As a parent it’s important for your kids to get a good financial education on how money works. It’s also important to be a good role model in showing them how to properly save money even when starting at a young age, after all are kids money habits tend to be a direct reflection of are own.
However you also need to consider where you want to save money for your child as well. A few places that come to mind are your local bank savings accounts, a certificate of deposit, or even a money market account. However one that I suggest over all others is the ING Direct Kids Savings Account, and in this article I will show you just why this account is the way to go.
First off, the reason the ING program is the best kids savings account is because it’s all done online, allowing your kid to be a part of the entire process in showing them why saving money is so important.
Next, saving money for your child is also an investment in their financial future. Today doing even just the normal things in life from going to college, to getting married, to buying that first home cost a good amount of money and by getting your child started early they’ll have a much higher chance of succeeding in life.
Third with the ING Account your child will earn a 1.00% variable interest rate. Now I know that don’t sound like much but if you can tell me any other savings account that is offering more than that I would like to know about it.
Fourth, with the ING account you don’t have to invest a certain amount of money up front to open the account, in fact their is no minimum balance you have to maintain to fund and open the account.
Fifth and finally, their is no fees involved with the ING DIRECT kids savings account. This means more saving for your child over the long run.
In the end the ING Kids Savings Account is a good financial investment for your child. To get started today check ING DIRECT today to open your account.
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