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Financial Peace of Mind – Saving for College Early

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We have two kids in college right now and it is expensive!  The cost of college has skyrocketed over the past ten years, and if you haven’t priced college lately you are in for some sticker shock.  It used to be that a child could finance college by working part time and getting a small loan, but now that is difficult, especially for a child who can’t live at home and commute to college.

Kids who graduate from college with big loans are at a huge disadvantage for years.  Current estimates are that the average debt for graduating seniors in 2012 was over $29000!  That kind of debt means that kids can’t afford things like a car or apartment after they graduate, because their student loan payments are so large.  So one of the best things you can do for your children and your own financial peace of mind is to start saving for college early – as early as possible.

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We started putting money away for college expenses when I was pregnant with my first child. Even with that early start we didn’t save nearly enough, because of how much college costs have skyrocketed. But we are doing our best to minimize loans for my kids, so that they aren’t paying them back for years to come.  So my big advice this holiday season is to think beyond the hustle and bustle of the holiday season and remember what your long term financial goals are.  Don’t trade short term “stuff” for long term financial security for yourself and your kids.

Capital One wants to help you achieve financial peace of mind, and right now they are having a Black Friday Sale on their financial products. Visit them to take advantage of Capital One 360’s deals on banking, brokerage and mortgage products.  They offer easy ways to save for college, like remote deposit capture with Capital One 360’s CheckMate tool and Automaic Savings Plans which make savings a snap.  Here are all the deals they are offering for this Black Friday Sale!

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These deals can help you get a jump start on college savings, and the sooner you start saving the happier you will be when those tuition bills come due.

I was selected for this opportunity as a member of Clever Girls and the content and opinions expressed here are all my own.

By on November 29th, 2014

18 thoughts on “Financial Peace of Mind – Saving for College Early”

  1. Having financial peace of mind in this day in age is not an easy feat–but it seems that way with your blog post in how you’ve given some tips! Kudos! Thank you for sharing this, as I find it very valuable info. I will be adding this link to Stumbleupon for sure!

    ~Cathy~
    OurMiniFamily.com

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  2. Wowee! Two kids in college! I’ll have to admit here that I’m sadly STILL paying off my student loan. I love that Capital One is realizing how they can try to help meet us out.

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  3. Ugh, I need to put three through college and really should start saving now. It would make my life so much easier. Am totally going to look into this.

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  4. When our kids were born we started saving for college right away. It is amazing how fast the money adds up and it was such a relief to have the money when they were ready to attend the college of their choice.

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  5. We didn’t save a dime for our daughter’s university tuition, so it’s a good thing that she got a full tuition and fees scholarship 🙂 Saving a little every month certainly will help, I also encourage parents who have college on the horizon to look for other ways to help save on the tuition bill. Scholarships of course are huge! A lot of business will put money toward tuition too if students get jobs with them.

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  6. Thank you for sharing this great college saving plan. It’s true that nowadays college cost is high than the last ten years. So I appreciate your saving plan for kids’ education. Actually, I am working as a professional academic advisor at a famous educational services company, you can check review here to know more about our academic services, we especially work with students’ academic writing solutions. Our aim is to teach and supporting college students that can help to boost their academic performance.

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