The following is a guest post by Brian Kuhn CFP®, the author of, "The Personal Finance Handbook". If you’d like to submit a guest post on Money Q&A, please check out the site’s guest posting guidelines. College costs are a problem. It is a trillion dollar problem delaying the retirement of the parents and stunting the career growth of the students. Everybody knows it and it’s not going away anytime soon. Total student loan debt is now over $1.3 Trillion as of June 2016. Planning for your children’s college journey is a personal … [Read more...] about College Costs: How to Encourage Your Kids to Go In-State (Saving You Thousands)
Parents need to have a money conversation before they send their college freshmen off to school. Most new college freshmen have never taken a course in money management or personal finance. Personal finance isn’t taught in America’s high schools. And, it’s up to parents to have a money conversation and discussion about being financially smart before their children learn hard lessons on their own.
A recent survey by USAA.com found that 82% of parents are discussing budgeting with their soon to be college student. Parents must have a … [Read more...] about
This guest post is by Kimberly Palmer, author of the new book, “Smart Mom, Rich Mom: How to Build Wealth While Raising a Family”. For a long time, I resisted opening 529 college savings accounts for my two children. It seemed like a giant hassle, adding even more paperwork to an already complicated situation that included various retirement accounts and a mortgage. I could barely keep up with our current stack of accounts; how could I possibly manage more? But after delaying the decision for a couple years, I finally decided that I … [Read more...] about Should I Open a 529 College Savings Account?
According to a 2014 study on the value of college from the Pew Research Center, college graduates are outpacing their peers in “virtually every measure of economic well-being and career attainment.” This includes average annual income for full-time employment, poverty and unemployment rates, and job satisfaction. For example, when study participants were asked if they were “very satisfied with their current job,” 53% of college graduates with bachelor’s degrees answered favorably, compared to 36-37% of high school graduates and people who … [Read more...] about Is Going to College Worth It Anymore?
I wrote an overview of Dave Ramsey’s baby steps system from his book, The Total Money Makeover, and I have been dissecting each of his individual baby steps as well. The Total Money Makeover is a personal finance book that I highly recommend and one of the greatest personal finance books to read. Today, we will look at Baby Step 5 in more detail which is to invest and save for your children's college education. There are seven Dave Ramsey baby steps that you should follow in order that will lead you to financial peace. Dave Ramsey’s baby … [Read more...] about Dave Ramsey’s Baby Step 5 – Save For College
When it comes to saving money for college, many students and parents are turning to extra jobs, grants, student loans, and scholarships. But, there's another way that you can earn money for college. At Upromise, they've gone the extra mile and made it easy to save for college. What Is Upromise? You can join Upromise for free. That's right, absolutely free of charge. Once you've become a member you can begin shopping on the Upromise website through featured shopping partners. These are merchants that you are already shopping … [Read more...] about Upromise Is The Fast And Easy Way Way To Save For College