How to Open a Bank Account
Many Americans rely on retail outlets for financial services instead of using banks and credit unions.
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How to Set A Monthly College Savings Goal
When it comes to achieving success, in any aspect of life, one of the most important steps is setting thoughtful goals.
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Automating Your Savings: Work Towards Saving Goals
David Bach has a point, and his point holds true for saving and investing for our kids.
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College Savings 101: Understand Your Option & Start Early
College for my kids? Ways away, right?
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What Are Interest Rates?
Interest rates might alternate between making you feel great and making you feel like you want to pull the covers over your head.
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How Much Money Should I Have in a Savings Account?
Should you or shouldn't you have money in a savings account? It's such a great question because we all hear the perils of putting money into an account that...
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Saving Solutions for Parents: 529 Plan vs UTMA vs Coverdell
As a parent it's easy to get bewildered by the different investment options available when setting up a savings plan for your kids.
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How To Pay Down High-Interest Debt
When you've decided you want to pay down high-interest debt, give yourself a high-five, a cookie and an ice cream sundae.
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What is Compound Interest?
To put it simply, compound interest is the interest you earn on interest. For example, let's say you invest $100 and it earns five percent interest each year.
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Family Finances During the Pandemic: Americans Are Prioritizing Saving More for their Kids
A Recent UNest/Harris Poll Shows that Parents Saving for their Kids has Increased Dramatically Throughout the Pandemic
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Hear what trusted money experts say about why UTMA and UGMA accounts can be a smart way to invest for a child’s future.
Investing for your kid’s future
Dave Ramsey
Personal Finance Expert
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There are some tax advantages to using UGMA and UTMA accounts… Since they’re in your child’s name, the accounts will be taxed according to their tax bracket… There are no contribution limits on UGMA and UTMA accounts.
Dave Ramsey
Personal Finance Expert
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Straightforward “starter” investing account for kids
Jill Schlesinger
Emmy winning Business Analyst
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…you could consider opening an account where you can dive deeper with the kids by your side. The easiest way to do so is to open a custodial account, known as an UGMA … or UTMA … account.
Jill Schlesinger
Emmy winning Business Analyst
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Give children money that can accumulate over time
Jim Cramer
CNBC Host
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You can give children money that can accumulate somewhat tax-free over time... I love them (UTMAs) because they were like, trusts that you didn’t need lawyers to create.... I think it’s one of the better tax breaks around though. I know hunting for tax breaks may not sound very exciting, but that’s how you take care of your family.
Jim Cramer
CNBC Host
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