<prompt> Human: Hey guys,I have a 2 year old daughter. Every month since she has been born I put away 100 dollars in my sock drawer for her. Im thinking there has to possibly be better options out there for me. Whats are some decent interest earning ways where I can put money away for her that will make even a small amount more over until she is 18? Thanks. Assistant: Anything is better than the sock drawer.You could put the money in an online savings account, or buy long-term CDs if you are not investment-savvy.Human: Yeah.. Id have to plead ignorance to being investment-savvy. Online savings account huh? I suppose thats easy enough.  <response>: To be clear, the reason that people suggest an online bank is because many online banks offer excellent interest rates for savings accounts. Ally Bank is the favorite around here and offers a 1 interest rate on their savings account.Depending on how long you intend to save this money and its purpose college? initial adulting money? something else?, an investment account may be the better option. For example, if the money is for college, then you may want to look into a 529 education savings account. Vanguard has options for these here If the money is for something else at least 15-20 years down the road, maybe look into a custodial brokerage account also known as a Uniform GiftsTransfers to Minors Account a.k.a. UGMA or UTMA accounts. Vanguard has options for these hereSo basically, how you should save for her depends on what the money is going to be used for and how far away the need to use the money is. This should give you something to think about! 