Search Results for: blog number crunching a college fund

Adults can save for college too!

Thinking about going back to school? Need a new trade, like mechanic, hairdresser, computer analyst? A college savings fund can help you make your dreams come true – without going into debt for school! Adults can open a 529 college savings fund – for yourself. You don’t have to be a kid to save for college. Maybe you are twenty something, newly married, have a child and are thinking about going back to school in a few years after the kid is grown a bit – but you aren’t sure if you’ll be having more children, therefore putting off the … Continue reading →

Number Crunching: A College Fund

My daughter is three. We are going to open her a 529 savings college plan with a $1,000 initial deposit into it. We plan on putting $500.00 per year in to the plan for the next fifteen years. That is only $42.00 per month. (ok, it is really $41.66 per month). We can handle that. We’ll plan and budget for $500.00 per year, probably for a summer deposit, so it doesn’t come over the expensive December month. Since this is a 529 plan, the money will not be taxed. So, how much will she have for college? Can you figure … Continue reading →

Thoughts on Inherited Money:

First, let me say I’m sorry for your loss. As someone who’s recently been through a death in the family I know how devastating it can be. During this time you may come into some money, but it is not a time you should be making financial decisions. Most experts agree – take your time before spending any inheritance. Make sure that you take all the necessary steps – canceling any social security, turning off the phone, (if you are responsible) and then take a step back. The amount of money you’ve come into doesn’t matter – it could be … Continue reading →

Four ideas to save on the cost of child raising.

Raising our daughter K hasn’t been toooo expensive – yet. The diapers and pull ups have been the biggest financial commitment so far, and they are almost done. As she gets older though, I can already tell she’s going to be the kind of gal that wants ballet lessons, horseback riding lessons, after school activities, nice clothes. Since birth I’ve been shopping the thrift stores for the best in clothes, and for a young girl I’ve done pretty well. I found that the trick is to really take your time and not buy something just because it is cute – … Continue reading →

Small or Big, where do I watch my pennies?

Should you sweat the big stuff or the small stuff when starting out? What a great question I received from a friend, and I’ll try to answer simply. Both of course. Watch both the pennies and the dollars Ok, but that may be easier said than done – after all, your starting out and want to pull your finances in line, but everything seems so, well, daunting! I’ve written about baby steps to take when you are starting to plan a budget, but what if you have to start even smaller than that to get yourself motivated? Here’s what Hubby … Continue reading →