Search Results for: college savings programs

Should you Save for College or Retirement

If you have kids, then it is important to invest in a college savings plan. Every dollar you save when they are young, will greater your chances of paying for their education. In turn, you must also save for retirement. How do you balance out these two important long-range investments? Most financial planners will recommend you take care of your retirement first. The main reason being that at retirement you will no longer be making money and will definitely need the savings. Whereas, when your kids are in college, you will still have an income you can rely on to … Continue reading →

Tips on Saving and Raising Money for College

The following are some ideas and tips to help you make college a reality for your children. Whatever their ages, if you want to ensure your kids receive a quality education, consider the following options. 1. State Sponsored 529 Plans: This is a profitable scenario if your kids are still quite young. With these plans, not only can you save for college, you can also gain tax breaks as well as receive investment earning that are tax-free. 2. Monthly Savings Plans: Any amount you save will be helpful. Try to get in the habit a setting aside a set amount … Continue reading →

Start Saving for College Now

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College tuitions continue to go up in cost. It is very important for parents to begin saving for their children’s college education as soon as possible. Some parents begin to save even before their child is born. Below, I have listed some tips to help you save. · Begin saving as soon as you can. It is never too early to start saving. · Save what you can even if it is a small amount. If you feel that you cannot afford to save, save whatever amount, no matter how small, that you can sacrifice each month. · Set-up a … Continue reading →

Playing it Safe During Spring Break

This morning the Today show ran a piece on college co-eds prepping to go crazy on Spring Break in Cancun, Mexico. The report focused on an American student who was brutally attacked while he lounged poolside at his Mexican hotel. Basically, it raised the issue of spring break, foreign travel and safety. Personally, Mexico is not exactly at the top of my family’s spring break destination list. You know, drug cartels and all. Of course, if you are not careful you can get hurt visiting your local children’s museum, though I doubt the injuries would be caused by masked men … Continue reading →

Money Tricks and Treats

Well… it is Halloween, so it seemed only fitting to discuss tricks and treats with money. I will offer up my favorites… please also share a few of your own! Money Tricks! 1. Stash all extra money in a savings account and pretend it doesn’t exist. 2. Avoid taking out any cash, then you are less likely to make that quick impulse purchase. 3. Remove your retirement account savings from your paycheck before you get it, and then each time you get a raise; give your retirement a raise too. 4. Don’t own a debit card. Switch your debit card … Continue reading →

Budgeting Software Options

When it comes to money management and computer software two programs quickly come to mind: Microsoft Money and Quicken. While these programs are good, I have used both of them, I still find that there are things that I wish I could change about the programs. If you feel this way it may mean that it is time to start thinking outside of the computer budget box. One option that you can do is create your own zero dollar budget online using Excel. If you do this you should have a basic understanding of spreadsheets and what you can accomplish … Continue reading →

Money Saving Trends

Like anything else, there are trends when it comes to saving money. Are you keeping up with the status quo? Check the list of current money saving trends to find out. Retirement Savings: In years past, most individuals didn’t think much about their retirement savings. Companies often offered nice pension plans and for those that didn’t have that, Social Security was a given. In today’s times, Social Security is uncertain and most businesses don’t offer any sort of large pension. This has opened the door for consumers to create their own retirement savings accounts – with 401k programs and IRAs … Continue reading →

Choices for Higher Education

We now live in an “I want it now!” society. We can no longer wait on meals from scratch. McDonald’s is timing its service and Domino’s promises pizza in less than 30 minutes. Pregnancy tests compete for who can deliver the earliest response. Children cannot appreciate the value of a savings bond because of its delay in pay-off. The same is true with our education. Two-year colleges and vocational schools are becoming society’s most popular forms of higher education. More students are choosing two-year or vocational colleges over four-year universities. The schooling is shorter and the moneymaking is quicker. Some … Continue reading →

Single Moms Going Back to School – Part Three

For the third part of this ten-part series pertaining to single moms going back to school, I wanted to talk about money, the heart of the matter. When I decided to start school from home, the greatest concern, and fear was the financial end of paying for school. Yes, I knew that finishing my degree was going to push me ahead in my job or a new job, making more money so my kids could enjoy a better life. However, I also knew I would have to make some initial sacrifices to achieve my goal, which was scary. I am … Continue reading →

Setting Financial Priorities

Retirement planning and college savings plans are not either or situations. A wise person will be working on both systems at the same time. The key is to live below your means. The problem many people have with savings for the kid’s college and their own retirement is that they spend everything they earn and live from paycheck to paycheck. This trap that most Americans are in is compounded by our ability to make time payments on so many things, and the use of credit cards. If you were to take a look at the most successful men in America … Continue reading →