How do I save money for my child’s education?

So I always get asked by clients, how do I save for kids education? How do I save for anything to do with my child, whether it be a deposit for their first house or their education or their first car. Unfortunately, a lot of clients have been suckered into a thing called asg. Now ASG is a, they pull the heartstring of the fear of how are you going to pay for your kids education? How are you going to send them to school? And unfortunately we, with that use of fee as a sales technique, they get you to put an X amount into an account which they control in their name each and every month for the next say five or ten years. And so let's say Johnny, we're paying $200 per month into ASG for his basic education, whether it be university or high school. And so the problem with ASG is the Money sits in ASG's account and works for ASG. They invest it, they earn interest off it, they get the benefits from it. And at the end of that period of time, call five years, they just give you back what you originally invested. So you've been investing into a fund every single month for the last five years and you just get back what you invested. So there's so many different ways to actually improve that for you and your child. The first bit of advice I'd be looking at is I'd be setting up Acorns, a C O R N S as an app on your phone and I'll be putting the $200 into the acorns account with which you can see and you can touch. Acorns is invested into the top 200 stocks in Australia, the top 500 stocks in the US and because it's an automatic investment of 200 per month, for example, or 50 per month, whatever, you're putting aside your dollar cost averaging into the market. So when the market's moving up, you're buying less of the ASX 200, you're buying less of the top 500 stocks in America. But when the market's going down, that $200 is buying more stock in the ASX 200 or the top 500 companies in America there. So we want to be investing that money for the kids. So it's growing and you're getting that growth. Acorns will give you that and it's got that flexibility in front of you to be able to access it early if you need to ASG lock that money down and it's frozen. So rather than putting money into asg, put it into Acorns the other idea is, rather than sitting into a bank account, I've got clients who've got Johnny's savings for his education or university or car sitting just in a normal savings account where it's earning maybe 1 or 2%, inflation's 3%, like you're not even keeping up with inflation there. So one idea is to actually, let's say if you're with Westpac or CBA or ANZ or nab, rather than actually just having the money sitting in the savings account, why don't you just buy the bank shares rather than sitting the money in the bank? So rather than having that 2 grand or 4 grand or 5 grand building up into a Westpac account, why don't you just put the money into buying the bank? Buy the shares of Westpac or buy the shares of CBA or buy the shares of Anz. Now that's very general advice, but we all know the banks know how to make money. They're making $2.7 million per hour, 45 grand per minute. Wouldn't you want to invest in a business that's doing those sort of profits? And no matter what the market's doing, they seem to be still making billion dollar profits year on, year out. So first advice there, put money into acorns rather than going into asg, or put money directly into buying the bank. Don't leave money sitting in a bank account, buy the actual bank there. There are two things that you could do to set your child up for a very, very successful financial future.