<prompt> Human: So I honestly have no idea about investing, funds, markets, etc. We have no experience doing anything like that. We are 26 and 27 and only have a checking account and one teeny savings account 500.We have 3 children and I really want to start saving to help them once they graduate high school, either for college or just life. We have time since they are in 3rd grade, preschool, and not born yet. I was thinking of saving up 10k for each of them to have after they graduate. I did the math and saving about 50week divided a certain way into 3 accounts will get us to 10k for each child once they graduate. I dont want to set up 529s in case they choose not to go to college. Mainly I was thinking of 3 separate savings accounts or something. My husband brought up index funds and Ive been trying to research it and I know about the links in the sidebar but everything just seems all jumbled to me and I cant figure out if its a good choice. Is anyone able to basically dumb it down or explain the pros and cons? I want to start saving by about June that way well have the money ready right as each of the kids graduate. We do not have any real savings right now but if index funds seem like a good choice then we might try that for us as well. Any information that can be given would be really appreciated. Thank you.  <response>: you dont have a savings account, and you have 3 children. youre not capable of saving for them until you save for yourself.get 6 months savings going so you and your kids dont end up homeless if something happens to either of you.once youve done that, start putting away 10 both you and your husband of your income away for retirement, making sure to get any employer match you have available.once youve done this, make sure all high inters anything over 5 debt is gone. after this, you can start looking into saving for your children. get your house in order. its nice to want things for your kids but if youre overextending yourself to do it itll only end up blowing up in your face when you go late on a bill and have to reach into the kids savings to pay for it. 