Tuesday, December 12, 2006

Day 295 - Stock Up on Savings

Today's first time parenting tip - Stock up on savings bonds

If family members or friends are looking for "the perfect gift" for your baby, turn them on to the idea of savings bonds for babies.

While not as fun as a giant plastic playhouse, a savings bond is a gift that your child will appreciate far more than a plastic toy they won't remember playing with. It sits in a safe place for 18 years, quietly doubling or tripling in value.

Then, when your child is ready for college or for his first big expense as an adult, those savings bonds will come in very handy to soften the financial blow.

And since you've got time on your side, getting a bond that will be worth around $1000 bucks after 18 years is a bargain at around $300-350 (assuming a 5-6% return).

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