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Reply to "What to Do About Money "Stuffed Under Mattress""
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[quote=Anonymous]Open up a savings account for each of you and the kids, so everyone has their own account and own savings. We get birthday presents, graduation gifts, and whatnot from relatives. We decide on an amount the kids want to keep to spend however they wish, and the rest goes into their savings account. This is separate from any college savings we save for them. It's their money, ideally, for when they are older and want to take a big trip, buy a car, or just to start out their new life after college. My kids are older now and each of them has several thousand dollars in each of their accounts. You can do that for each of your kids and yourself, too. Good luck![/quote]
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