Saving for Child’s Future

My husband and I opened up a bank account for our toddler and placed $5,000 in it that they have already made from birthdays and holidays. We are going to also place in an extra $300 a month so that when they graduate and go to college, they will have a nest egg to build on like we did. We are upper class and we both have our own separate savings empires that we are building on monthly. So we can easily afford to do this for our child.

Are any of you saving for your child’s futures?