My child is nearly 18 - do I hand over all the savings for college? or should I manage the accounts?
in Savings & investments
22 replies 1.5K views
Any advice on what to do with the money I saved to get my child to college? Should I just put it all into one account for them or should I hold onto some? What did you do?
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If it's just earmarked for them but has been saved in your own accounts then I'd drip feed it to them.
As previously mentioned if it is your money but just earmarked for them I personally would just transfer to them as and when
That's a harsh life lesson to learn at 16. ☹️
Myself from a young age I have been good with money but one size does not fit all.
You can guide and advice the 18 years old so they do not make wrong choices and decisions.
Then again you can guide but they ultimately will have the choice.