J.G.
I can see your husband's point of view. You just NEVER know what's going to happen in the future and you may need every last bit of money for your son when he's older. Often, when taking out a few bucks, you might say to yourself "I'll put it back when I can." but often, it never gets replaced. Leave the college fund for college, your savings for other important things (my brothers spent their "college fund" on drug rehab. One brother is already spending his inheritance on a lawyer he can't afford. So thank God that Mom and Dad saved and saved for him when he was little).
Before your son needs clothes, start hittng garage sales. I buy clothes at garage sales in sizes too big for my son so that I have them when I need them. Last week I paid 50 cents for each shirt. Son won't wear the shirts for another year, but fr 50 cents a piece, I couldn't beat that anywhere! Shop at Thrift Stores too. You can find great stuff for cheaper than some stuff new at Walmart. And really look at what you're buying. Does he really need those three new toys? Or would one do? Did he need that book? Or could you borrow it from the local library? Does he need 8 new shirts? Or could we do okay with 4?
Best of luck.