What’s the Best Way to Save Money (for Kids)?

What’s the Best Way to Save Money (for Kids)?

This article is written in partnership with Todlr, a supporter of Peanut and women alike.

As a parent, you want to see your babe thrive in every sense of the word, so we’re exploring the best way to save money for kids to help you secure them a future that’s worry-free.

Your baby’s future is always on your mind and one of the greatest investments you will ever make.

What you teach them and how you bond with them will play key roles in the super-human they become and their future ambitions

No doubt, you want your baby to have a future without limits, least of all financial ones.

Preparation may be a mom’s best asset, but how do you prepare for what you don’t see coming?

And how do you teach your little one to prepare for the unpredictable while still fostering a healthy curiosity for the unknown?

We asked our Peanut moms, and they agree: starting an investment plan early is key, and no app helps you do this quite like Todlr.

In this article: 📝

  • How to save money for kids?
  • What is the best savings account for a child?
  • What makes Todlr the best way to save money for kids?
  • How much should you invest in your children’s savings plan?
  • What is the best way to invest for a child’s future?

How to save money for kids?

Building generational wealth begins at home, which is easier said than done, really.

From tooth fairies to special events, it’s easy for the whole family to get caught up in the excitement of childhood and spend all of the cash gifts too quickly, instead of thinking about what long-term investments will pay off more in the future.

But imagine if all the money gifted to your child was put safely into a children’s investment account until their 18th birthday?

They could easily fund their college education, their first car, or even a down payment on their first house.

And best of all, you won’t have to worry about your child’s financial future.

The gift of money can be a powerful way of teaching your child the value of saving early and how to build a nest egg.

What is the best savings account for a child?

There is no better incentive to save than seeing your funds multiply, so the best savings account will be one that lets your child watch their nest egg build in real time towards a clear goal.

Which is precisely why Todlr has come out on top in our community as the best savings and investment account for children.

Peanut moms love that Todlr isn’t just an investment account where you add money for your child and leave it there—not by a long shot.

This is financial security, education, and bonding all in one.

Because when considering the best way to save money for kids’ college, our moms know that a children’s investment plan is more than a smart choice; it’s a solid investment in their future that every person in their world can take part in.

What makes Todlr the best way to save money for kids?

Think of Todlr as a personal financial advisor with the singular goal of funding your little one’s future ambitions ‒ no matter how big.

And it achieves it all through goal-based investing.

Todlr’s focus on little investments that build over time is its biggest appeal for our moms, allowing them to make big steps towards financial security no matter the size of their household income.

You can literally start investing for your child’s future with $1 and 0 investment experience.

All Todlr requires are your goals, timeline, and risk tolerance, and it will curate an expertly-designed portfolio made with your child’s future in mind.

There’s even an option to invite other family members to co-invest and turn gift money into a meaningful asset.

Speaking of which.

How much should you invest in your children’s savings plan?

This is a tricky question.

Not all families earn the same amount or have the same expenditures.

So, there is no single right answer, but there are options.

You could decide to limit deposits into your child’s investment account to cash gifts, encouraging them to only spend money they earn from chores.

Or, you might choose to invest on behalf of your little one by making investments part of your weekly budget.

What’s important is that you start, no matter how small those first contributions may be.

Parenting comes with huge financial responsibility, but small sums do add up, and Todlr is a great place to start.

Join the Todlr Peanut group to find more ideas of what other families and financial specialists recommend for how much your child should save.

What is the best way to invest for a child’s future?

Investing in your child’s future can include setting them up with their own savings and investments account on an easy-to-use money management app like Todlr.

They’ll even give you a chance to win $1,000 toward your little one’s big goal once you invest at least $10 to their Todlr account — talk about making giant leaps with small steps!

Achieving financial security for your children also involves teaching them about their finances, to set them in good stead for the future.

It’s why Todlr provides in-app kid-friendly money lessons the whole family can take part in and grow from.

Because when we talk about investing for a child’s future, we mean giving them the knowledge and tools they need to keep it going long after the training wheels are off.

Building your kid’s confidence and helping them hone their skills are fundamental to investing in their future.

But the ultimate investment in your child’s future is your time.

So there you have it ‒ our community’s top pick for the best way to save money for kids is, by far, Todlr.

Savings, investments, financial lessons, flexibility, and an easy-to-use app? Yup, Todlr has it all.

Keen to start preparing for your child’s future?

Set up your little one’s Todlr account and start investing for their future now:

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