What to Do With Cash Gifts for Your Kids
Tags: Parenting
Got cash gifts for your kids and not sure what to do? Here's how I handle cash gifts for my kids with a simple plan: split money into spend, give and invest, open a custodial account or a 529 for long term goals, and teach saving, budgeting and investing. Fun detail, my son got a lucky red envelope. Two PFC rules: live below your means, invest early and often.
Rolly's Take
For the mindful parent looking to weave financial wisdom into the fabric of family life. It speaks to those who understand that teaching children about money is just as vital as nurturing their dreams — a blend of practicality and legacy, wrapped in a tradition of good fortune.