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We put it in a saving account. We will use it to open a 529 eventually. We don't spend it on anything it will all go to college savings. If we get cash a pocket the money and transfer that amount from our checking into her savings

The money we have been given is minimal, maybe $50 a year so we just use it for lo expenses too. Sometimes I write that we set it aside for X or for a rainy day or if it is a smaller thing I will say something like we have had our eye on a new set of paints or whatever and use it to buy that. I think people know babies are expensive and if they wanted the money used a certain way they would specify so don't feel guilty using it on general expenses. (For example, her grandparents opened a 529 rather than gifting cash.)

We put it all in a savings account, that we've now turned into an Roth IRA. 529 plans are also great, but we decided a Roth for each child would give them more flexibility. In thank you cards, people don't have to know that you spent it on a big ticket item if you don't want. I've done both type of cards, one where I'll say we are saving it for their future and another type where we put it towards _____(swim class, a cozy new car seat, etc). When people give money for gifts, if they want it to be used in a specific way, maybe they'll mention it. Otherwise, I think they have to trust that as the parent, you're using your LO's money how you deem appropriate.

We put it in his college fund but if I gifted money to your LO, I would be happy to know it went toward something like a car seat that he needs right now.

My in-laws usually specify that certain money is for his college fund, so in that case, I would make sure that's what we do with it.

We already have a college education account for LO (an RESP in Canada, similar to a 529 in the US) that is maxed out monthly/annually for government contributions, so we just use the cash for purchases for him. Sometimes it's fun stuff, other times it's been for clothes or wipes. Before we had all the big stuff we would put a few people's gifts towards the large one. If people give you money, it's because they feel you are better able to judge what your LO needs. I don't feel guilty making the decision on what to buy at all.

We put all gift $$ into her own savings account. I also transfer $5 a week from our checking account into her account. We will likely set up a savings plan, but haven't talked about it yet.

My grandparents usually send $100 for Christmas, so when we chat on the phone, we ask them if they had something in mind, or we tell them about something we're looking into (this year, it was a membership to a local museum - they were thrilled!). If it's a smaller amount, we always call to say thank you, and I just say thank you for thinking of her.

He's only been gifted money twice. The first was cash and I used it to reimburse someone for an event ticket they bought on my behalf. LO attended the event with me, so I didn't feel too bad. The second time was a gift card and I used it toward a Christmas gift.

We don't have a savings account set up for him. Maybe when he's a bit older and we start teaching him about money we will. For now though, with him being so young, I think most people will gift him physical presents and not money.

I pocket the cash and write a check to deposit into her savings account unless the giver specifically requested it be spent on a toy, special snacks, etc.