Tips On Saving For A College Fund

 

So you’re a parent of a teen, and you need tips and strategies to begin a saving plan to send them to college or university. The first thing a parent must do when it comes to saving for a teen’s college fund is start early. There is no better time to start, than when they are born. As soon as you give birth to your child, it’s time to start saving, preferably through a Registered Education Savings Plan (RESP). Saving for college early is a great way to relieve a little of the stress that saving for college can do to a parent. Something else to keep in mind when it comes to saving money is to simply ask for contributions. For instance, instead of having grandma and grandpa buy you a new bike for your birthday or for Christmas, talk to them about contributing to your college fund. Your child can even raise the money him or herself by working odd jobs, like delivering newspaper or selling baked goods. The amount of ways you can put money towards college is endless. Once a child is at the age of being ready for college, parents play a huge part in financial advice and assistance. Never forget your role as a parent when it’s time for a child to make there entrance to college, because you are your child’s biggest supporter.

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