This post is made possible in partnership with ScholarShare, but all opinions expressed are my own.
Image Credit: Alex Schreyer
You know education is important to our family. And while we’ll let our kids ultimately choose what college to go to, there’s one thing all universities have in common: they all cost money.
I was really excited when ScholarShare approached me about an opportunity to work with them, because I’ve already been using a California ScholarShare 529 college savings plan to save towards my boys’ higher education. I opened accounts years ago, because I wanted an easy way to invest the red envelope money my boys received for birthdays and Chinese New Year.
And I’ll admit, as a parent, it’s daunting to watch the cost of college tuition – even fees at public universities – keep increasing. All those zeroes? That’s got to be a mistake, right?
But the reality is that any amount you can save towards college helps. You can open a 529K account with as little as $25. Like a 401K plan is to retirement savings, a 529K allows tax-deferred investment towards education. California’s plan is managed by TIAA. For those grandparents or relatives who want to contribute, there’s also an e-gift option, so it’s easy give to your child’s account.
If you’re feeling discouraged by the high cost of college education, don’t just put it off – start small. Many employers offer automated paycheck contributions, and you can invest as little as $15 per payroll period. As we often teach our kids, every little thing counts and small steps do add up!
How to #StartSmall With ScholarShare
College-Savings-Roadmap
Check back throughout the year… as a ScholarShare ambassador, I’ll be offering more tips and thoughts about college savings, learning about money, and preparing kids for college.