it's all about the benjamins

Yesterday was money management day.  I made the trip to Wachovia to upgrade our personal accounts and to open a minor savings account for Banks.  It's never too early to start saving for college!  The minor savings account is free, with no threshold or minimum balance requirement.  I am the fiduciary of the funds, but Banks is the beneficiary.  I started it with $300 ($100 for each month of age) and our plan is to deposit $100/month for now.  In addition, we'll add any gift money that Miss B receives.  I'm sure that we will increase our monthly contribution over time, because at this rate, Banks will only have $21,600 (before interest and gift contributions) when she turns 18.  Definitely not enough for 4 years of college, but a good start!