<prompt> Human: I recently gave birth to twins and have received a little bit of cash from relatives. Given all of the gifts and gift cards that I have received, I would like to set aside the bit of cash contributions for the babies themselves. I understand that the 529 college plans have pretty significant tax advantages when used on qualifying expenses but am wondering if anyone has any better recommendations. Its only a few hundred dollars to start with but I am sure that they will receive more money in the years to come. Thanks!  <response>: The 529 is a really easy way to put that money aside and allow the family to feel like its going somewhere useful. Theyll think youre responsible and give you more.At a certain point you can debate the benefits of the tax breaks vs the risk of not using the money for school, but if its just a few hundred a year Im sure youll be able to use it. 