Our family’s finances are at the core of many of my thoughts every day. I feel that keeping a good handle on our money situation is big portion of my number one responsibility: to care for our two little ones. Some people may not fully agree with that philosophy, but following that principle keeps us out of debt, keeps our bills paid and motivates me to save money for our family’s future.
My husband and I have an automated system that funnels a certain amount of money into our savings account each week. Just last year, however, it hit me that time slips away quickly, and we needed to start thinking about saving money for Haiden and Piper’s future education. With current estimates showing that a college education will cost at least $36,000 a year (at an in-state, public university that doesn’t include housing costs, books or additional expenses!), I knew we had to start saving if we wanted any hope of being able to help our children with the burden of educational expenses.
After a few conversations but no real action on the topic, I finally decided that starting to save with something, even something small, was better than doing nothing. So new accounts were opened and we’ve added automatic savings into those accounts, too.
I don’t feel great for admitting this, but the truth is that the money is slowly, very slowly, growing in plain old savings accounts with those terrible interest rates that go hand-in-hand with our economy. Again, I know that it’s better than nothing, but I’ll be researching a better plan of action for that money within the next few months to get it in the best possible place for education savings.
The Gerber Life College Plan was designed to help parents like me save for my family’s future. With guaranteed growth, flexibility, and affordable fixed monthly contributions, this program might be the right choice for you and your own children. You can even compare the features and benefits of the Gerber Life College Plan with other savings options, like 529 plans, traditional savings accounts, bonds and more!
Gerber Life is also hosting a great sweepstakes! Visit the Gerber Life Insurance Company page on Facebook to upload your baby’s photos to the Project Open Book picture mosaic. For each photo added to their mosaic compilation, Gerber Life will donate $1 to Reading Is Fundamental, a great nonprofit organization that provides books to children in underserved communities across the country. In addition to helping these deserving children you’ll also be entered to win $1,000 and other great prizes!
I’m also excited to offer a giveaway in conjunction with the Gerber Life College Plan. One lucky reader will win a $100 Target gift card!
There are some great ways to earn extra entries into this giveaway! All mandatory and extra entries must be submitted within the Rafflecopter Giveaway box below.
If you’re reading this article in an email newsletter, feed reader or a mobile device, you may not see the above Rafflecopter box. Please visit babygoodbuys.com and enter the giveaway there.
a Rafflecopter giveaway
All entries must be done in the giveaway box above.
As always, if you have any trouble entering this giveaway, or if you have any questions, please contact me!
I wrote this post while participating in a campaign for Gerber Life. I received a gift card to thank me for taking the time to participate.
We’ve been advised to start saving while they are young.
Start saving as soon as you can.
It helps to remember anything is better than nothing. We also put away any monetary gifts that our daughter receives.
the most helpful tip i’ve gotten is ‘start early’…especially now that we have 2 little ones! college only gets more expensive & scholarships aren’t a gaurantee. i would like to my kids to have as small (if any) students loans as possible.
start early
To start early!
The best advice anyone has given me would be to start saving early with an intentional goal (ie…know what number I would like to reach and use a means reasonable in meeting that goal). We spoke with a financial planner and have both a 529 (the UESP, as it seemed to offer the best package, although we live in another state) and have started investing in a Mutual Fund. We don’t make much money, but my husbands parents saved from the beginning and were able to send all 4 of their children through college debt free. They started early (after paying off all debt!!!!) with an intentional plan – with dedication they succeeded. That is my hope for our family!
start saving on day 1!
The best adivce I got was to take out $20 a week automatically when they are born and put into bank account
That you can do a 529 in another state, even if you don’t live there. We weren’t happy with the one in our state so we signed up with another program that better meets our savings goals and financial personality.
start saving early
we put $150 a month into a savings account for our 2 year old. he can use it for college, or in the case he gets a scholarship, he can use it for a home some day.
We need to especially start early since we will have 3 in college at the same time
We are saving $100 per month for each of them right now.
Start early and don’t put accounts in your child’s name.
Saving since the kids were born.
Start saving early and have your savings direct deposited, that way it doesn’t get lost or forgotten.
We started a college fund right before our daughter’s first birthday and asked grandparents to contribute to it instead of buying her birthday gifts. She won’t even notice the “lack” of toys- at least for a few years!
We signed up for Upromise and started at 529 account for both children. Any money that they get for birthdays and Christmas is put into this account in addition to us contributing to it on a monthly basis.
This is something I need to start doing!
Start before they are born!
The best tip is to start saving right away.
Start saving immediately and put money in a safe account
We’ve been told to start early. We are slowly moving too, but did start when the kids were born. Also have a upromise. Every little bit helps!
Start saving early
save for your kids when they’re young…until they can save themselves!
I have a 529 in Utah since they are one of the best.
start saving right away
Start right away. Or work at a college like I do and get free tuition for your child!
Something is better than nothing! Good for you for starting to save to help out your kids.
The best advice I received was to start a savings account as soon as your child is born and start putting money they receive as gifts in it as well as putting a monthly deposit into the account. Even if it is $10/month it will add up!
Start as early as you can!
the tip i received was start early and hope they choose a state school
The best tip was to start setting aside the a set amount every month starting now.
To start saving now and putting the money into a steady stock that won’t take a dive for my 7 month old son.
Save as much as you can as early as possible and look for good interest rates.
I need to do this thanks for the reminder. Start early
Most helpful tip…start early!
Save early and often! The thought of paying for college scares me!
start early!!
To start saving as soon as they are born and to put money in at birthdays and Christmas as opposed to purchasing toys they become bored of within 5 minutes.
dont forget to account for BOOKS! so $$! and make the student work for it too
To start saving as soon as they’re born. My step-dad’s grandparents always put money in our college savings account for Christmas each year.
Any money my child get from the holidays goes into the college fund.
A savings tip for a widowed single mom: Put all the change and up to 3 single bills from your purse into a safe place every day. Sometimes it’s just very small change. Sometimes it’s $3 plus change. Then hope for every scholarship possible and everybody works. This is how we got my son through his undergrad with no loans.
For those who can–start saving now.
When times are lean, put away just a little something (however small) that you won’t miss every week. Then when things are better, set a goal amount to contribute and stick to it. Everything adds up, even the tiny amounts.
Start saving early and put money in a college fund regularly just like its any other important bill!
Plan ahead and start early
The best tip is to start to save early.
To start saving as early as you can
Start saving the first year of your child’s life.