https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Wed, 08 Apr 2026 21:15:34 +0000 https://boards.hellobee.com/topic/gifts-for-baby#post-2671500 Thu, 29 Dec 2016 16:11:43 +0000 SweetCaroline 2671500@https://boards.hellobee.com/ <p>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. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671484 Thu, 29 Dec 2016 15:22:44 +0000 nana87 2671484@https://boards.hellobee.com/ <p>We started a savings account for lo that's linked to our bank account, so we deposit it in there (as well as a small amount per month that we save for her). My parents started a separate college savings account for her, and I think my in-laws did too, so this will be more for her personal spending some day, or if she needs more than in her school funds. Both dh and I were able to go to college on savings accounts that our grandparents had started for us, so it's sort of tradition that our parents do the same for our los, and we'all do the same for our grandkids someday </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671483 Thu, 29 Dec 2016 15:21:22 +0000 Mrs. Lemon-Lime 2671483@https://boards.hellobee.com/ <p>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.</p> <p>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. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671443 Thu, 29 Dec 2016 13:46:31 +0000 snowjewelz 2671443@https://boards.hellobee.com/ <p>We put money into our savings and just track it and use it on big ticket items. We won't be doing a 529 so eventually they will get their own savings account. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671441 Thu, 29 Dec 2016 13:44:03 +0000 littlejoy 2671441@https://boards.hellobee.com/ <p>We put all gift $$ into her own savings account. I also transfer $5 a week from our checking account into her account. We will likely set up a savings plan, but haven't talked about it yet. </p> <p>My grandparents usually send $100 for Christmas, so when we chat on the phone, we ask them if they had something in mind, or we tell them about something we're looking into (this year, it was a membership to a local museum - they were thrilled!). If it's a smaller amount, we always call to say thank you, and I just say thank you for thinking of her. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671401 Thu, 29 Dec 2016 12:35:40 +0000 JenGirl 2671401@https://boards.hellobee.com/ <p>We have a 529 set up that most of it goes into, but depending on who it's from, we may use it to buy stuff as well, either small or big. I think, as long as it's spent on baby it's fine, unless the giver requests something specific be done with it (like my grandmother specifically wants his gifts from her to go into his 529). </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671399 Thu, 29 Dec 2016 12:34:39 +0000 Astro Bee 2671399@https://boards.hellobee.com/ <p>We already have a college education account for LO (an RESP in Canada, similar to a 529 in the US) that is maxed out monthly/annually for government contributions, so we just use the cash for purchases for him. Sometimes it's fun stuff, other times it's been for clothes or wipes. Before we had all the big stuff we would put a few people's gifts towards the large one. If people give you money, it's because they feel you are better able to judge what your LO needs. I don't feel guilty making the decision on what to buy at all. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671396 Thu, 29 Dec 2016 12:32:45 +0000 caterw 2671396@https://boards.hellobee.com/ <p>We are in a similar financial position- we are doing well but big ticket items require us to save for a bit to afford them as I prefer not to take $$ from our savings. We tend to use cash given to our daughters for things they need or their classes. Our family has a general idea of our financial position and they are fine with this. We do plan to start savings accounts for the kids but we aren't quite there yet. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671395 Thu, 29 Dec 2016 12:31:09 +0000 MOMTOLITTLEB 2671395@https://boards.hellobee.com/ <p>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. </p> <p>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. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671366 Thu, 29 Dec 2016 12:00:03 +0000 catgirl 2671366@https://boards.hellobee.com/ <p>So far most of the checks we have recieved for DD have said in the subject line what the giver wants - "for college savings," "for future," or "for something fun." We do our best to respect what the gift giver wants. If there is no mention of what to do with it or it is cash we typically split it - half in her savings and half towards something we need/want for her. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671363 Thu, 29 Dec 2016 11:58:40 +0000 Boogs 2671363@https://boards.hellobee.com/ <p>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. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671362 Thu, 29 Dec 2016 11:57:36 +0000 Pollywog 2671362@https://boards.hellobee.com/ <p>Everything goes into his 529. Even the $20 fun money from grandma. I take the cash and deposit money into his account. We do this because I had no money saved for college and I feel strongly that LO has savings. We also are in a good financial position and my inlaws gift large checks that are designed to go towards education expenses. </p> <p>FWIW, setting up a 529 takes 10 minutes. An approach is to just go with your state's 529 and you can always open a different one later if you find a better deal. Even if you start with $50, it builds over time. That was our philosophy at least. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671336 Thu, 29 Dec 2016 11:34:57 +0000 Cole 2671336@https://boards.hellobee.com/ <p>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.) </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671327 Thu, 29 Dec 2016 11:23:55 +0000 pmerr 2671327@https://boards.hellobee.com/ <p>I opened a bank account (savings) at our bank with LO's name. For the first couple years I put all money in there, unless there was something we really needed for him. Now I'm saving some of it at each holiday this year for a Disney ticket when we go and putting the rest away, unless he wants a special toy. In the first few years, he has a few hundred dollars in his account. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671326 Thu, 29 Dec 2016 11:21:54 +0000 youboots 2671326@https://boards.hellobee.com/ <p>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 </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671324 Thu, 29 Dec 2016 11:20:16 +0000 mediagirl 2671324@https://boards.hellobee.com/ <p>We started a college fund for her and all checks that we get for her go into that. If she gets cash, it gets put in her piggy bank to be dealt with later. </p> https://boards.hellobee.com/topic/gifts-for-baby#post-2671320 Thu, 29 Dec 2016 11:14:35 +0000 DesertDreams88 2671320@https://boards.hellobee.com/ <p>What do you do with money that friends or family give to you as a gift for baby? For example, money to celebrate their birth, first Christmas, or first birthday?</p> <p>I feel kind of guilty but we put it in a savings account that we then use for bigger purchases: convertible car seats, stroller, bike trailer, etc. We have a limited budget so paying for items over $50 requires a couple months of saving. </p> <p>I keep meaning to open him his own designated savings account or a 529 account but I just haven't gotten to the bank or done the research. </p> <p>I also then struggle with what to write in the thank you card... I wonder if it's ok to say that we used the money to buy a big ticket item for him, or if people expect us to put it in a savings account for him when he is older.</p> <p>When I was a baby, family gifted my parents savings bonds, and I cashed them in when I graduated to college to help pay for my moving out expenses. </p>