Tracking investments for kids

Discussion in 'Shares & Funds' started by QbiK Evolution, 2nd Oct, 2019.

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  1. QbiK Evolution

    QbiK Evolution Well-Known Member

    Joined:
    17th Jul, 2015
    Posts:
    207
    Location:
    Perth
    Good morning everyone i'm hoping some knowledgeable people here can help me out. I'm very new to the share game as I've been focused on property mainly.
    However for the past year or so i have been dabbling in investing through Acorns/ RAIZ as a way to get into the share market and see how it all functions. I'm quite comfortable with this so am looking to start buying ETF's direct through a broker moving forward.

    Recently i have had my first child and we would like to start investing some money each week for him. I've since been told that relatives would also like to do similar, I'm trying to figure out a way of tracking these investments separately however. It would be nice for his Grandfather to say this chunk of money i saved for your first car or a gap year when they finish school. My wife and i want ours to be for his first house deposit so these might all be paid out at separate times.

    Id love to just be able to keep buying shares as we get money and have everything together so i need a way of tracking it. I hope this makes sense to everyone originally i was toying with a spreadsheet as i think id only buy every 6 months or so. But i though everyone may know of a more sophisticated way of doing this.

    If anyone has a spreadsheet already that they use and they could send that would be amazing.
     
    Brumbie likes this.
  2. Chill2205

    Chill2205 Well-Known Member

    Joined:
    23rd Jan, 2017
    Posts:
    103
    Location:
    Melbourne
    Have you looked into the Raiz Kids section on the app? Not sure if you can create different sections ie house,car,holiday...
    There is also the commsec pocket app which is similar to Raiz that might have something to suit your need
     
  3. sharon

    sharon Well-Known Member

    Joined:
    6th Jul, 2016
    Posts:
    441
    Location:
    Brisbane
    With regards to having different investments from different people and for different purposes.....
    VAS - for everything you want to invest for your child (house deposit etc).
    STW - for what the grands want to invest for your child (gap year, car etc).
    AFI - for whatever else you want your child to have (nest egg, university, etc).

    Just an idea.