A special thanks to Country Financial for sponsoring this discussion. All thoughts expressed are my own.
<p As a mom with experience in sending kids off to college, I can share insights from our family's journey. Out of our four children, two have already completed their college years at different universities, and we have about seven years until our third child starts this journey.
<p We've faced some challenges in funding their education, but it doesn't have to be as complicated as we initially made it.
Start Saving Early…
You’ve likely heard this advice many times, but it’s incredibly important. Begin by setting aside small amounts of money whenever you can, even if it’s just the spare change you find at the end of the day. Some parents I know never spend $5 bills; instead, they place them in a savings jar dedicated to college expenses. By putting away money from garage sales or savings from coupons, those little contributions can accumulate significantly over time.
Involve Your Kids…
Getting my children involved in fundraising, like holding lemonade stands or bake sales during garage sales, has always been a great experience. By letting them take part in saving for their education, they develop a sense of responsibility. I’ve noticed that children who are involved tend to treat their education more seriously. In contrast, peers whose parents cover all their expenses often lose focus, party too much, and struggle academically. Give your kids a sense of ownership!
Research College Costs Together…
When kids understand the financial aspects of attending college, it encourages accountability. For instance, even choosing one of the more affordable institutions could still cost around $19,000 a year for tuition, room, and board. While researching colleges, my kids learned about possible scholarships and student loans, helping them make informed choices about their educational expenses.
Paying for college can be more manageable with early planning and saving. As tuition costs rise, it’s important to consider the impact of inflation over the next decade. To explore options for saving for college, check out Country Financial’s educational funding solutions.
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