Rabu, 26 September 2012

Saving for Your Baby's College

If you haven't had a child yet, then you may believe that it is too early to think about saving for your child's education. However, this is not the case. Many people are completely unaware of the fact that college tuition is increasing at a dramatic and some would even state alarming fashion. The simple but startling fact is that a four-year degree, even from a state school, may become increasingly difficult for the average family to afford. This necessitates preparing for your baby's eventual college education well in advanced.

College Tuition is Skyrocketing
College tuition costs are increasing at a rate that far exceeds inflation and other increases in the cost of living. While you might still be thinking about your baby shower or baby shower invitations or gifts, it is definitely not to early to think about how you will pay for your child's education.

Meeting with a Financial Planner
Taking the time to develop a strategy regarding how you can pay for your child's future education is one of the best moves you can make to help your child. Meeting with a financial planner or discussing the situation with a business savvy friend or relative is a fantastic first step. You will likely find that if you start saving for college when your child is still an infant, you are able to accomplish a great deal with a nominal monthly contribution.

Finding solid, dependable and trusted advice is a major part of this process. Not all financial planners are of equal quality or experience, which is the case with any industry. Asking your friends and relatives if they have anyone that they trust or can recommend is a prudent step.

Being Involved in the Process
Keeping an eye on how you are investing your money in your child's college fund is of paramount importance. Trusting a financial planner explicitly is never a wise decision and could lead to serious problems. You need to be involved and keep a keen eye on how your investment is coming along. After all, your entire child's education could be on the line, and that means you need to be an active participate in the process and not simply a spectator.

Niki Johnson is a writer who specializes in articles about planning the best baby showers and getting the best deals on baby shower invitations.