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I am currently putting away 100 dollars a month for my son college fund. He is only 8 and I just started putting money away as I have been able to financially. It is not going into a college specific savings account just a regular savings account through wellsfargo. So far he has about 1000 in his account and by the time he is 18 there should be about at least 12,000 for college. I had thought about investing it but I really don't want him to lose any money as this is all I can afford. My other concern is his mom taking his money and spending it as she has done that in the past. Currently all money he acccumulates from allowances, birthdays, etc goes to me and I deposit it into his account. Otherwise his mom borrows it and he never gets any of it back. His mom won't help at all for college and says it's my responsibility so I am doing the best I can for him. Should I place the money in a specific college savings account or leave it as is? What is everyone else doing with paying for your childs college?
