21 College Savings

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M College costs are daunting and important.  Start planning early.

V 529 accounts are a good way to begin college savings in the very early years of a student’s life.  Besides using that money for college tuition, you can now use up to $10,000 tax free to pay for private elementary and secondary school expenses with those funds.  This is good news if your child attends a private Christian school, or any private school.  Teaching young children, teens and young adults, to save early is always a good idea and get them involved.  Matching their contributions to their own savings is a great way to encourage work ethic and personal savings disciplines.