jessjacobsq asked:


I bank with Bank of America and they offer a custodial savings account. I like this option because I can transfer money each week from my checking account to this account. I don’t understand about why they report interest rate to child’s credit report. Any help there would be great. Also are there any other investments I can start besides the savings account that requires small amount of money up front for my three yr old then also start for my 1 yr old.
Thanks

Virginia

Nicholas N asked:


I have a good amount of money saved up in the bank, and soon I will be applying to colleges and all that jazz. I’ve been told that it’s best to take your savings OUT of the bank to receive better financial aid, but this doesn’t seem right to me.

Erik