My eldest two were born in Northern Ireland and at that time when you opened a bank account at birth and put a small amount in, the government topped it up yearly with a good amount I believe till they were 18. We left Northern Ireland when they were 3 and 4 year old, yet this amount was paid out when they were 18. I believe this was an iniative to encourage youngsters to go to university

My husband and I just opened up a kids savings account with nab which links to our joint account.Here we are able to transfer and top up $10 or whatever we can on a monthly basis.This is great for a start

Along with my comments below about a savings account and money for saving and money for spending; it is important for children to learn to be financially literate. It is important for children to learn about the cost of food, clothes, toys, books, entertainment and activities. Starting off age appropriate education in this area at a young age is so important.

I’m a single mum too! To a 2.5 year old toddler, I know she’s young but also wanted to create a savings account for her to be able to access in the future. My plan is to create an account and put some money in each pay so it can accumulate interest. I heard bendigo bank offers accounts to kids under 12 but not sure if it has interest. I’ll have to do more research!

A savings account from a very young age is a wonderful way for children to learn about saving money. We set up savings accounts from a very early age and some pocket money being for spending and some being for saving. It is great for children to see their savings grow.

I think a bank account is a great idea. A while back my husband invested some funds into crypto that had a good return that was put away for the future. But the tricky thing there is it’s so volatile that you are taking a big gamble. He was watching the market a lot at the time