Google+ Mommy Moments with Abby: Saving for the Future

Tuesday, January 24, 2012

Saving for the Future

I hate that I'm still paying on my education.  Whose with me?  I'm annoyed that Sallie Mae got itself into trouble over housing?  Frustrated, that due to changes I can no longer consolidate loans with them and that if I decided to go back for a different degree or finish a higher degree (I started my Masters, but decided to have babies and work at home instead) chances are I will have to pay a higher interest rate and will be paying it off for a while despite that we pay our bills on time, check to make sure the insurance paid our medical bills as they should, and own a home with equity.  I would love to be able to move the family abroad and educate them in other languages/cultures/environments, but having the loan over our head is dampening that much to my dismay.  I do not want this for my children.

Because of this I am exploring the 529 College Savings Plans.  These allow you to save for your kids future without risking the money getting hit by a tax when withdrawn.  Luckily, their are a lot of companies out their working with the government to create these accounts.  Once company,
Mission Tuition, offers a free educational savings program for parents, relatives, and even students.  What I really appreciated is that they offer some great information on just what the 529 plan is and it is free to sign up with them.  By using the website to shop with major retailers, you can earn valuable money toward cash rebates (as well as earning discounts at the same time) all of it going to your 529 plan for your kids future.  I made sure to do some background research on them and encourage you to do  your own and if you find anything please comment below.  I did not find anything on the Better Business Bureau on them or the scam boards or complaint boards leading me to feel that this program is one worth trying.  I plan on saving for my kids future and the earlier we start the better.  How are you saving for your little ones future?

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