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college funds!


Forum: January 2010 Playroom

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View Poll Results: Do you have an actual college fund set up for your LO?
yes 4 21.05%
no 15 78.95%
Voters: 19. You may not vote on this poll

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  #1  
August 12th, 2012, 06:22 PM
LadyCoconut's Avatar Platinum Supermommy
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vote in the poll!
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  #2  
August 12th, 2012, 06:41 PM
Nicole1110's Avatar Platinum Supermommy
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Nope. I plan to do a savings account, not necessarily a college fund.
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  #3  
August 12th, 2012, 07:31 PM
*Izzy's*Mommy*'s Avatar Mega Super Mommy
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We have a savings account for her, but not a designated college fund.
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  #4  
August 12th, 2012, 08:12 PM
~April04~'s Avatar Platinum Supermommy
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Yes - our states 529 plan for both of them.
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  #5  
August 12th, 2012, 08:32 PM
RobinJS's Avatar Platinum Supermommy
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No, just a savings plan.
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  #6  
August 12th, 2012, 11:07 PM
Maxs Mumma's Avatar Veteran
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No but he does have a savings account that I put $5 into each week which I started about a year ago.
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  #7  
August 12th, 2012, 11:28 PM
RachaelDMommaTo3's Avatar Platinum Supermommy
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We don't have college funds for the kids, but we do have savings accounts.
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  #8  
August 13th, 2012, 03:32 AM
Fae*Aibell's Avatar Mega Super Mommy
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No we don't, because the government pays a lot of the fees over here, you do pay something, i think about maybe €2000 registration fee and then you buy your books. TBH i don't know the exact figures. Our eldest Jake who is 8, has been described by his phychologist as a genius and he falls into the top 2% of children academically in the country. He has been attending college courses since he as 5!!! We do have to pay for that as the government pulled the funding on it about 5 yrs ago. He attends regular school as normal but is bored out of his mind there so to keep him challenged we have to send him to these college courses too.
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  #9  
August 13th, 2012, 06:48 AM
gina!'s Avatar Platinum Supermommy
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No specific college fund, but they all have a savings account. And my mom has something going for them. Maybe mutual funds? I don't know. I figure in 10 years when Nathan starts college, I'll be working full time at that point, so we *should* be able to pay for it that way.
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  #10  
August 13th, 2012, 10:51 AM
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He has a savings account. I want to move to a state that pays for college expenses like GA or PA. Hopefully, that wont change by time he is old enough to go
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  #11  
August 13th, 2012, 11:07 AM
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I voted yes, only because there is a trust fund that will pay for it.
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  #12  
August 13th, 2012, 12:03 PM
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We dont have one, and likely wont even start a savings account for each them until they start school & we can stop paying a farking mortgage payment to daycare every month.
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  #13  
August 13th, 2012, 12:52 PM
Nicole1110's Avatar Platinum Supermommy
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Quote:
Originally Posted by Moontan
We dont have one, and likely wont even start a savings account for each them until they start school & we can stop paying a farking mortgage payment to daycare every month.
This exactly. If I could bank his monthly daycare costs for 13 years (age 5-18) then he would have $125k saved (plus any interest) by the time he's college bound. Of course I wont bank ALL that money cause mama wants to live a little too.
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  #14  
August 13th, 2012, 01:04 PM
peace.love.audrey's Avatar Don't get it twisted!
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Quote:
Originally Posted by Moontan View Post
We dont have one, and likely wont even start a savings account for each them until they start school & we can stop paying a farking mortgage payment to daycare every month.
Yup, this. Right now we pay almost $1200 a month for day care/preschool/pre-k expenses. So we will start saving once they are all in school.
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  #15  
August 13th, 2012, 07:53 PM
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Yes, though it's really a savings account. I went into the bank and said "I want a college savings account" and that's what they gave me. After I got home, I realized it wasn't what I wanted. I'll change it in a few years when I can start putting more money into it.
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  #16  
August 17th, 2012, 01:48 PM
doodoosmom's Avatar 4 kids?! Who's counting!
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Not yet..we kind of put it off for the same reason a couple other people said, we had such high daycare expenses for the boys..now both boys are in school so we have been talking about starting savings accounts..not necessarily college funds..but putting money aside for all of them individually in their own accounts.

We plan on putting money aside in all their accounts every month plus all their money they get for Christmas, Birthdays, etc.

My parents never put aside any money for me and I always wish they would have.
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  #17  
August 18th, 2012, 06:40 AM
gina!'s Avatar Platinum Supermommy
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^^^^ that was one thing my mom did right, she always put the money we got as gifts into a savings account for us. it turned me into a saver too, i was never one to blow my paycheck.

i put 98% of the money the kids get into their accounts. between the 3 of them, they have over 5K already. the majority of it is nathan and brady's (they got a TON of money at their baptism, poor chase isn't going to be baptized, so less $...lol)
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  #18  
August 20th, 2012, 03:26 PM
Sally5's Avatar Exhausted Mommy!
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We just recently moved college funds for all 3 kids from Alaska to Georgia... They used to make more money in an Alaska fund but that's not the case anymore...
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