Money for kids

[SuburbanFarmer]

I'm a bit conflicted on what to do with money sent from relatives on the birth of my kids.

I know that inflation isn't going anywhere, and savings accounts don't really pay interest. Diesbt it make more sense to spend it now on things that would otherwise be financed with interest, benefiting the family as a whole?

Doesn't feel right, but I think it's the logical choice...Just have to convince their mother.

[heydaralon]

You should create a reddit account for your kids and start posting and then gild the comments. That way, when your kids turn 18 they will have a lot of reddit gold, and they will be able to put that on a resume or college application.

[Okeefenokee]

Buy baby supplies in bulk.

Diapers, wipes. Formula if you're using it. Just stock the hell up, if you haven't already.

[heydaralon]

GCF:

You should use the money to get your kids an iphone 6! That way, when they turn 18, they will have a brand new in-the-box iphone 6!

[MilSpecs]

Money given to kids throughout their lifetime belongs to them. I put the kids' money into UGMA/UTMA investment accounts. It paid for part of their college education. One kid will even have a nice chunk of change left over. Ethics aside and just being practical, they will need that money much more later than you need it now.

[de officiis]

Money given to kids throughout their lifetime belongs to them. I put the kids' money into UGMA/UTMA investment accounts. It paid for part of their college education. One kid will even have a nice chunk of change left over. Ethics aside and just being practical, they will need that money much more later than you need it now.

Time value of money works wonders when left unmolested

[C-Mag]

Invest in soft metals.
Gold, Silver, Lead

[heydaralon]

Blockbuster stock.

[SuburbanFarmer]

Money given to kids throughout their lifetime belongs to them. I put the kids' money into UGMA/UTMA investment accounts. It paid for part of their college education. One kid will even have a nice chunk of change left over. Ethics aside and just being practical, they will need that money much more later than you need it now.

Interesting. How do you set those up?

Also, I'm not certain that any amount of financial investment is going to outweigh inflation, or the impact of interest on our upcoming minivan purchase, but I'll listen to any educated opinions.

@okee - we have enough supply for 3 more kids ATM.

[heydaralon]

Money given to kids throughout their lifetime belongs to them. I put the kids' money into UGMA/UTMA investment accounts. It paid for part of their college education. One kid will even have a nice chunk of change left over. Ethics aside and just being practical, they will need that money much more later than you need it now.

Interesting. How do you set those up?

Also, I'm not certain that any amount of financial investment is going to outweigh inflation, or the impact of interest on our upcoming minivan purchase, but I'll listen to any educated opinions.

@okee - we have enough supply for 3 more kids ATM.

Yeah take milspecs stupid idea but don't listen to my good ones. Nice, man. Nice.