PHP AGENCY: YOUR TRUSTED INSURANCE PARTNER

The best time to start saving for college is at birth. By leveraging compound interest and making regular contributions—whether monthly or annually—you allow your savings to grow over time. This long-term approach reduces the amount you need to set aside each month to reach your goal. 

Smart Savings Strategies

You don’t need to invest a large amount all at once. Many parents start by setting aside $25 to $100 per paycheck and having it automatically deposited into a college savings plan. If you receive a raise or bonus, allocating a portion toward your child’s education fund can accelerate your savings. 

Choosing the Right Pathway

Selecting the best investment option is crucial. Various college savings plans and investment vehicles exist, each with unique rules and tax benefits. You may even choose to maintain multiple accounts to adjust as your financial situation evolves.

You don’t need to invest a large amount all at once. Many parents start by setting aside $25 to $100 per paycheck and having it automatically deposited into a college savings plan. If you receive a raise or bonus, allocating a portion toward your child’s education fund can accelerate your savings. 

Selecting the best investment option is crucial. Various college savings plans and investment vehicles exist, each with unique rules and tax benefits. You may even choose to maintain multiple accounts to adjust as your financial situation evolves.