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With tuition costs rising faster than inflation, by the time our kid heads off to college tuition will be through the roof. It’s never too early to start saving.
3 Tips to Start Saving Today
Designated “College” Bank Account
Investing in mutual funds puts a professional in charge of your savings so that you don’t have to watch the markets daily. Encourage family and friends to purchase $25 savings bonds in lieu or as part of gifts.
Make Saving Fun
Once your child is old enough empower them to start thinking about their future. Recycle and save — you’ll teach them about being green and saving at the same it. Birthday money — have the child keep a small portion and put the rest in a savings account. A piggy bank at your baby shower for change then keep adding your lose change at home. You would be amazed at how fast it adds up.
By saving now you are creating a peace of mind for yourself and your child’s future. What are a few ways you are saving for your child or teaching them to save?
I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.