Like, 6-7? or 15-16?
2006-10-15 05:38:30 · 18 answers · asked by 2 days after my B day :) 2 in Family & Relationships ➔ Family
At birth. The sooner you open it, the more money you save. All you need is their SS#.
2006-10-15 05:44:24 · answer #1 · answered by Michelle *The Truth Hurts 6 · 0⤊ 0⤋
I think 15 is a very good age to open up a bank account. My mom made me open up a savings account at this age when I got my first summer job. Of course you can open up an account for your child much younger than this, and put money into the account to grow over the years, but I would let the child open on up one themselves around 15 so that they can learn to be independent and learn the value of money.
2006-10-15 05:46:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
15
2006-10-15 05:40:08 · answer #3 · answered by cutiez 2 · 0⤊ 0⤋
It s never to young..my children started a savings account as soon as they started getting an allowance age 3-4. They had simple chores like picking up toys , helping me cook etc..got a little allowance and put 1/2 in account kept half..my children are now ages 5,9,12,13,14,17 and are responsible with money.. my parents started savings accounts for my kids when i had them for a birthday present ..that account my parents donate to each month or so and are they are saving til they graduate...many banks have different youth programs..Go to your local financial institute and they can tell you what they have and maybe that will answer the question better toward your children's age..my kids bank has a special gift they get every 5 deposits they make..like a piggy bank,special toys etc..
2006-10-15 05:48:44 · answer #4 · answered by Alli 3 · 0⤊ 0⤋
If your getting paid an allowance then 6 or 7 would be fine. If your not getting an allowance or any money of that sorts, then I would wait til 16 when you can get a job and put some money in an account.
2006-10-15 08:20:53 · answer #5 · answered by yweller25 2 · 0⤊ 0⤋
My parents opened accounts for my sib and I when we were born. All birthday and christmas money went into the account until we were 10. Then 1/2 went in the account and we could use the other for toys and things (with parents permission) when we started babysitting and mowing lawns, again 1/2 into account and 1/2 for purchases with parents permission. At 16, when we got our first jobs, 1/2 in account, 1/2 for gas, insurance and school items. When I was 20, I bought my dream car (a Corvette) and paid cash! Two years later, I went on a cruise for two weeks and paid cash!
2006-10-15 06:37:28 · answer #6 · answered by DoubleDMom 3 · 0⤊ 0⤋
Its never to early to open a bank account in your childs name however you may want to make it a joint account. Children need to learn the importance of money. Saving and spending are very important lessons to learn at ANY age!
2006-10-15 05:43:02 · answer #7 · answered by bugeyes 1 · 0⤊ 0⤋
im thinking 15 16 because they will be at the age where they should start thinking about college and getting a car and will need money in a bank acount and might have a job.
2006-10-15 05:42:42 · answer #8 · answered by dudeha 4 · 0⤊ 0⤋
A parent can open a saving account for them...for birthday checks and such at any age. Until they are 16 and have a job there really is no need for checking. I got mine through my parents at 16 for savings. At 18 i did it on my own and got the debit/checking card.
2006-10-15 05:47:08 · answer #9 · answered by Anonymous · 0⤊ 0⤋
9
2006-10-15 05:40:33 · answer #10 · answered by Courtney C 1 · 0⤊ 1⤋
I'm fourteen and my parents say that since I've been saving my money for years now, I can get my own account.
I'd say that maybe you should teach a child how to save money at the age of 6 and then when they get in their teens and they know how money works-then you get them an account.
Some understand how money works earlier than others though.
2006-10-15 05:42:06 · answer #11 · answered by sweetdollツ 7 · 0⤊ 0⤋