5 Ways for Parents to start saving for their kids college education

I just had a little girl. She is the cutest thing that I have ever seen. Of course, I am sure that is what every parent says, but really, she is the cutest little girl. As she has started to get a little bit older, my husband and I have started to think about her college education. As college graduates, we really hope that she decides to go to college. My husband and I are first generation college grads and we would love for our little girl to continue the trend. It does seem like it is forever away-our little girl going to college-but it really isn't. My husband and I have decided to start saving for our little girl. If you are thinking about saving for your child's education. Start today. It can never be to early to do so!

Here are 5 tips when it comes to saving for college. 

Set a goal
Set a goal when it comes to saving money. If you get paid every 2 weeks, take a little bit out of every pay check. If you are starting early enough, you only have to take out $50 dollars every check. Decide on how much you want to put aside for your child's education. 


Stick to that goal
Once you start saving, make sure that you are sticking to that goal. It is a small sacrifice now that will benefit your child for years to come. 


Leave the money alone
After you have saved and you are starting to build up a considerable amount, pretend that it doesn't even exist. Don't touch that money. It can be easy to use the money on a rainy day, and justify not paying it back. If you are in absolute need to use it―be careful of paying it back. 


Set up an investment account
If you are afraid that you will use the money, set up an account that will only let you put money in―not take it out. These type of account will also have high interest rates so that you can earn money while you are saving it.


529 plan
There are two 529 plans. One is to start paying for a certain college now. This has to be for a certain college and for no other. The other plan is to start paying for college and then transfer it to the college that your child decides to go to. It is nice because you will only have to pay for how much college costs today. You don't know how much it is going to keep going up. 

If you want your child to go to college, make sure that you start saving for college. If you plan accordingly, it will not be a huge burden to send your child to college. Good luck saving!

About the Author Neltje Maynez is a freelance writer for MyCollegesandCareers.com.

My Colleges and Careers helps people determine if an online education is right for them, helps them understand how they can find the best online colleges, and which ones they can choose from to reach their goals.