The best children’s savings account in 2018 to help build their financial futures

Ensuring your child’s financial future

A good education for your child comes with a price tag and as most parents know in order to be able to pay for it you have to save for it.As a parent, you want the best for your child so we at Fast Income has found some of the best savings accounts on offer for children for 2018.  They not only offer some good interest rates but bonuses and packages to help your child manage their own money.

4 Top children’s savings accounts for 2018

#1  Capital One Kids Savings

This is a great account for teens as it offers them an online banking account which helps them to manage their money.It also has to be jointly managed by a parent but still, it gives the child a bit of supervised independence.

It also has a very good interest rate at 1.00% APY

#2 Dollar Savings Account

This is a risk-free deposit account whilst not exactly kids account it offers the highest interest rate with no minimum balance requirement and no monthly fees.  This account has a 1.80% APY on a low-maintenance account with proper instalments will give great returns.

#3 Alliant Kids Savings Account

This is a credit union but offers a very good interest rate at 1.30% APPY for balances of $100 and over.  This account has to be opened before your child turns twelve with the parent as the co-owner of the account.

#4  Citizens Bank College Saver

This is a good long-term saver for your child and can be started for any child under the age of twelve.  If you are consistent with payments with a minimum monthly deposit of $25 up until your child is six and then $50 when they are between six and twelve.  If monthly payments are made consistently up until your child’s 18th birthday they offer a $1000 bonus.

How much does it cost to build a tiny house?

How much money you need to build a tiny house

With the “Tiny House Hunters” show amongst a few trending on TV Tiny houses have become quite popular.Being environmentally friendly, incredibly cute and easy to maintain adds to the allure of these teeny dwellings.  You can even get them on wheels to go!
How much money you need to build a tiny house depends on a number of things and can vary anywhere from around $8300 to $22000 or so.

What makes up the price of building a tiny house

Permits
First, check if it is legal to build a tiny house on your property and if it is you will still have to obtain a permit to build it.Depending on where you live the price of these permits vary and can range from a few hundred dollars to a few thousand dollars.
You can check the permit status and get information, prices, etc. at the American Tiny House Association website.

Labor
The cost of labor can be varying for tiny houses. It depends on the size and time it takes to build the house and the contractors hourly rates.
If you want to save money you could buy a Tiny House DIY Kit that has different building difficulty levels.

Materials
The cost of materials depends on what type of materials you are wanting to use for your tiny house.  You can use new or recycled materials which work out a lot cheaper than new.
Places like Habitat ReStore can make quite a difference in your material costs.

Utilities
The plumbing and electricity are once again dependent on where you live, the contractor who does the installation and the utilities you require.
The average costs range from about $1400 to $4000.

Insulation
Insulation in most houses is quite a huge outlay and it is no different for a tiny house.  But it is always best to pay the initial $1500 to $2000 as it will save your costs on the utilities in the long run.

5 Ways to save money to start your own business

How to save money to start a business

Starting your own business is a great goal.  You may have a great plan to hand and know your brand but no matter what kind of business you are starting you will need to finance it.  Fast Income has put together a guide on how to save money to start a business by cutting back and changing a few things in your day to day living.

5 Ways to save money to start your own business

#1 Budget

Create a strict budget, there are many great phone and PC apps for this that can help you with your day to day spending. They provide you with great reports and some of them will link to your bank accounts as well as various investment accounts.Invest in a high-interest savings account and stick to your monthly savings plan.
Avoid using your debit or credit cards and keep them with you only for emergencies.  Draw out a certain amount of cash each week and pay with cash.  You will be amazed that on the great discounts you can get at some places with cash.

#2 Pay off your mortgage as fast as you can

If you have a mortgage try to pay off a little extra or double if you can each month. You will build up a good credit rating and save on interest.

#3 Keep your car

If you are going to buy a new car make sure it is a good one that you can pay off quickly and keep for a long time to come.  If you already have a newish car look after it and pay it off as quickly as you can.

#4 Cut down on utilities

Watch your heating and water bills.  Try cut down where you can even if it means you may have to wear an extra jumper or pile up the blankets. Or invest in good insulation.  Cutting back on the heat and water bills is also good for the environment.
Keep down your mobile device costs and go prepaid where you can.

#5 Buy smart and cut down on entertainment costs

Buy in bulk when you can.  Cook and eat at home rather to eating out or going to a take-out place.  You can take your leftovers to work for lunch the next day.
Drink at home instead of the pub or at least cut down on drinking at the pub.
Make your own coffee and invest in a good thermo-mug to take it with you if you need too in order to cut down on coffee shops or Star Bucks expenses.