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Finance Tip of the Day

Should I Save for My Child’s College?

  • 2017 12 Oct
Should I Save for My Child’s College?


Should I Save for My Child’s College?

The answer depends on your current financial position. If you are in debt and don’t have a solid retirement savings plan, than you should focus on stabilizing your financial position first. If you have no consumer debts and you are well on your way with retirement savings, then opening a 529 college savings account for your child could be a good idea.

  • Check your state’s specific rules regarding 529 accounts
  • Ask if your state matches your contributions
  • Keep in mind you will be able to use those funds for qualified expenses ONLY

Today's tip brought to you by Mvelopes and Money4Life Coaching.

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