Friday, June 6, 2014

The Kid Account

About a year ago, I started money into a "Kid" subaccount at CapOne360.  I figured that random things tend to come up, like field trips, and I might as well be prepared.  I am so glad that I did!!!

First off....yay me for saving for this stuff.  Second, I randomly chose $10 a payperiod just because it seemed like a small amount per check, but enough that it should cover the incidentals as they came up.  Third, I had no idea what the expenses were actually going to be. 

This year, the kids had NUMEROUS field trips.  And to my dismay, several of them have been in the past several weeks (Between May 12 and June 20, they have FOUR).  Since September they:
  • Went to the big agricultural fair - $3 per child
  • Went to a play - $20 per child
  • Walked to the high school for plays and productions (3x, I think)- free
  • Went to the zoo - $20 per child
  • Went to a state park - free
  • College tour the last week of school - $12 per child
That is $55 per $110 in total.  Just for field trips!  To you parents of younger kids....gone are the days of sending in $2 for a trip....start saving now.

Add in 3 school dances ticket.....$15 total.

Scout fees for the year, camping, and other trips - $90

And the latest $16 each.  Now, I really don't think the yearbooks are NEEDED.  Particularly for Bossy.  But Sassy worked on the yearbook staff, and Bossy won "Best Smile" for his team (which we think is hysterical since we go back to the orthodontist in 2 weeks to see if we can get started with the $6000 work!!).  ***And we will not be buying yearbooks again until their Senior Year of highschool....if they want them in between....that is piggy bank money!***

And the result of all of this:
  • Total spent:  $247
  • Total Deposited so far: $250
  • Balance left: $3
It just so happened that I save JUST enough for all of this.  That is purely accidental.  But it has taught me that 1)  There are more incidentals that I realize!,  2) As Bossy gets further along in Scouts, he will need more money for this (he is half way to his 2nd Class!),  and 3)  Sassy didn't have alot of activity this year, but as she gets older, this will probably change.

I am very happy with the results from the year and very happy that we were able to budget for this.  But I think I am going to up the amount to $15 per paycheck, which will save an additional $130 per year.  Hopefully this will cover any activities that Sassy may have next year, and if she doesn't need it, it will just roll over.  At some point it will get used (heck, the kid is going to go to homecoming, prom, etc eventually!)

I am sure our activity fees are small compared to alot of families who are active in sports, dance, etc.  A few years ago I would not have even thought about budgeting for this.....but I am glad I did!


  1. I LOVE looking back on my yearbooks. I have one every year from kindergarten through senior year.

    1. My kids have one from 5th grade (end of elementary school). But K-4....nope. It was hit or miss each year if they were even offered. Many times the school only did a "5th grade" book, so there was no reason to purchase that when they were in 2nd grade.

      I personally have a 6th grade, 8th, and then 9-12th yearbooks. In a box. In the attic.

      I don't see Bossy caring AT ALL about any of this. And Sassy....maybe by high school. But she got her yearbook, and tossed it aside. We are not going to spend a fortune of this.

  2. Those high school yearbooks have gotten way out of hand - $65 each when DD was in high school and she graduated in 2006!!! They were her Christmas present from her grandparents throughout high school.

    1. $65 for a yearbook? Good grief! I better start saving now.

  3. You are so right about the kid incidentals. They add up QUICK! As for yearbooks, cannot help it, but I am a BIG believer in them. My kids have one from every single year. My younger two don't since they are in high school, but I make all my kids get them. Even if it is just one per school.

    Reason being, when I met my husband - it turns out, we went to the same elementary school! Even though I moved after that year and moved of of state. I still have that book and we both still marvel over it.

  4. You are so right about end of year expenses! It seems to snowball. Here the elementary yearbooks are $30 and high school yearbooks are $85. It is insane!

  5. That is awesome that you thought to do this!! I think I will start a kid account too! We do yearbooks every year, I don't think they really care but I do. I often look through my yearbooks & am so glad I have them all.

    1. I can see why some people really like having just isn't "me." Sassy will probably want one for each year of HS....we will see.

      I am so glad I started the kid account. I will almost guarantee that if the money had not been put aside, we would have spent $250 on general "stuff" and then another $250 on the kids!

  6. Ha, what are the chances you got to cover all of it with an account funded solely for it? That's awesome. And yeah, I am surprised myself... sippy cup here, drinks there, toys, extra clothes... and I'm just an aunt! I have no opinion on yearbooks. It isn't something we did back in the Caribbean, and I didn't get my US one. Maybe one every few years to see the progression... but I guess at $16/ea isn't too bad. I've heard high school ones are like $50-75. Ouch.

    1. I am shocked at how the numbers turned out. I just squeaked by!!! But it was a good experiment, and now I know that it is 1) needed, 2) needs to be padded just a little, and 3) I may need to start saving sooner than later for the bigger expenses, like Senior year!!!

      $16 isn't horrid in itself for the yearbook. But the yearbook isn't that spectacular either.