How to save money for college for your loved one? It’s a burning question and a real challenge for many families. First of all, you should decide what college and when you’re going to enter and how much money you must save every month. Surely you must have an imagination of what savings means are accessible to you and how they can be realized. School years is a perfect time to start saving for college. It would be better if you start from the very both of your kid.
Here are also some ways for money saving.
1. Invest in your kid’s future. When relatives ask what present they should bring, ask them for…some value papers of any company. It is sounds strange but it can be really useful. Your kids will grow up and will take all benefits of such presents when they reach college age.
3. Explane your children about the value of money and the necessity of saving them. If you have such opportunity take your adult kids to bank or stock market and show how these things work.
4. One of the most important things you should do is to teach your kids savings plan. Make short-term and long-term saving plans together with your kid. Talk about the difference between them. Parents can even open individual accounts in banks for their kid’s money. You will be surprised how much they excited as they watch their accounts grow as they put deposits periodically.
5. Be an example for your kids, don’t be wistful. Make a family or personal savings account. Let them learn the way you count money which has to be saved for a long-term aim such as a big purchase. Prove the importance of an education so they will learn to value it for themselves.
Start early and do not give up!