Saving for your child, how do you start?

Now that you are a parent, you would probably like to do the same for your child. But how do you get started? Is it possible for everyone? We get you started!

It isn't necessary to put aside a large sum of money every month. It is better to save a small amount each month and reach your goal slowly but surely. So the earlier you start, the better. No one can predict what the interest rates will be in 5 to 10 years from now. But even if we take a very pessimistic rate, did you know that if you save 10 euros a month from the time your child is born until adulthood he or she will have  2,200 euros!

You may not have thought of it, but a savings account can also be a fantastic educational tool for teaching your child how to manage money. 

There are indeed times (birthdays, Christmas, New Year's, end of school year, etc.) when your child may receive a lot of small gifts of money. But perhaps he or she is dreaming about something on a bigger scale. For example, a weekend at an amusement park, the latest bike or a game console.

If your child is of the appropriate age, he or she can tell grandparents, godfathers and godmothers about this project, and they will no doubt be delighted to contribute a modest amount to their savings account.

The advantage for your child: learns to set priorities. A great gift for the future

Unlike a piggy bank, a savings account for a child is still a simple and safe way to put money aside.

• It's more secure: no one will be able to come and steal your money while you are away.
• More guaranteed: you are sure your child will not use the money to buy useless gadgets. For that, he or she will have pocket money after a certain age. It is important therefore not to confuse saving for your child's future with learning the value of money with his or her pocket money.

Open a savings account for your child