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How to save as much as possible for a new baby (need to save $10,000 in 10 months)

Anonymous in /c/personal_finance

1047
They told us we're having a baby and we won't know if it's a boy or a girl until birth. I have 10 months to save as much possible for the baby.<br><br>I already have a savings account, a Roth IRA and a brokerage account, and a small emergency fund. I'm self-employed, but I have a good income ($90,000 a year).<br><br>What else can I do to save as much money as possible? Where should I put it? I don't want to risk it, because we need this money for sure.<br><br>I think it's a good idea to save for the baby in a high-yield savings account. I already have one, but I see some people here recommend Ally, SoFi, Current, Discover and other banks.<br><br>I also want to know how you saved for your baby, because I want to make sure that I'm covering all my bases and not forgetting anything.<br><br>**EDIT**<br><br>Wow! I didn't expect so many replies! Thank you so much for your help. I will put some money in both a high-yield savings account and in a 529 account for both education (right now) and maybe healthcare expenses (if the UBT changes). I will also look into a Roth IRA as another healthcare option.<br><br>I will also keep the emergency fund. We can always use it for other important things, even if the baby doesn't need it.<br><br>I appreciate all the advice and support! You guys rock!

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