Life Change: Saving for College

This post brought to you by BMO Harris Bank N.A. Member FDIC. All opinions are 100% mine.

 

This post brought to you by B.M.O Harris Bank N.A. Member FDIC. All opinions 100% mine.

When we had our little Molly girl {almost a year ago!} one thing we immediately started thinking about was her future. Not only does it cost money to bring home a new baby, it also costs money to raise them:) College is a large part of the money equation for a baby so we have opened an account to stockpile money for that hefty college tuition I'm sure we'll encounter one day. I can just see this curious little face picking the most expensive college out there:)

molly on quilt at cabinWe met with our financial advisor to choose the right account for us. There are lots of options out there on how you are going to save money so it's always a good idea to do your homework. In this week's BMO Harris Bank Scavenger Hunt Sweepstakes, the stats they share might surprise you.

college savingIf you start putting away money at an early age for your kids, it will save both you and them money in the long run. The interest on those loans can be outrageous and you end up spending wayyy more than necessary. Can you believe it will cost around $200,000 to send Molly to college?!?

college tuition

My parents can't complain about what they spent on me-that's a crazy amount of money. And that's only for one kid! Be sure to check out the Scavenger Hunt on Facebook to enter for a chance to win  $500. That would be a great start to that college fund, wouldn't it? How do you save for college? Do you have any great tips?

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