Does anyone give money to their kids to save?

[MrsBlobby]

If so, how do you go about it?

We transfer money onto their saving account each month (not a huge amount)and then take the books into the bank to be updated every now and then so they can actually see how much they have.
Also my 2 have really clicked with the idea of saving so if they get money given for any reason they run and put it in their piggy bank!

They also have a savings account run by their grandparents in UK who put regular amounts in.

Our DS has 2 savings accounts in England run by his grandparents and then we give him all the change (anything under 1 euro) that we have in our purses at the end of the week & periodially we take it to the bank & update his book.

We give DC a small amount each week to fritter away and then another small amount into their bank accounts each month.

DS can't spend his money fast enough but DD is like a bank!

It's amazing how their characters are set at such an early age!

What does everyone else do? Do you find that it teaches them to appreciate money and savings?

My DS is only 13 months at the moment, but I'd like to get him into good habits.

(that is, as soon as he's aware!) In the meantime I'd like to build up something for him in the future, so any ideas welcome!

We have a standing order of £10 per month into the Child Trust Fund.

We put any money given to DD into a special trust account for her. She knows it exists, but not how much is in there. We don't add to it ourselves as it would then be counted as taxable.

Really? How do you go about setting up a trust account and how exactly does the tax thing work?