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Reply to "Pros and cons of child bank account"
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[quote=Anonymous][quote=Anonymous]There is no negative to getting them their own bank account. You would be on it too and have complete access. They need to know how money works.[/quote] The negative is that if you might qualify for financial aid for college..money that is in your child's name is counting at a high rate for contributions. If it is just a small amount or you are unlikely to qualify then not an issue,[/quote]
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