Several financial services firms sell mutual funds specifically targeted to young investors. Usually these are funds that invest in products and services you might use, be familiar with and understand. Some also have an educational program tied into the mutual fund, sending newsletters or other educational material to shareholders.

These funds also usually set their minimum investment lower than other funds in the firm’s stable, and they have automatic investment plans that allow small -- like $20 or $25 a month-- investments into the fund where money is automatically transferred from your checking or savings account to the mutual fund every month.

American Express IDS New Dimensions (ticker symbol INNDX) (800-437-4332; www.americanexpress.com ) Minimum investment: $500 or $50 a month. Objective: Large cap growth. 5 percent load

This fund has the advantage of having a longer performance record than some of the other kid funds; American Express IDS started New Dimensions fund back in 1967, not when they instituted their Kids, Parents, and Money program in 1997. Educational material provided to families includes a parent’s guide to teaching kids about money and a booklet designed for elementary-age kids, "Kate and Kenny’s Marvelous Money Adventure." The fund’s minimum is lower if you invest through the program (initial investment $500; waived if you agree to at least a $50 automatic monthly investment. Note the 5 percent load.

Invesco (800-525-808) , www.invesco.com. Minimum investment: $250 or $25 a month. Investment Objective: Program includes four funds of varying objectives. These funds are no-load funds.

Invesco’s "Driving into Your Financial Future" program makes four funds more youth-friendly by lowering the minimum investment required to $250, or $25 a month. The four funds: Blue Chip Growth (ticker symbol FLRFX), a moderately aggressive stock fund, Invesco Endeavor (ticker symbol IVENX), which the firm describes as "very aggressive" stock fund, Equity Income (ticker symbol FIIIX), which has a portfolio which is 75 percent stocks and 25 percent bonds, and Select Income (ticker symbol FBDSX), which is a corporate bond fund. Invesco conducts seminars on investing for kids in its hometown of Denver, but doesn’t currently send out other educational material to its young shareholders.

Monetta (800-666-3882; www.monetta.com) Minimum Investment: $250 or $25 per quarter. Monetta Express shareholders can choose any of seven Monetta funds to invest in, with varying investment objectives. This is a no load fund but there are 12b-1 fees (marketing fees attached to the fund). Participants get a prize for beginning the Monetta Express program for kids, a bean-filled plush toy train car; as kids make additional investments in their fund they collect additional cars of a train. When they’ve reached $5,000, they will have collected all seven trains. The train program and materials are really more appropriate for younger children than teenagers.

Stein Roe Young Investor (ticker symbol SRYIX); Stein Roe Growth Investor (ticker symbol SRGIX), (800-338-2550; www.younginvestor.com) Minimum investment is $1,000 for a custodial account or $100 minimum with an automatic investment of $50 per month thereafter. No load. The best known and largest of the kiddie funds. Young Investor is a large -cap fund; the newer Growth Investor fund is the same fund, but it comes without the educational material that accompanies Young Investor. For kids in the Young Investor program, materials include the newsletter, an activity book, and additional information about investing.

USAA First Start Growth (ticker symbol USFGX) (800-235-8377) Minimum investment: $250 or $20 a month. Investment Objective: large cap growth fund. This is a no load fund. Like Stein Roe, USAA’s First Start invests in stocks kids are familiar with. Investors can join up for $250 or $20 a month in an automatic investment plan. Kids receive First Start News, a quarterly newsletter. Unlike some USAA products, which require a family member to be a member of the military, there are no such requirements to buy into this fund.