shannon Clark, LIFE & FINANCIAL Coach
As a mom, I know what it's like to feel exhausted, overwhelmed by life, and inadequate to meet my children's needs. But I also know you don't have to stay there.
As an author and coach, I've had the joy of encouraging more than 9.1 million moms to find forward motion with their faith, family, and finances — without the frenzy.
Will you be next?
2 thoughts on “How to Save for College on a Tight Budget”
My little boy isn’t quiet here yet, so we haven’t really started putting anything away for college. In fact, having only graduated college a year ago myself I haven’t even started paying my debts. Lucky for us my little baby boy has an awesome God father to be. A good friend of my husband and I him and his wife can’t have kids of their own and truly don’t want any. He’s gifting our child with a Funded plan that he is promising to maintain for my husband and I for our little one to go to college. Of course my husband and I plan to at some point start a small savings of our own, but we need to first take care of a large portion of our own debt before we can consider our plan of action. I’m happy to know my child is so well loved by his family even before he gets here.
I opened up an ESA for my kiddo a few years back. He’s 5 now and I put in $50 a month. Not a lot, but I figure by the time he is ready for college, it will be a nice supplement to pay for books or maybe a few years at a community college.
I consulted with the financial planner that also set up my ROTH IRA to get the ESA, but seriously it was overwhelming trying to look at plans on my own. I hope I picked wisely (this one is more aggressive as he is younger and gets more conservative as he gets older/closer to college). Any tips for people trying to understand ESA’s?