when we have no money his father would try to get it out so he could buy cigarretes and gas, Im sure you know how ppl are without there ciggies!
I want to do this without him knowing so the money stays in there, this way he cant take out what he doesnt know.
Is this okay to do?
WE ARE MARRIED.
Plus I want to do some kind of educational savings plan, but I dont know how to?
I live in Alberta, Canada.
2006-06-08 16:53:32 · 18 answers · asked by cheesytwist 1 in Pregnancy & Parenting ➔ Parenting
Also can I it accesible for when he about 10, like keep it locked until he is 10?
2006-06-08 17:09:00 · update #1
you can put it in his name and say he is the only one who can touch it........
2006-06-08 16:57:32 · answer #1 · answered by I LoVe NiCk c!!!!! 2 · 0⤊ 0⤋
Why don't you go to the bank and open a savings account and put it in your son's name! And make it where no money can be taken out until your son is 18! That way you can start a savings account without your husband being able to get any money out! And it probably wouldn't be a bad idea to keep the savings account a secret from you husband, anyway!! That way the money would gain interest over the years! Hope that helps...
2006-06-08 16:58:42 · answer #2 · answered by krazy_gal04 6 · 0⤊ 0⤋
You can start a savings account that does not have his name on it. Also, try buying some government bonds. I think it takes a few years for them to mature, but they will mature long before he goes to college, but your husband won't just be able to buy cigarettes with them. Also, talk to an investor about a 529 college savings plan. It is a type of mutual fund (i think) that is tax free when used for higher education.....also, not something that he can just take out on a whim. I know Edward Jones Investments or Putnam investments can help you with this.....you can just put a little in each month to start with.
2006-06-08 17:02:17 · answer #3 · answered by Bored Girl 2 · 0⤊ 0⤋
You should ALWAYS keep some money set aside for you and your son without your husband knowing.open an account at another bank in your son's name with you or your parents as guardian.Don't keep or use the passbooks.Ask the bank about accounts that you can only deposit into.Also,in the U.S. there is a savings account plan for college called a 529 account.Ask your bank about similar programs.It's not being sneaky,it's being smart.
2006-06-08 17:11:55 · answer #4 · answered by yvonne 2 · 0⤊ 0⤋
What you can do is, open an fixed account for the period you want like the 10years. every time you get a little money put it away, and don't tell your husband. he might get upset,
when opening the account, make sure that both your names on the account. (yours &son), if every day u can at least put $10 away. You will have plenty at the end.
2006-06-09 02:31:21 · answer #5 · answered by *Cutie* 4 · 0⤊ 0⤋
You can get your child a bank account...he needs to have a social insurance number. You go to the bank, and the account is in your childs name, with only you with signing authority. You can have it set up so that you don't get statements mailed to you. You can mamage the bank account online. As for education, you can set up RESP's. I have my son's stuff set up at CIBC. For what money you put aside in the RESP the government also puts money into it...up to $4200 per year. ITs a percentage of what you put in there. It can all be done online so there's no paper trail for the dead beat dad to get his hands on. Go into CIBC and talk to a financial person to get it all set up...Good Luck (I'm in BC so I assume Alberta is pretty close in rules)
2006-06-09 08:16:39 · answer #6 · answered by mommy_2_liam 7 · 0⤊ 0⤋
see if your job has a way of splitting your paycheck into different account as a direct deposit. one saving and one checking. then when you get enough money in the saving transfer it into a CD. Also, Texas has some type of college savings plan. you don't have to be a resident of Texas to participate. Nor does the money need to be used in a Texas college.
2006-06-08 17:07:43 · answer #7 · answered by bebedede 1 · 0⤊ 0⤋
Take out a joint account with yourself and your child but not your husband. Just because you're married doesn't give him legal access to bank accounts that are in your name.
Actually, that's what I've done with both my kids. Not because their father can't be trusted with access to their money, just because I was the one who took the time to go to the credit union and open the accounts.
2006-06-09 14:41:04 · answer #8 · answered by sdc_99 5 · 0⤊ 0⤋
As for the savings account, put it in the name of your mom or sister or someone else you trust, plus your nme with both signatures required for withdrawl , then have that person keep the bank book.as for the educational fund, look into a site called Upromise. you and your freinds/family register and every time you buy things in stores that participate, a portion of your purchase goes into a savings account for your childs education.
2006-06-08 17:03:14 · answer #9 · answered by ChynaRush 3 · 0⤊ 0⤋
talk to the financial advisor at the bank your with... theyre usually always happy to help because you are their customer. usually you would require one signature from one parent only ... in that case it would be u and only u could withdraw the money out. but yea .... talking to the financial advisor at the bank is the best way!! Good Luck!!!
PS i think all banks have accounts set up just for kids ... for instance ... dollarmite accounts that no one can touch except them when theyre 16+. look into ur bank for that as well.
2006-06-08 17:00:31 · answer #10 · answered by Anonymous · 0⤊ 0⤋
It IS okay to save money for your toddler without letting the father know. Your toddler is innocent and think of it as looking out for his/her best interest.
2006-06-10 08:55:37 · answer #11 · answered by professionalfemale01 3 · 0⤊ 0⤋