There are many ways to Save for your Childs Education and Tax Free Education Funds have big Advantages.
No matter how you save money for this future you dream of for your Child the most important thing is to start early.
Start saving Early for Education
There is no way around the fact that Education is Expensive.
Each year it gets more and more expensive.
When you are planning for how much to save remember that it is going to be higher.
A lot higher.
30 years ago the amount needed for Education was about half of what is needed now.
The only way to handle that fast increasing amount required is to use compound interest.
Let the savings work for you.
If you put away a relatively small amount monthly when your child is born it will grow quickly.
You will almost for sure have education covered.
There are sacrifices you will need to make.
Things like keep your housing modest and practical.
Buy reliable yet economical Cars.
Cars are a huge long term cost.
Definitely you cannot buy that fancy Sports Car you Fancy.
Benefits of Tax Free Education Funds
Once you have settled down the plans for regular savings its time to talk Extra Growth.
You can and must take advantage of governmental plans to aide you.
Plans like a 529 plan.
The 529 plan is a state sponsored Savings plan that is Tax Free.
This means that the massive amount of interest it will generate over the 18 to 20 years it is growing will be Tax Free.
That is like getting a potential increase of 15% on top of everything else.
This is Free Money and you must take advantage of it.
This is the extra boost that allows your fund to grow fast enough to keep up with rising Tuition Costs.
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