Home budget, money • I have three kids, ages 13, 10, and 8

I have three kids, ages 13, 10, and 8

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They each have a long-term account at ING (Capital One) that they use to save for a car. They have between $200-$400 in their accounts. I’m thinking maybe I should move the money to a money market or some other investment vehicle that would give them a better return on their money. Since the savings account is only giving them $.12 to $.24 a month.

Obviously the 13 year old has less than 3 years to invest before she will take it out, but the other two have 6 plus years.

Any thoughts?

Author:kesadmin