Have you given any thought to how you will pay for your child’s college education? I know, you are probably thinking, “What?? My child isn’t even in Kindergarten yet and you want me to think about college already?” Well the answer to that is an emphatic YES!!
At the current rate of inflation, a college education at a State college in fifteen years from now could cost you $200,000. If you haven’t started saving for college yet, you are already wasting valuable time, but we have some great ideas to get you started painlessly and today.
Idea #1: Start a 529 college savings plan and have relatives donate to it every birthday and christmas instead of buying gifts that will be soon long forgotten (kids are like that, you know?). Also if you have a job that allows, donate a small amount each paycheck and watch the money grow using the magic of compound interest and/or dollar cost averaging.
Idea #2: Join UPromise and earn money for college on every purchase you make. We personally earned thousands of dollars tax free for both our children’s college education, and the program is much better today than when we started years ago. There is no cost to the consumer as the seller pays you a rebate on purchases in order to gain your business. This is free money, people! Go to the website to read all about how it works and start using it today!