<prompt> Human: Ive seen this question asked on here a few times, but the answer usually revolves around the parents getting their financial life in order so that they wont have to depend on the child for assistance later in life. What about money that is given to the child? We have had family members send cards with money in them totaling around 250. What is the best way to make this money work for the kid? I realize that this isnt a substantial amount of money so I would prefer the option to be there for money to be added to it as time passes. Any input is appreciated.  <response>: If youre in the US, it could be put in a 529 for educational expenses. New contributions can be made to this 529, too. If the money is not used for educational expenses but for something else, then a fee will need to be paid. 