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Saving money for the Kids

A

AntMan530

Senior member
My kids 10 years old. Its time to start saving, but I dont know whats the best approach.

Anyone have any ideas? Anyone doing something they would recommend? thanks all.

It'll be for college. I know there are tons of routes, but I need a jump start...

motivation is my parents tax refund and my refunds coming in and I think itll be a great way to start.

 
I did not save for VeggieFrog's college. So, I was kinda knocked on my ass in her first year at PSU. When the year was over it all totalled up $to 30,000.

If I could do it all over again... i would put $50. a week into someting recommended by a professional. (I did not have $50 a week at the time, but if i did, i would have. 😉 )
 
Check out that Upromise thing. It looks like it helps save without much extra effort on your part.

Also, check if NY (or whatever state you are in if your profile is wrong) has a college tuition savings plan. Those things are great at growing your money and they really help when college comes around.
 
My dad just set up some kind of Vanguard fund (that he specifically uses to pay for my older brother's college, and soon to be my tuition too). The college savings plans may be for you, but a lot of them only allow you to spend the money on education, so if you put too much in or if you fall on hard times and need money you may not be able to gain access to that money.
 
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