College Savings: A Message to New Parents

October 3, 2014 - Stacee
Babies are cute and cuddly. And while you are enjoying these precious moments with your new bundle, remember that now is also the best time to start planning a successful future for them.
 
Parents, saving for college should start at birth. Why wait to see whether or not your child will attend college, or get a scholarship 18 to 19 years down the line?
 
Instead, think of your savings as an investment in your child’s future — be it college, trade school, or any other goals and aspirations they develop along the way. 
 
According to www.finaid.org, here are some tips on how to get started saving for your child’s future:  
  • Establish a goal.
  • Save early and regularly.
  • Make saving automatic.
  • Invest windfalls instead of spending them.
  • Increase the amount you save each year.
  • Ask relatives to help.
  • Redirect old regular payments towards the savings goal.
  • Review your living expenses and make adjustments, as needed.
  • Involve your child in the savings plan; use it as opportunity to teach him or her about saving.
You can see more tips like these at www.finaid.org.
 
 
While we believe the external website listed above is reputable, we neither endorse it nor can vouch for its complete accuracy. AC:0911-5040

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