[ScottishBrit]

Do you have or plan on starting a saving's fund for your LO for College?

[sara~b]

Gemma has like $500 in savings. As soon as I get some more debt paid off I will start putting more away for her. It's just a regular savings though because what do you do if they don't want to go to college and you have one of those education funds that is penalized for non-school withdrawals? *shrugs*

[greeneyes]

Yes, we are setting aside money in special accounts for the girls' college tuition. We also have a wedding fund for both of them.

[Frozendesire]

We just have a regular investment account.. or something lol. I don't know what it's exactly called our accountant set it all up for us (James knows haha).

We pay a certain amount each month. There is NO penalty if we skip a pay (with school funds here you would have to make this up, making it take a month long etc). We can also access it at any time. This was a HUGE deal for us. The boys might need tutors or other financial help to complete high school (James has dyslexia and could have used financial help and it's hereditary) and it's of course super important that they complete highschool. Anything not touched can be used to whatever education they choose.

[Chelnae6]

I dont have a college fund yet b/c she's not here but when she gets here, I will start one.

[soImarriedAnerd]

I have 529 for him and a savings for him....looking into a Roth IRA for him now..not sure how much or if we can do that though. I want to avoid the kiddie tax.

[LisanAndy]

We put away $20 a month for each child

[Mars]

I have a savings plan set up for Amara. It was one of my savings accounts that I put $500 in monthly. I had set it up a few years ago and I can claim taxes on it so I just decided that it would be hers. The funds will go toward her schooling and whatever's left after that will be hers too.

I also plan to set up an insurance policy for her but so far the policies here are pretty crappy so I'm waiting around to see if any good ones turn up.

[misfitinmn]

Ben has a savings account from us (we put any money he gets for gifts, etc into that), my mom has an account for him (she puts money in there for gifts and I think contributes somewhat regularly), and Jon's parents have an account for Ben & I THINK they contribute monthly? I'm not sure.

[~*sierra*~]

i will likely do an education savings thng for my future kids. if you put in a certain amount, i think its $2500 per year then the government will put in $500. free money is always good!

[midnight_starr]

We will be setting up our kids a savings account for college for sure!!

[HopeWishWait]

We have a college fund for Conner..it was really important to me to start one. My whole life my dad told me "You better be good at something because we can't pay for college" and it always stressed me out. So I wanted this for Conner. Right now he has a little over 2,000 so it's a good start

[Oriyan]

We don't have anything for J.J. Our parents did not pay for us to go to college, or buy us cars. They did however help me pay for our wedding, and buy me books for school. We will probably do the same.

[IamMom]

Great thinking Amy - I had a thread about this not long ago! We have a 529 fund set up for each child...my dad also already put a large sum of money into a 529 for each child. We have an additional 529 set up to put the money we earn on our Upromise account into (we have Harrison's name on it but you can always switch them). Harrison has his own savings account but it'll be for fun stuff and to teach him how to safe...its not really for anything in the future. We also have a small life insurance amount for each child. Our children WILL go to college if I have anything to do with it! But if they don't or go military or whatever you can change the beneficiary (with no penalty) for up to 30 years after the original beneficiary reaches college age - so it could be used for our grandkids or anyone else in the family (even like if David wants to go to grad school etc. etc.)

[JediRach]

We are setting up a high interest savings account for this LO when they get here but decided against doing anything you can't take money out of for things other than school. I sincerely hope my children go to college but I don't want to take a chance that they don't and then not have access to that money for some reason.

[Angelaosaurus-rex]

Chris is going to sign over his GI bill to Landen. That will pay for his first degree!! We will be putting other money away for it.

[Resi]

At this time we have a savings account set up for him. Gift money goes in it.

[amazing_love]

No we don't and i'm not sure whether we'll decide to or not yet. Neither of our parents paid for college, but they were willing to help out in other ways.

[ScottishBrit]

Originally Posted by greeneyes

Yes, we are setting aside money in special accounts for the girls' college tuition. We also have a wedding fund for both of them.

That is a GREAT Idea to have a wedding fund since you have 2 girls and know you have to pay for the weddings! We just set up Cambria's saving's. We also have a AMEX College card that only has $300 limit on it. There's a percentage of that $ that goes into the saving's account for her. When you pay it off it's goes back up to $300 ( it might have more on it i dont know ) and so on. At least I can still spend money and it goes to her saving's.

[niknok]

We have a savings account for Drake, and transfer money from it once a year to a 529.