How are you saving?

mtilmin · 03-17-2008, 01:36 PM

hello all if you have kids what methods, accounts or habits did/are you doing to save for college or any other future things.

I have a 2 yr. old and 3 month old. But I feel I should start now!

stardanced · 03-18-2008, 04:45 AM

I don't have kids, so other posters will probably be able to give you much better advice. But I wanted to mention Upromise in case you hadn't heard about it. It's a program that allows you to register your credit cards with them, and then gives you cash back on purchases made with certain vendors. You can funnel the cash they give you into any 529 savings account for your children.

I just registered with Upromise last September (I'm a student). I wouldn't suggest going out of your way to make purchases that benefit your account (like trying to buy the grocery products on their lists). Just register your cards and spend money like you usually do and sometimes you'll get a little cash back. It's not much, but over time it will add up.

rachael24 · 03-18-2008, 05:41 AM

Hopefully we get some responses here. Im interested myself since I am expecting my 1st child in May.

USCGamecocks · 03-18-2008, 03:59 PM

In 18 years how much would one think you could save up? $1,000?

dapooh1 · 03-18-2008, 04:19 PM

My parents held the philosophy that they wanted to make major financial milestones like college "do-able" for me, but they didn't want to do all the work for me. I remember as a child how impressed I was with the US Savings bonds that arrived in the mail each month for my "college fund" (in truth, my folks dipped into the funds a couple of times for other needs). They managed to save enough just with savings bonds to buy a prepaid college tuition program from our state.

I don't have any children yet, but I would like to follow my parents' example of saving a small amount starting at an early age. Even $50/month over time and with compounding will be a great financial help when a child is ready to pursue post secondary education/training.

03-17-2008, 01:36 PM	#1
mtilmin Junior Member Join Date: Feb 2008 Location: Burbank, CA Posts: 4 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	How are you saving? hello all if you have kids what methods, accounts or habits did/are you doing to save for college or any other future things. I have a 2 yr. old and 3 month old. But I feel I should start now!

03-18-2008, 05:41 AM	#3
rachael24 Member Join Date: Mar 2008 Location: Binghamton, NY Posts: 35 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (10)	Hopefully we get some responses here. Im interested myself since I am expecting my 1st child in May. __________________ Recent Finance graduate with a concentration in debt counseling.

03-18-2008, 03:59 PM	#4
USCGamecocks Senior Member Join Date: Feb 2008 Location: Columbia, SC Posts: 139 Thanks: 0 Thanked 1 Time in 1 Post Reputation: (20)	In 18 years how much would one think you could save up? $1,000? __________________ Timemakeover.com - Time Management Articles & Resources

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03-18-2008, 04:45 AM	#2
stardanced Junior Member Join Date: Jan 2008 Posts: 16 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (16)	I don't have kids, so other posters will probably be able to give you much better advice. But I wanted to mention Upromise in case you hadn't heard about it. It's a program that allows you to register your credit cards with them, and then gives you cash back on purchases made with certain vendors. You can funnel the cash they give you into any 529 savings account for your children. I just registered with Upromise last September (I'm a student). I wouldn't suggest going out of your way to make purchases that benefit your account (like trying to buy the grocery products on their lists). Just register your cards and spend money like you usually do and sometimes you'll get a little cash back. It's not much, but over time it will add up.

03-18-2008, 04:19 PM	#5
dapooh1 Member Join Date: Feb 2008 Posts: 42 Thanks: 0 Thanked 0 Times in 0 Posts Reputation: (12)	My parents held the philosophy that they wanted to make major financial milestones like college "do-able" for me, but they didn't want to do all the work for me. I remember as a child how impressed I was with the US Savings bonds that arrived in the mail each month for my "college fund" (in truth, my folks dipped into the funds a couple of times for other needs). They managed to save enough just with savings bonds to buy a prepaid college tuition program from our state. I don't have any children yet, but I would like to follow my parents' example of saving a small amount starting at an early age. Even $50/month over time and with compounding will be a great financial help when a child is ready to pursue post secondary education/training.