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.