anyone got a baby fund?

[Danni]

dh and i have just opened a high interest "baby fund"

it costs nothing to have and we thought it would be a great idea to start saving for when we finally do have a baby

anyone else got one before conceiving?

[butterfly_warrior]

we have a high interest savings fund - and have started seriously putting money into it recently - not thinking of it as a baby fund, but I imagine that's where a lot of the money will be used in the future.

BW

[Astrolady]

we have two childrens bank accounts which we got just after Lach was born, and a set amount of money comes automatically out of our account and into theirs each fortnight, so it has build up quite nicely over the last 18mths

Love

[Trillian]

We don't have a bank account, but a Managed Fund for all the kids. We set it up after Lindsay was born and we have a set amount we pay into it each month.

[Janie]

We do (just an ING a/c). We put $20 a week in - although we will probably need to put more in now!

[*TamaraP*]

We have a normale Bendiga Bank account with the interest I think at 5.5% for us.

We save $120 p.w in there and we have been saving since December last year.

We haven't touched it and I can tell you from just putting away that 120 p.w we have saved now.

$2,110.00 (we started with just 200 in there).

Another way to save money is to put 10% away of your combined incomes. So say your total for the week is 1000 bucks put away 100 bucks a week.


I am aiming to save 10,000 (plus baby bonus) before we have children.

[kyliealysha]

No we don't.

Any spare cash we have is offset against our mortgage, so instead of getting paid interest and then having to pay tax on the interest it reduces the amount of interest we pay on our homeloan. We can redraw any time we like it just takes 24 hours to transfer.

[Naru]

We're the same - all our spare money goes into the offset account.