Child savings refer to financial accounts or programs designed to help children save money for future needs, such as education or emergencies. These accounts often come with lower fees and may offer higher interest rates to encourage saving from a young age. Parents or guardians can open these accounts, teaching children the importance of saving and financial responsibility. Many banks and credit unions offer specific child savings accounts that allow for small deposits, making it easy for families to contribute regularly. Some programs, like 529 plans, are specifically designed for educational savings, providing tax advantages to help families save for college expenses.