonds for my children from the day they were born. We also added to them as the years went by. This was well before the 529 plans, etc. They came in handy when it was time for college - books, etc. Now that my kids have children of their own, we have continued the process. For every special event, they will get the fun present and attached to the package will be the savings bond. Now they look forward to it. It is as much fun for us as for them - especially knowing that someday it will do something good for them even if we are not around. We have also started the college funds.

Sherry Lowinske of WI 2:14PM December 08, 2009