Stocks can be expensive and risky, which makes them an ideal investment for older children who have had more time to learn about money and investing.
Mutual funds are made up of stocks from different companies so you don’t have to worry about looking for individual stocks or choosing the right ones for your child.
A savings account for a child isn't just a place to store their money. It's also a way for them to learn about the value of saving and the importance of taking care of money.
If you're looking to introduce investment ideas for kids they can later venture on, here are the great ideas for you.
These accounts allow people to earn higher returns on their savings than a normal savings account and they usually have a limit on the number of withdrawals allowed in a certain period.