There are some considerations to take when setting up a savings account for your little one. Once it is in place though, you will be relieved. Nothing prepares you for the amount of paperwork and documents you are going to pull up if you do not live in an electronic society. But at the end of the day, just imagine the possibilities of how much that savings account could earn for your child over their first 18-21 years! Even if you are starting late, there is no better time like now and you can always catch up on payments to get you up to what your goal is.