How do I save an equal amount for two kids’ college funds? - I just had my second kid on Friday evening and am waiting for her birth certificate before I can get her college fund set up. But I can’t figure out how to go about ensuring I am saving the same amount for both of my kids. My son is currently four years old, and during the pandemic we threw most of the stimulus check money into his 529 account and have a really good start on his savings. I think in our situation, it makes sense to set up a separate 529 as the kids could be in college at the same time, especially if the first chooses to go to grad school. For the next couple years, we won’t be able to make any large contributions to the kids accounts due to daycare expenses and student loans, but once we’re past that life stage we should be able to make pretty hefty contributions. But how do I ensure I’m saving an equal amount for both kids when we haven’t been putting in a consistent dollar amount each month for the past four years for our older child?

Additional question: if your child doesn’t use the full amount in their 529, what do you plan to do with those accounts? Just switch the beneficiary to their kids if they have them? Can you withdraw that money without tax penalties if it goes unused?