Not exactly. We have a bank account for DS that we put little bits of money into whenever we can, he'll get it at 18 to put towards Uni or a car or whatever. I'm not too concerned because here we have HECS so its not like he's not going to be able to go to university.
No. We're broke. However, we have a life insurance policy that can be converted when the kids turn 18 and used for college if we haven't enough saved before then, so we're planning ahead until we can have some money to save, just in a different way.
We don't do monthly. We put in $2000 every tax return. So per year. We start the year we get to claim Them on taxes. So for dd she was Born in oct so we claimed her for that year on taxes and put in the money the following April. For this one she's gonna be born in jan so we won't claim Her for this tax season. So hers will start the next year. They'll both end up with the same Amt for college though cause of when their bdays fall and when they can start school. So it'll ecerytime out although we started this Babys later.
I don't contribute monthly, just throw in a chunk of change when I have it and any money he receives as a gift. In my family it's tradition that we pay for our own college--and everyone has at least a baccalaureate degree--so honestly IDK if I will even use it or not, but I want to have some set aside just in case.
I started one for my daughter. I add 100 a month and all of her Christmas and birthday money she gets. Once she is old enough to know that she's getting birthday/Christmas money I will give her half and put the other half in her account.
Sort of! Our son is about to be 1, and we just have a change jar full of about $200 for him. Once I graduate and start working in May we are going to open up an actual account. I just want them to have a nice hunk saved up for when they graduate high school.