Another tip I have for mommies preparing for your new baby is to set up your college accounts early! The photo above is most (not all) of the clothing my little girl has grown out of in the last 20 months. The vast majority of these items were purchased as gifts from our baby shower.
There is a easily hundreds of dollars worth of items- many of which she never even wore. We had so many generous friends and family members and in addition to telling people about our registries and such, we also told them about the college account we set up. This is an especially good idea if you are having a baby close to the holidays where another round of gifts is likely to arrive. Most people will want to purchase “fun stuff” like clothing and toys, but it is always nice to also give them an opportunity to really contribute to your child’s future.
We are still debating a 529 plan so we have an ING account set up for our little lady and will set a second account up for #2. I have posted about ING in the past, but basically it is an online bank that offers a higher interest rate than most brick and mortar banks. It is FDIC insured and a very simple, safe way to keep your money. This time last year we had 4.5% interest on our savings and unfortunately it has gone down to 1.5%. That is still one of the highest rates I have seen around.
If you are interested in opening an ING account email me for a referral number that will give you an extra $25 sign up bonus.
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