Gas Down Slightly? Redirect the Savings to Your Grandkids
What’s happening
Gas prices dipped heading into fall. AAA reported the national average fell five cents in the week ending Sept 25 to $3.15, helped by lower seasonal demand and the cheaper winter fuel blend.
As of early October, AAA’s live dashboard still shows the national average hovering just above $3.11—lower than a month ago. The U.S. Energy Information Administration also reports late-September prices in the low $3s.
Why it matters for your family
When the tank costs a bit less, that’s real money back in your pocket. Rather than letting it get absorbed by everyday spending, make it meaningful. Redirect a small, steady amount each month into your grandchild’s account—you’ll barely notice it, but it can add up over the years.
What you can do today (10 minutes)
- Open a UNest UTMA—a custodial account for your grandchild.
- Set a $25 monthly auto-gift. Tie it to your pension, Social Security deposit, or another date that’s easy to remember.
- Share your UNest gift link with a family member and invite them to “match the gas savings.”
Small, predictable contributions can make a big difference over time—especially when started early and set to run automatically.
Open a UNest UTMA and start contributing monthly today.
UTMA vs. 529 (simple)
- UTMA: A custodial account for a minor. Funds must benefit the child and can cover more than college—like laptops, braces, or sports fees. Gifts are irrevocable, and assets generally transfer at your state’s age of majority.
- 529: Education-focused with potential tax advantages for qualified education expenses. Rules vary by state.
If budgets are tight
Start small but steady. Even $25 per month keeps the habit alive. You can pause or adjust anytime - what matters is consistency, not perfection.
FAQs
- What if gas prices rise again? You can lower or pause your transfer anytime. The goal is maintaining a realistic, ongoing habit.
- Is a UTMA “safe”? A UTMA is an investment account, not a savings account; investments can lose value.
- Can family contribute? Yes—share your UNest gift link so relatives can easily add funds.
Don't just take our word for it
Hear what trusted money experts say about why UTMA and UGMA accounts can be a smart way to invest for a child’s future.
There are some tax advantages to using UGMA and UTMA accounts… Since they’re in your child’s name, the accounts will be taxed according to their tax bracket… There are no contribution limits on UGMA and UTMA accounts.
Dave Ramsey
Personal Finance Expert
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Investing for your kid’s future
Dave Ramsey
Personal Finance Expert
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...you could consider opening an account where you can dive deeper with the kids by your side. The easiest way to do so is to open a custodial account, known as an UGMA ... or UTMA ... account.
Jill Schlesinger
Emmy winning Business Analyst
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Straightforward “starter” investing account for kids
JILL SCHLESINGER
Emmy winning Business Analyst
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You can give children money that can accumulate somewhat tax-free over time... I love them (UTMAs) because they were like, trusts that you didn't need lawyers to create.... I think it's one of the better tax breaks around though. I know hunting for tax breaks may not sound very exciting, but that's how you take care of your family.
Jim Cramer
CNBC Host
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Give children money that can accumulate over time
Jim Cramer
CNBC Host
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