A lot of banks offer minor bank accounts at little or no cost to the parent. My sons is directly connected to mine, and twice a month money pulls from my account into his. I also have it set up that I cannot take money out of this account without going to the bank. So it will not get used should I overdraft or anything like that. I really like it because I am terrible about transferring funds on my own. This way money goes in every month, and i dont have to remember to do it.
Quoting Jan31mom:" <blockquote><b>Quoting P3RvYmCp3rv:</b>" I honestly would put it all in savings bonds. ... [snip!] ... This might be a very ignorant question but... What is the advantage to savings bonds? Are they better then cds would be?"
idk it is just what I'm planning on using. I cashed mine out a year after it was fully avaliable and got a good 90 dollars more. It was a 100 dollars savings bond.