re: Best way to invest $50-$100 a month..

First off, gah damn boy second off, and I know you don't want to hear this but 1200/year divided by 5 will not be enough to fund college for them no matter what investment you put your money in. I would tell you this though, if you invested 1200 a year until you are lets say 70 at an average yield of 9 percent which is what franklin income fund has been doing since 1948, it would be a great gift to them and your future grandkids.