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Nairaland Forum / Nairaland / General / Family / At What Age Should I Open Bank Account For My Child? (14972 Views)
At What Age Should An Adult Leave Their Parents’ House? / My Wife Still Uses Her Maiden Name To Open Bank Account / At What Age Should A Child Leave His/Her Parents And Start An Independent Life? (2) (3) (4)
Re: At What Age Should I Open Bank Account For My Child? by touwo: 3:47pm On Jul 19, 2017 |
When you have money to deposite 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by holluphemydavid(m): 3:48pm On Jul 19, 2017 |
i tink dis question is very relevant,let me read people's comments 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by Fhemmmy: 3:48pm On Jul 19, 2017 |
A child should be exposed to savings from the day the child knows what money is . . . 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by lonelydora: 3:49pm On Jul 19, 2017 |
Joyekpen: I take my son to the bank always. Explain how money is put and taken from the bank. If you ask him today, he will say, bank is a place daddy goes to bring money. It's nice doing this stuff. 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by macsvc: 3:50pm On Jul 19, 2017 |
This is a nice question and my candid answer is once your child is of good age say 15 years of age so that he/she can always access his/her account personally . |
Re: At What Age Should I Open Bank Account For My Child? by Jabioro: 3:50pm On Jul 19, 2017 |
skillzbae:Too late.. immediately he/she is out of birth blood.. I did something very funny when I wanted to registered my corporate company and I need a share holders name I used the name of my unborn kids to do the needful. Some times ago she was searching through my private drawer at home and she found all the filed and date along with her name... two years ahead of her birth.. Daddy how come you know I was coming, I have to prepared for tomorrow by today.. I knew you will definitely arrived my dear.. then I have not even met her mother. .. 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by akreest(m): 3:51pm On Jul 19, 2017 |
Damminglola: Supported. Did the same and have paid in a fixed amount every month since then towards their University education 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by Kokaine(m): 3:52pm On Jul 19, 2017 |
first thing tomorrow morning. |
Re: At What Age Should I Open Bank Account For My Child? by RillJ(m): 3:52pm On Jul 19, 2017 |
skillzbae: Gifts and donations at naming ceremony would make a good first deposit. Try a do monthly deposits. If on salary, monthly direct debit from your salary to credit the child's account is the best way to go. You can always increase the monthly deposit as your salary increases. (N10k monthly will yield N120k per year - N2.04m (minus accrued interest) by the time he/she is 17. Whenever you make profits from side biz, gift your child some money and credit the account You will need to discipline yourself a lot, never consider 'borrowing' from this account. The child can easily be a millionaire by the time he is to enter university, then you may draw from here to pay the fees if you cannot handle it otherwise. 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by ofuonyebi: 3:54pm On Jul 19, 2017 |
I think the question here should really be, do you have money to save? No one tells a grown up how to open the can of a milk to drink it...No bi so?s 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by Jacksonmava(f): 3:55pm On Jul 19, 2017 |
NwaAmaikpe:Pls shut up.... It seems you've ran out of things to say. Like someone said, you're becoming boring, but to me, you're now boring as f**k! 7 Likes |
Re: At What Age Should I Open Bank Account For My Child? by Macmoni(m): 3:55pm On Jul 19, 2017 |
Wen he or she have mmature enogh to Bleep |
Re: At What Age Should I Open Bank Account For My Child? by Philinho(m): 3:57pm On Jul 19, 2017 |
When he or she is in d womb |
Re: At What Age Should I Open Bank Account For My Child? by lPOB: 4:01pm On Jul 19, 2017 |
superdokun: This is not my kind of issues to address. But let me tell you as a fellow father. Open an investment, not a bank account. Funnel the money you want to save into that investment, even if its a barbing salon. Don't let the banks do business with your money. Use it for her own investment. Pay school fees and every other thing from the proceeds of the business. Do not use it for house feeding.. Be the wiser one. 4 Likes 1 Share |
Re: At What Age Should I Open Bank Account For My Child? by NwaAmaikpe: 4:02pm On Jul 19, 2017 |
Jacksonmava: Spend more time on your brain than your makeup. Beauty is a cerebral thing. Boring?? I'm not a novel or a movie, I'm commenting just like you. 7 Likes 1 Share |
Re: At What Age Should I Open Bank Account For My Child? by CHAVINCI: 4:02pm On Jul 19, 2017 |
NwaAmaikpe:when a person is mentally disable,he wuld neva feel any pain except dose around him,same likewise when a person iz foolish |
Re: At What Age Should I Open Bank Account For My Child? by MTKbudapest(m): 4:03pm On Jul 19, 2017 |
why u no come adopt me? For sure i go follow u go then u just open d account 4 me. u shouldn't care abt d age anymore cos im almost old |
Re: At What Age Should I Open Bank Account For My Child? by Agozie48: 4:08pm On Jul 19, 2017 |
NwaAmaikpe: WRONG ANSWER 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by Jacksonmava(f): 4:09pm On Jul 19, 2017 |
NwaAmaikpe:guy, wetin concern you with my make-up or beauty? If you want to comment, make small sense Abeg!! All you say is trash. 2 Likes |
Re: At What Age Should I Open Bank Account For My Child? by ogbada33: 4:09pm On Jul 19, 2017 |
Your child can have an account at any age but since legally binding contracts can only be sealed at maturity, the child would not be able to operate such an account. You will operate the account and at 18 it will be ceded to the child. |
Re: At What Age Should I Open Bank Account For My Child? by angusm: 4:12pm On Jul 19, 2017 |
[quote author=superdokun post=58610729]good day house. please at what age do you think its appropriate to open a bank account for my child and also expose my child to the habit of saving? thank you[/ when ever u wish |
Re: At What Age Should I Open Bank Account For My Child? by nextstep(m): 4:17pm On Jul 19, 2017 |
NwaAmaikpe: Are you being sarcastic? There's nothing wrong with children learning to be responsible with money. Most adults get into serious trouble with money management because they were not taught early. If somebody is miserly, they would have been so anyway, and that's usually a sign of lack. Teach your child to save 20%, tithe 10%, use 60% for your living, and flex with the remainder 10%. I will also echo the very smart comment by lPOB: |
Re: At What Age Should I Open Bank Account For My Child? by dallyemmy: 4:18pm On Jul 19, 2017 |
Age 0 |
Re: At What Age Should I Open Bank Account For My Child? by mfm04622: 4:20pm On Jul 19, 2017 |
Immediately you give birth to him or her |
Re: At What Age Should I Open Bank Account For My Child? by NL1960: 4:23pm On Jul 19, 2017 |
lPOB: Do not agree with this. Opening a business requires capital and the OP is not talking like he/she inherited a huge sum of money that he/she wants to put into a savings account for the child. People normally talk about opening a business as if a business is opened with a zero amount. Constant and periodic putting of an amount into an account, no matter how small for the kid is the key here. 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by martyns303(m): 4:24pm On Jul 19, 2017 |
otijah: Can I open an account for an unborn child? |
Re: At What Age Should I Open Bank Account For My Child? by darlenese(f): 4:26pm On Jul 19, 2017 |
after saving 1m for my son, I decided to use the get a property instead, it's been two years now and the property is now worth twice the amount I bought it. my original plan was to save the money till he turns 18, but the business woman in me allow me, I felt cheated. imagine saving in the bank for 18 years will the money appreciate or depreciate? 1 Like |
Re: At What Age Should I Open Bank Account For My Child? by otijah(m): 4:28pm On Jul 19, 2017 |
martyns303:No nah, that's not possible cause all accounts needs passport, both the child and the gaurantor's. |
Re: At What Age Should I Open Bank Account For My Child? by martyns303(m): 4:36pm On Jul 19, 2017 |
otijah: Thanks, do they however have some sort of a program or system where one can be saving money for an unborn child? |
Re: At What Age Should I Open Bank Account For My Child? by amosyanyan(m): 4:38pm On Jul 19, 2017 |
I love this...I'll look into it too but is it mandatory to take her alongside to the bank she's just 9months old |
Re: At What Age Should I Open Bank Account For My Child? by Patented: 4:44pm On Jul 19, 2017 |
NOW!!! |
Re: At What Age Should I Open Bank Account For My Child? by otijah(m): 4:44pm On Jul 19, 2017 |
martyns303:well I don't think such occurs, its your own personal decision to do so. Thereby opening a fix deposit account, using it to save for ur unborn child |
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