As parents, we do all kinds of things to ensure a good future for our kids.  One of the best ways we can help our kids long into the future is by creating an investment plan or savings accounts as soon as they are born.  For many of us, that extra money can be difficult to come by, but you would be surprised at how far a simple $25 per month can go in 18 years.

Basic Savings
You can open a basic savings account for your child at any regular bank or credit union.  Some banks, such as ING, will even allow you to open one online instantly.  The downside to these accounts is that they do not usually offer very substantial interest rates.  They are completely liquid, however, which means you can access the money anytime you need it.

Certificates of Deposit
A CD is a great option for investing money for your children.  Ideally, you won’t be touching the money anyway because it is for far into the future, so locking in a higher rate by agreeing to leave the money alone for a set time is a great way to see a higher return.  You can open a CD with as short a term as one year, but you will see higher rates by choosing longer terms.

You can also create trust funds, investment accounts, and other savings plans, but a savings account or CD is the simplest way to get started on securing a financial future for your child.  You can contribute monthly or use windfalls like your tax return to add a little every year to your child’s fund.