Save Money For College Starting Today
Okay, so your child is only a few days out of the womb - THAT DOES NOT MATTER! The cost of college will continue to grow and by the time your child is 18 years old - you will need more than $250,000 to afford a college education for ONE CHILD!
Saving for college is not as hard as it may seem. Just like any part of a budget, you need to set aside money. But, this time, that money can not simply go into a savings account somewhere that is accessible. That money needs to be put away for the duration of the 18 years where it can not be touched. There are different bank accounts with limited accessibility that differ from bank to bank. All you need to do is go into the bank and ask about saving money for college. Make sure you tell them you do not want to touch the money for at least 5 years. A better option is more like 10 or 15 years, but let's start out small.
For more ideas on how to save money for college - let us insert a professional who can talk a little more about savings plans and tax savings. Have you ever heard of a 529 plan? These plans are available in the United States and a sure fire way to save more money for your child's college education.
Saving for college is not as hard as it may seem. Just like any part of a budget, you need to set aside money. But, this time, that money can not simply go into a savings account somewhere that is accessible. That money needs to be put away for the duration of the 18 years where it can not be touched. There are different bank accounts with limited accessibility that differ from bank to bank. All you need to do is go into the bank and ask about saving money for college. Make sure you tell them you do not want to touch the money for at least 5 years. A better option is more like 10 or 15 years, but let's start out small.
For more ideas on how to save money for college - let us insert a professional who can talk a little more about savings plans and tax savings. Have you ever heard of a 529 plan? These plans are available in the United States and a sure fire way to save more money for your child's college education.
