How to Create a College Savings Plan you Can Stick To
Thanks to ScholarShare for sponsoring this post.
September is National College Savings Month and it is the perfect time to evaluate where you are at with your college savings goals.
As a mom of 6, saving for college is something that has been on my mind from day one. Other than buying a house, college has been our biggest (and most stress-inducing) savings goal.
Fortunately, there are some great way to break this goal into smaller pieces and we have some great ideas to help you do that.
Saving for any large savings goal starts with a plan.
Money grows over time so the earlier you start, the better off you are. No matter where you are though, it’s important to have a plan now. Don’t put it off just because you feel behind.
Everyone has to start somewhere.
If you are overwhelmed, my first recommendation would be to open a ScholarShare 529 plan. This is the simplest way to start saving for college and you can get started with as little as $25.
Starting is always the hardest part. Once you have that out of the way, you can sit down (with your child if you have a teen) and start making a plan to maximize your resources.
We put together a simple planning worksheet to help you outline a plan. It is hard to reach for a goal if you don’t know what it is. Understanding what you need to save and how you are going to reach that goal makes it feel more concrete.
Writing those goals down and looking at them often, makes that goal reachable.
Printable College Savings Plan Worksheet
Download our college planning worksheet here.
ScholarShare’s Annual College Savings Pledge Sweepstakes
Want to jump start your college savings?
ScholarShare knows how important it is to save for college. They want to help by giving some lucky winners a huge boost to their college savings.
To celebrate National College Savings Month, ScholarShare is hosting its annual College Savings Pledge Sweepstakes.
As part of the pledge, you are asked to declare how much you can save on a monthly basis for your future college grad– even if it is just $25. I’ve found that just making that mental commitment is a great way to gain some traction on your savings goals.
Throughout September, five eligible sweepstakes entrants will be selected each week to receive $500 (in the form of a ScholarShare Gift of College gift card) to support their savings goals.
To enter for a chance to win, California parents, grandparents, guardians or family members can submit an official entry form here. The sweepstakes begins at 8 AM Pacific Time (PT) on Sept. 1, 2016 and ends at 8 AM PT on Sept. 30, 2016 (“Sweepstakes Period”).
Here’s how it works:
- Visit CollegeSavingsPledge.com (You can also find some great downloadable resources here!)
- Enter your college savings goal and provide your contact information. Enter for a chance to win!
- For an additional chance to win, once you sign the pledge, share it with your friends and family.
