Should I ask my parents to open me saving account?

Im thinking about asking my parents to open me a saving account for my birthday present. I have never saved money my whole entire life so i think now is the right time to start. Or should i just get a laptop instead?

  • Yes (saving account)
    100% (5)78% (7)86% (12)Vote
  • no (laptop)
    0% (0)22% (2)14% (2)Vote
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Most Helpful Girl

  • A saving account will only benefit you in the long run.

    I opened my first account with the help of my Mom around your age.

    I was always a saver though.
    As a child I would always put aside money in my own piggy bank , so I showed responsibility from early on.

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    • I was never a saver. Like i always spend all my allowance in a week or two cause my mom will give me more money if i have spend all of it

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    • Well parents always want to help their kid out, but you have to be self sufficient to keep those things up (expenses). So it's good that u see that.

    • Thanks for mho

What Guys Said 6

  • id go for the laptop instead. Here's the thing... If we're talking about a birthday present here... i think you can't go wrong with a laptop if you don't already have one that works. Having a laptop can help you in a number of ways, including making money from wherever you're at. I think you should start a saving with your own money, mainly because it will matter to you more than money just given to you. And tbh, i don't believe that saving really does much for people nowadays, but let me explain. In the old days of your parents generation, saving money actually meant something, because interest rates were much higher back then, and banks would actually give you a decent return on what you saved with them. Today though, interest rates are at record lows, and they will be that way for the foreseeable future. You're lucky to get even 2% interest from a bank savings account these days. But the whole "you've got to save a portion of your income for retirement" is an old mantra based on old rules. The rules of the game have changed. The new rule today is, "you've got to not only save, but invest those savings if you want money for retirement"

    So if your parents would open for you a brokerage account instead of a savings account, i'd be much more on board with that (even though i think a lot of stocks are overvalued atm) than a savings account, because in a savings account your money isn't doing much of anything... and if inflation is anywhere above 2% in your country, you might actually be loosing money and not even know it. That's why i think you'd be better off with a laptop atm, and use the laptop to do research from where ever you're at on investing in stocks/bonds/commodities. Then once you've brushed up on this stuff, save and invest your own money that you make from w/e job you may pick up here and there. That's my opinion anyhow

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  • i would highly recommend a savings account , you can let it draw interest we all should have some type of savings account.

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  • You should open it on your own. Do you want your parents also be on the account and require a two signature for withdrawals?

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    • I want them to give me the money so i can open one myself

  • Your 18 you don't need them to open one for you

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  • SAVING SOUNDS A GOOD IDEA

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  • if you're 18 you should be able to open one without your parents so get the laptop.

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What Girls Said 4

  • Gosh.. Why have you never, ever thought about opening one yourself? .. I had my first one when I was five years old.

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    • I always spend all my allowance cause i know they'll give me more if i have spend it all

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    • This is indeed very sad to read

      Both my parents and grandparents (on my mothers side) are/were more than just wealthy.. I really should not be saying this here, but my beloved late grandfather died a multi multi millionaire, having been an extremely successful businessman.. I actually now own and run two of his businesses and have since bought and added a third.

      Anyway I digress.. Even though I could have "wanted for nothing" I along with my elder sister and younger brother were made to understand from a very early age, in my case 5 years old, the value of money.. In fact my grandfather taught me this most wonderful and true saying.. "Spend A Little Save A Little".

      This has without a doubt, held me in very, very good stead both in growing up and in business.

      It is though never too late to start.. So I wish you the very best of luck in trying to perhaps stand on your own two feet, and not rely on your parents to keep you forever.

    • Yea my dad was on the top 10 riches person in my country few years ago. Anyways i am planning on doing that. I've been trying to save some money for the last couple of months but i just have this urge to spend it all. Its just really hard for me. So i think by them opening me an account will help a lot

  • Umm if you're 18-24, why don't you open your own savings account? or do you mean have them pay to open it?

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  • I thought that only underaged people needed an account under their parents o. o. I would save up so that you can buy more things in the future and get the laptop later.

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    • I only need the money and i also need a credit card. I can't open a credit card account until im 21

  • Why can't you do it yourself? You're 18-24

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