We believe that the earlier we teach our kids the value of saving money, the better they'll manage their finances when they grow-up. That's why we made sure that both our kids have savings account and whatever money they have, either from grandparents or relatives, it should not be spent and should be saved in the bank. Andrea has plenty of money now, infact she has more cash in her bank account than my own bank account. Fifi is just starting, but in time, she will also have enough to probably pay for her first year in college.
Our family members knew about their savings, so evevrytime the kids go to visit them, they make sure that they give a little cash to add into the girls' bank account. If it keeps on going at this rate, my girls would have enough cash to probably buy a car or to pay college tuition.
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