Best for young children: PNC’s ‘S’ is for Savings Why we chose it: The bank has a learning center where kids can learn from Sesame Street characters. The ‘S’ is for Savings account offered by PNC Bank is
How to Use a Savings Account You could use a savings account to: Build an emergency fund forunexpected expenses. Save for big future purchases, such as a new car or the down payment on a home. Build extra cash for joint goals, such as a family vacation. ...
You can have accounts at more than one bank, such as a checking account at a traditional bank and a savings account at an online one. If you need to transfer funds between accounts at different banks, the process to link them will be a bit more complicated than it would be if the acc...
529 college savings plans and financial aid packages might not always be sufficient to cover your child's higher education. Parent student loans can be a helpful college funding option since it removes some of the repayment burden from students and places it onto the parents. However, before app...
An Alliant Kids Savings Account can be opened for children 12 and younger. Anytime the account balance exceeds $100, Alliant will pay a respectable 3.10% APY (as of May 2023) with no maximum balance for earning that rate.2The account can be accessed with a mobile banking app that has pa...
Another savings option for parents, similar in some ways to a 529 plan, is aCoverdell Education Savings Account, known as an ESA. It's a tax-advantaged account designed to help families save for elementary, secondary and college expenses. There are somespecific requ...
One suggestion is to take out ahome equity line of credit. Others say dip into yourRoth IRA. For many, these are not possible, let alone advisable. And the suggestion that you should have opened up a 529 college savings account isn’t really helpful at this point in the process. ...
A parent can open a savings account at a traditional or online bank for a child of any age, as long as the adult is the primary or joint account holder. It's easy to contribute money via in-person or digital bank deposits—or even automatic transfers from another account. More good new...
Alternatively, being added as an authorized user on someone else's account could help you jump-start your credit journey, especially since many banks have no minimum age requirements for authorized users. Below, CNBC Select shares the best credit cards for 18-year-olds, including credit cards ...
Some banks will give you a cash bonus for opening up a new checking or savings account. If you follow their rules, you could walk away with hundreds of dollars.