Another savings plan that many people overlook are mutual funds. Yes you don’t have to just keep your funds in a mutual fund account , this can be a great way to put a little extra back for the little one in your life. Even if the little one has not arrived yet. Mutual funds are a great way to start saving for your childs future, while earning a decent return on the amount invested. In the future I will add more details and do the leg work so you won’t have to. 50 dollars a month or 100 dollars a month before you start spending is a good way to invest, as well as the compounded interest that will follow down the road. if you cannot afford that amount just put in what you can, and eventually it will surprise you how much you have already saved as well as being liquidable in case something comes up that needs to be taken care of financially (however remember it is for the future and is discouraged to dip into it)
Filed under: Savings Plans, Teaching Kids About Money
