A piggy bank is a fine start — but it only holds the money your child puts in. A 530A account, the new free investment account for children sometimes called a Trump Account, can help that money grow.

Here's how it works: every U.S. child under 18 with a Social Security number can have a free 530A account. There is no deposit required, and the account is free to claim through the official app or at TrumpAccounts.gov. Family and friends can contribute, and the money is accessible when the child turns 18.

To get the program started, the Michael and Susan Dell Foundation put $250 into the 530A accounts of 25 million children in lower-income ZIP codes.

An account is only half the lesson. Let your children see how you make spending choices, give them a little of their own to manage, and explain the difference between saving and investing. Saving sets money aside for something soon; investing aims to grow it over time. And talk about what they dream of — a goal makes the habit stick.

Start small, start early, and check the official site for the latest details. A little money set aside now, plus a child who understands why, can go a long way. (Sources: Invest America; Michael and Susan Dell Foundation)