Here's another post from my column over at Adaptu.com (@Adaptu on Twitter).. I write about all things college savings related.. check it out and be sure to comment!
One question I get all the time is ‘when is a good time to start saving for my child’s education?’ My answer – as soon as you can! Whether your children are toddlers or teenagers it’s never too late or too early to start saving for college. Of course the amount you can save is based on your budget and household expenses, but it is important to set a goal, even if you will have to begin later. Don't allow the costs of college to overwhelm you, do what you can. Create a strategy for where you are now, and stick to it.
Two key things you need to consider are:
- How long you have before your child/children graduate high school &.....
- How much you can afford to set aside each month
Let’s just say the average cost of college whether private or public is $25,000 per year. Remember this amount fluctuates depending on the school. It also doesn't take into consideration inflation or annual tuition increases - but it’s a good starting point, so let’s crunch the numbers.... (More)
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