Question of the week: How soon should I start saving for college?

Hello all and I want to say Happy New Year!! This is my first post for 2016 and so far this year has been good to me and it is flying by. I can not believe tomorrow is February 1st, oh well time waits for no one. Anyhow I have added a new item to my blog to go along with my Didn't see that coming segment I have added a the question of the week. This section will be real questions from parents who would like my advice on issues. I am not saying I am an expert and people may not always agree with my answer these are my opinions of what I think will work best. Thank you for taking the time to read my blog, please feel free to comment or share with others.

Question of the Week

Dear Marcee'

I just had my first child, a baby boy and I wonder is it too soon to start thinking about and saving for college? When should I start and what is a good way to save?

Concerned Parent

Hello Concerned Parent,

Thank you for your question. First let me say congratulations on your new baby boy. I am quite sure he is bringing you much joy and keeping you very busy. To answer your question, I believe you should start saving for college as early as possible. Based on the current cost of college the sooner you start the better. Now how much you save is totally up to you. I would research current tuition cost for both public and private universities to give an idea of where to start.

You may want to speak with a financial adviser about a 529 plan. A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.

There are also sites that you can use to save over time. I have used Upromise before. This is a good option to help save, it basically gives you money back on places you shop and purchases you make, and there is an option for family and friends to contribute as well.

I know that college is a huge expense and I have the student loans to prove it lol. But, this is an investment in your child's future. I would recommend doing some research and determine what your budget will allow. The best time to start is now. I hope this helps and good luck with your search.

Best of luck,

Marcee'

Do you have question you would like me to answer?

Please send your questions to marsay73@yahoo.com

Didn't See this Coming

Here are the 10 most crazy, outrageous and unbelievable stories I seen on the internet this week. Please enjoy and feel free to comment or share any stories you have seen

1.Guy in Superman costume stops a robbery

2.Dead man plays poker one last time Hmm that is weird

3.Virginia family dead in murder suicide

4.Women beats husband for refusing sex I do not condone violence

5.Amherst college dumps its racist mascot

6.Zika virus confirmed in LA county

7.Monk slashes 162 tires upset cause he killed a bug...Really??

8.Women defaces corpse of boyfriend ex-girlfriend...this is beyond crazy the woman is dead

9. Man dies in car crash watching porn..wow that was stupid as if texting and driving is not dangerous enough

10.Man arrested for secretly recording men & boys in chick-fil-A restroom

Thank you for taking the time to read...

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