Do you have to have an account for children?

Today, when interest rates have been at historically low levels since the banking and financial crisis from 2007 to 2009, parents are wondering which form of investment they should choose. Long gone are the days when you got four to five percent for savings accounts and the savings increased significantly. Opening a child account makes sense anyway, or because of this situation.

Account for children

After all, it's never too early to learn how to handle money.

Does an Account for Children Really Make Sense?
Already have an account for children? - Image by Bruno / Germany from Pixabay

The American oil billionaire Jean Paul Getty, who owned what was then the world's largest tanker oil fleet, was easy to talk about. The much-quoted saying “you don't talk about money, you have it” comes from him.

However, this strategy can be devastating for children. When it comes to dealing with money, parents are better off sticking to the motto "What Hans doesn't learn, Hans never learns any more".

With a child account, the offspring learn to deal with money without great risk. Even toddlers deal with the subject in a playful way while playing in the grocery store. "Do you have to have an account for children?" read more