25 Comments

  • Berlin | Momi Berlin

    Such a responsible boy already. But I have to commend his parents for guiding him on what to do with his earnings and savings. Kids, I believe, wouldn’t have that much initiative to save when not prompted or guided properly by parents. Next is the mutual fund now. 🙂

    • May De Jesus-Palacpac

      Thank you for your kind words, Berlin. 🙂 Yes, kailangan talaga natin silang iguide pa at their age. 🙂

  • M

    Good way to teach your son to save money! Glad to know that there are easy ways for kids to apply for a bank account. We will do this too for our daughter too.

  • Nilyn Matugas

    We are planning on doing this for Nate too. I just checked the site and I think we can already enroll him for this. He has little savings and if the minimum amount is just 2k, pwedeng pwede na sya. I’ll check on it further. Kasi my husband and I are both bpi users naman.

    • May De Jesus-Palacpac

      The minimum is actually just 100, even for other banks. But for it to start accumulating interest, the minimum would be 2K. 🙂

  • Michi

    What nice about BDO is, your kids can have their own savings account kahit baby pa. I started my son’s savings account when he was less than two months old, (joint account pa). P500 pa that time, now P100 na lang. But when he turned 7 yrs old, pinag-open ko ulit para under his name na niya and hindi na joint. Yung ATM nila, nag-ask ako nung time na nag-open kami, P2000 agad ang minimum deposit not the usual P100 if gusto may ATM. Pero nothing unique naman sa ATM, halos same lang sa regular ATM nila, may perks lang yata na di ko pa natry. I did not know about the check, thanks for the info.

    • May De Jesus-Palacpac

      We’re actually considering on opening another account for him with Metrobank for his check deposits. Hassle pa kasi to have it encashed in another bank then deposit it in BDO.

  • Roch

    When we were kids, my mom also enrolled us to BDO Junior Savings account. Now, we’re thankful because we were introduced to the concept of saving early in life.

  • Nerisa

    DOLE has a rule like that pala. It’s good. Siguro they really want to protect the employee’s (in this case, child’s) interest. PS: I don’t think the Saver’s ID has any use. haha

  • Michelle

    This is a good practice, Mommy May! Kudos to you and Jay for teaching your son, Pablo, how to handle and save money. It is important that we educate our kids to be money-wise para mas marunong sila sa buhay when they become adults. 🙂 and nakakatuwa naman na nagwowork pala sya. He knows na the value of hard-earned money from working.

  • Janice

    My girls used to have a BDO Junior Savers account. But since they’re now over 12 years old it had to be converted to a regular savings account already. I’m hoping to give our boys something similar from another bank though, one that will help with the tuition fees when they’re older.

  • Mia Foo

    i can’t emphasize enough on the importance of saving up! it’s good to see your boy taking responsibility for his own money starting from a young age!

  • Ayi

    Good to know that there is a mandate involving working children and their earnings 🙂 I haven’t opened an account for my kids although we allocated a savings account for them, na minsan nagagalaw namin. This reminds me tuloy to open an account specifically for them.

  • Neri Ann

    I used to be on a theatre too when I was in college and I got my very first income when we had our biggest production. And back then I really don’t know how to save. And nowadays ang hirap ng magrason na hindi ka nakakaipon because there are a lot of articles like these where you can learn from. Goodjob kay kuya! hoping we can have uitf’s on my kids junior savers account soon!

  • WanderWoMom

    very good naman for putting your salary sa bank. na guilty naman ako kasi yung kay coco nagastos ko oops. pero inuunti onti ko syang ibalik naman! and yes.. pinasok ko sa account nya. napagawan ko sya late alst year yata eh. pero ibang bank. thanks for reminding me hahahah!! my gosh!

    • May De Jesus-Palacpac

      well, hindi na rin naman talaga natin pwede gamitin if you’re using your child’s DOLE permit, kasi sa susunod na project, they will request for the bank statement of the child to see if we’re complying. That’s how it was for us.

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