I was thinking of this as teaching kids to save,make decisons, and plans together to buy something together. They can each have their own individual savings as well if they want, so I wasn't thinking about defining individual ownership within the account.
When you say "shares,' nanamom, do you mean portion of ownership of what they buy? Do you mean portion of ownership of the actual savings?
I also don't think a formal bank account need to be opened to do this. A box in the house may work. A place in a parent's safe keeping may work.
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