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what would you give?

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1. Posted by marlis (Travel Guru 1167 posts) 9y

since a few years I know this young family in Ecuador,they are making beautyful artesania for me,and we became good friends.
Last year when Margoth was pregnant again,(the have a lovely boy)they where asking me if I would be the Godmother of the child and when it will be a girl they would like to give it my name.
so now there is a little Marlis in San Antonio/Ecuador.this month we will finely baptise her,and now here is my question what to give.
Tradition is that the godmother takes care of the complet dress for the little one,maybe some golden earrings or bracelet.
My idea is to do something extra beside of the traditional like for the future of little Marlis and open a saving acount
for her where I can deposit a monthly amount that when she will be 15 years old will have some money for her education.
what do you think?
Is this a good idea,or should I do something different?

Marlis,the very happy and proud godmother of Marlisita

[ Edit: Edited on Sep 30, 2007, at 6:31 PM by marlis ]

2. Posted by Jase007 (Travel Guru 8870 posts) 9y

Sounds a wonderful & generous idea.

3. Posted by mikeyBoab (Travel Guru 5077 posts) 9y

Sounds like a great idea, what better gift is there than an education?

4. Posted by Isadora (Travel Guru 13926 posts) 9y

I agree with Jase and Mikey, Marlis. Starting an education fund is a wonderful idea and something both of you can watch grow over the years. I would imagine your friends (her parents) would also find it a great gift.

5. Posted by Mel. (Travel Guru 4567 posts) 9y

Hello Marlis:)

Yeah, the education fund sounds good.
My parents in law opened one for my daughter.
Kids get so many presents from people, that are only temporarily useful.
Often they get more of a particular item, than they can use.
An education fund is lasting, and people cant ever give a kid too many education funds.

Mel

[ Edit: Edited on Oct 1, 2007, at 12:21 PM by Mel. ]

6. Posted by marlis (Travel Guru 1167 posts) 9y

thanks to all of you,
will open the account in the next days at my local bank.To do it in Ecuador would mean that I would have to make transfers,by doing so losing money.
@Mel,
you are right about gifts,to many or not realy usefull.
Of course I will bring some gifts for the kids when I go to visit,but I try to bring something better then Barbie or Superman.
Marlis

7. Posted by Q' (Travel Guru 1987 posts) 9y

right on fantastic.

8. Posted by angela_ (Respected Member 1732 posts) 9y

That's a great idea. My grandmother opened an account for me when I was christened and all my birthday and Chistmas present money went into that account. Last year that money helped me buy my first flat/apartment.

9. Posted by james (Travel Guru 4136 posts) 9y

Fantastic idea, the only things that would make me hesitate are:

1. Will you be depositing a monthly amount for 15 years? If so, this is a considerable length of time, and circumstances and situations can change a lot over 15 years. Perhaps a one-off large deposit would be better?

2. There are a lot of logistics in opening bank accounts for other people, particularly when they are not part of your family. What name would it be in? Who would have access to it? Who would be the signatories?

3. What about exchange rates and fees? Does it cost much to deposit the money in the way of fees for foreign transfers? What about exchange rate issues? Would it be better to get an account in US dollars?

10. Posted by marlis (Travel Guru 1167 posts) 9y

Hi James,
yes there are a few things I have to clear at the bank.I'm not sure if I can have a $ account as a resident here on Bonaire.Here we have still the Netherl.Antillen Gulden,always the same change rate to the US $.

I would like to make the account in the name of the girl.
you are also right with the monthly payment,when you say that 15 years is a lot,but on the other side I must tell you that I'm not a rich person that I could make one big payment right now.I will give as much as I can and when the girl will get $15 000 or more it should help her a lot in Ecuador.If it is less it will still be better then nothing. There is also the possibility to inherit for her since I have no children.
But I hope that I will be further on in good health that I can run my business many years more and take care to the benefit of Marlisita.

Marlis:)