<prompt> Human: Hello, I have two nieces one on the way and while I cant afford to set them up with a really nice monetary gift, I would like to leave them something, perhaps to pay for their books at college or the like. That being said I would like to set up some sort of fund for the both of them that does not require large and regular contributions. Do these exist? I can make an initial investment of 50 -100 in both cases, however I prefer it to be much closer to the 50. From that point forward I can invest something like 10 a month per fundchild. Do these types of higher yield funds exist or am I better just starting savings accounts for them? Would really appreciate your help rpersonalfinance. Thank you in advance.  <response>: You can look into opening a 529 plan for them. They do carry minimum initial contributions but if you are under it, just save up in a savings account until you reach that amount. 