The state of Virginia created an option for a college savings plan that begins at your baby shower [via Forbes. A Virginia 529 can be set up by a friend or family member, who must be able to provide the baby's name and birthdate.
For example:
You'll never guess what Morris is taking this weekend as a gift to a friend who just had a baby boy. A gift certificate showing that she made a $50 contribution to his Virginia inVest 529 plan. Her friend sent her a text message last week saying she set up the account. All you need to make a contribution is the child's name and date of birth.
Morris, you are the most considerate baby-shower goer. Seriously! It turns out that 55 percent of millennial parents are "starting to save by opening up 529 accounts between child's birth and five year birthday," and that that pays off savings-wise.
Most of these types of college savings account have about $3,000 in them, and under Virginia rules, you can donate as little as $25 dollars to a this kind of 529 fund, which is actually an amazing gift.
Nothing says "I love you" in this day and age like "Here is money for college because college is expensive as shit."
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Tess Koman covers breaking (food) news, opinion pieces, and features on larger happenings in the food world. She oversees editorial content on Delish. Her work has appeared on Cosmopolitan.com, Elle.com, and Esquire.com.
