Let’s be real: I didn’t grow up with a trust fund or a golden inheritance waiting for me. My parents worked hard, and so did I. And while I won’t be receiving a financial windfall, I’ve made it my mission to change the narrative for my child.
My dream? That they grow up doing something they love—without the stress of financial instability. So, I’m laying the groundwork now, teaching them financial literacy and building a solid foundation for their future. Here are three simple but powerful ways I’m investing in my child’s financial success:
1. Supercharging Their Savings
I started with a regular savings account at our local credit union. They had a great promo: deposit a certain amount, and they’d throw in $200 for free. Yes, please!
Once that promo ended, I leveled up and moved everything into a high-yield savings account. Why? Because it earns more interest—aka, free money while my kid sleeps. The goal is to let compound interest do its magic over time.
Pro tip: Look out for bank promos and always compare interest rates. Your child’s money should be working harder than you are!
2. Building Wealth Through a Custodial Brokerage Account
I’m a firm believer that the stock market is one of the easiest ways to build wealth. You don’t need to be a financial wizard or spend hours researching. The secret? Start early and automate.
Every paycheck, I deposit $10 into my child’s brokerage account. Then I invest it in fractional shares—yes, you can buy a slice of Apple or Amazon stock for just $5 using platforms like Charles Schwab.
My child has already hit milestones that took me years to reach. Why? Because I was too scared to start. But now, I’m showing them that investing doesn’t have to be intimidating, it just has to be consistent.
3. Planning for college with a 529 Account
My parents always encouraged me to go to college, but they were honest: they couldn’t afford to pay for it. I want my child to have options—whether it’s a university, trade school, or any post-secondary education—without drowning in student loans.
That’s why I opened a 529 account. It’s a tax-free investment account specifically for education expenses. The earlier you start, the more time that money has to grow. And yes, you can invest in high-return options within the account.
Bonus: Some states offer tax deductions or credits for contributions. It’s a win-win!
Final Thoughts
I’m not trying to raise a millionaire overnight. I’m trying to raise a financially confident human who understands the value of money and how to make it work for them. These three steps are simple, doable, and incredibly impactful.
Whether you’re a parent, guardian, or just someone who wants to break the cycle—start now. Your future self (and your child) will thank you.
A Quick Reality Check: Priorities Matter
Before anything else, I’m making sure my own financial house is in order. That means saving for retirement, keeping debt to a minimum (just the mortgage!), and having an emergency fund ready for life’s curveballs.
I love my child deeply—but I won’t sacrifice my financial stability or go into debt to pay for their college. They’ll have to chart their own course, and that’s exactly why I’m teaching them financial literacy now.
It’s like that classic advice on an airplane: “Put your own oxygen mask on first.” You can’t help others if you’re not secure yourself. And when I’m financially strong, I’m better equipped to guide and support my child toward their own success.
The Determined Mama 