Although Old Navy is great place for basics like Cargo pants, really cool stuff is at GAP. Bright colored lumberjack jackets and knit caps will keep your little guy looking stylish. Another good place is Marshall's and T.J. Maxx. Usually both these stores have nice suits from designers like Polo Ralph Lauren for such a bargain that you could also pick them up a little toy to make up for forcing them to go shopping.

Dressy Outfits

When you want to spend a little more on either a good suit or party dress, head to outlets of big expensive department stores, like Neiman Marcus, Saks Fifth Avenue, and Nordstrom also have children departments. Go to main site of these stores to find outlets nearest you. You can find designers like Betsey Johnson and Ralph Lauren for kids. Nordstrom has an amazing selection of shoes for little ones as well.

Saving Grace- The Internet

The Internet has revolutionized shopping for children. Long gone are days of having to meander through stores with three-year-olds. Check out these great online stores:

Zappos.com- Great selection of shoes from designers like Bibi and Kenneth Cole. Target.com- Cheap and Cool. A great combo. Overstock.com- A wide selection and rock bottom prices. Great for coats. Babystyle.com- Keep your favorite infant stylish with clothes from this online fave.

As a parent, it is vital that you teach your child value of money. Opening a Roth IRA gives you opportunity to sit down and teach your child value of saving and investing, instead of yelling at them to clean their room. While a parental lecture on need to save money would typically meet with glassy eyes and yawns, your child’s attitude will undoubtedly change when you are talking about their money.

Work and Maturity Issues

Before you rush out to open a Roth IRA for your child, you must determine if your child is eligible to open an account. To open an account, your son or daughter must be working at least part time for an employer that reports their wages to IRS. Hiring your child to take out trash each week is not going to cut it, nor will this strategy work for your 5 year-old. Many teenagers, however, have summer jobs that should suffice for IRS consideration. To avoid any trouble, you should consult with your tax advisor.

A more sublime issue concerns maturity level of your child. Keep in mind that Roth IRA will be opened in their name. Your son or daughter will have legal right to do what they will with account. It is strongly suggested that you clearly explain consequences of taking money out of account [taxes, penalties, being cut out of will, forced to eat healthy food, grounded for life, etc.] but decision lies with them. As difficult as it is, try to be objective in evaluating how you child will react to having money sit in an account. If you have doubts, you should probably investigate other tax saving strategies.

Opening a Roth IRA for your child can be a very effective means of leveraging your estate. If your child exercises restraint, your relatively small contribution to their Roth IRA can grow into a sizeable tax-free nest egg.