Disclosure: This post has been sponsored by Country Financial, but the content is my own. #TakeSimpleSteps
I see the beginning of a New Year as a clean slate, a time to look back and see if I need to make any changes that may benefit my family. Being a mom, it is hard to find time to do this, as I feel like I am on a never-ending hamster wheel that doesn’t ever pause. However, it is important to take some time to see if there are any areas where you’d like to make some changes. I have noticed that time is definitely not slowing down and my kids are growing up, being 11 and 9 now! I’m realizing that we need to spend more time thinking about college and to start saving for it, especially with a 529 Plan.
With my son, we started a a 529 Plan when he was a baby, but we didn’t really contribute to it. However, he started middle school this year it’s hit home that we need to start contributing to it more. Family has offered to contribute to the plan in exchange for birthday and holiday presents, which is great! However, this year we want to start thinking about how much we need to contribute to his 529 Plan as a family, so that it has time to grow in the next 6 years.
My daughter, being the second and last child didn’t even get a 529 Plan set up for her when she was born! We set up one much later and didn’t contribute much to it either. We’ve talked to family and they have started to contribute to her plan instead of giving her actual birthday/holiday gifts. We also want to decide how much we want to start contributing to her account and if we need to put in as much into her account as her brother, since she has 9 years until college. The kids are really excited about this, because they are at an age where they realize that college is important.
As a parent, I love that the 529 Plan lets anyone contribute to it and it is basically a savings account that the government will let you build TAX FREE! How amazing is that?
https://www.youtube.com/watch?v=r4reQq34WTo
College is not getting any cheaper these days and can cause a lot of financial debt. I want to be proactive for our kids and help build a cushion for them, so that they don’t have to worry when they decide which college they want to attend someday. Taking simple steps is key!
If you’re like me and are starting to realize time is flying, you may be starting to think about your child’s college education. Be sure to reach out to COUNTRY Financial to help you set up a 529 College Savings Plan today! Follow them on Facebook, Twitter, and Instagram as well to get updates on other financial topics.
This is my fourth post in this series, check out my first post Why You Need to Set Up a 529 Plan for Your Kids, my second post Talking to My Tween About Saving & Preparing for College and my third post How I Plan to Save for my Youngest Child’s Education.
