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DD Has Her Own Checking Acct

October 12th, 2013 at 05:37 pm

Our 12 year-old DD has her own free checking and linked savings account now. She feels very grown up and is taking it very seriously. She is a mature, responsible girl and I figure it is never too early to understand banking. It also makes sense for her to have an account to deposit into and "manage" now that she is getting at least one check every month from the survey company.

She is making both DH and I very proud because she has been saving half of any money she gets for many months now.
Her savings account has a larger balance than her checking account. Smile

I was 16 when I opened my first checking account.
How old were you?

Posted in Kids! | 11 Comments »

11 Responses to “DD Has Her Own Checking Acct”

  1. snafu Says:
    October 12th, 2013 at 06:13 pm 1381601589
    1381601589

    Did you need to co-sign for these two accounts. I recall having a savings account that allowed 3 withdraws each month by age 13. I was babysitting for regular, ongoing dates and some people paid a month at a time

  2. Looking Forward Says:
    October 12th, 2013 at 06:22 pm 1381602122
    1381602122

    Yes, I'm a co-signer/user on her accounts. I have a card and online access. There are no limits to number of transactions. I also didn't chose to limit her amounts she could use per day.

  3. Petunia 100 Says:
    October 12th, 2013 at 06:27 pm 1381602436
    1381602436

    I opened my first checking account shortly after I graduated from high school. Your dd is way ahead of the curve!Smile

  4. MonkeyMama Says:
    October 12th, 2013 at 08:12 pm 1381608756
    1381608756

    That is great!

    I don't remember exactly how old I was, but probably age 16. Maybe 13 or 14 (in high school/did lots of babysitting), but I don't remember writing any checks in particular before I was 16.

  5. LuckyRobin Says:
    October 12th, 2013 at 10:46 pm 1381617987
    1381617987

    I had a savings account from around age 5, but no checking until I had a full-time job (not just a summer job) at 19. I can't imagine having one at 12, even though I worked summers and babysat.

  6. HouseHopeful Says:
    October 13th, 2013 at 01:41 pm 1381671688
    1381671688

    That is awesome! I think I was 15 when I opened one. I had just gotten my first job!

  7. scottish girl Says:
    October 13th, 2013 at 07:07 pm 1381691257
    1381691257

    That's great! I was 16. It was when I got my first job.

  8. Ima saver Says:
    October 13th, 2013 at 08:29 pm 1381696163
    1381696163

    I got my first job at age 12 making $3 a day!

  9. rob62521 Says:
    October 13th, 2013 at 11:07 pm 1381705660
    1381705660

    I was 14 when my dad took me to a small town bank and opened up a checking account with me. He explained the importance of keeping money in the account and not writing a bad check and the basics of finance. It was up to me to put money in and not overdraw...I used allowance and gifts for birthday and Christmas.

  10. CB in the City Says:
    October 14th, 2013 at 03:12 pm 1381763549
    1381763549

    I think I was a freshman in college -- or maybe it was the summer before. That's when I had my first real job.

  11. FrugalTexan75 Says:
    October 15th, 2013 at 01:27 am 1381800432
    1381800432

    I'm not sure exactly how old I was when I got a savings account - sometime in elementary school. My first checking account was after I graduated from high-school I think.

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