I was wondering what everyone is doing to save for their little one? Are you opening a savings account or college savings? We have started a savings account for E. So far we only have a few hundred in it but we are going to look into some options once we have more saved.
Re: Saving for LO?
We opened up a traditional savings account at our bank for LO. We get a small amount autodrafted each month from our account. Like you, we are only up to a few hundred dollars, but figure we can decide what to do next once we accrue a little more.
My Ovulation Chart
We started a savings account for him with every cash gift he's ever received.
We also have a upromise account to start saving for college.
BFP #2 on 4/12/11, J born on 12/14/11
We have an investment account and have the money in several mutual funds.
Eta: this account is not necessarily all for LO though. We have money in a savings account for emergencies. The investment account is money we've been saving since we got married and also inheritance money. It will be used for college for our kids and also be part of our retirement in addition to our 401ks and pensions.
we just put gift money into his savings account, which i need to start a 529 for him.
like someone else mentioned though, saving for our retirement comes first. when we max that out, we will then start putting contributions in for DS' schooling. until then, it will just be gift money.