A licensed financial advisor or planner may also be helpful in helping you create a strategy that best suites the family s financial needs. Have a plan For each child, set aside a fixed sum for savings from each paycheck for their future education. Don t divert that money to anything else. Start Early Research ways to invest and save for your child s future. Explore state college savings plans, pre-paid tuition plans, Education IRA s, state and U.S. Savings Bond programs , interest bearing savings accounts, certificates of deposit, mutual funds, annuities, stocks and bonds.
Many people try to make money in a hurry by jumping in and out of the stock market.
Speculators rarely end up with the sums that are accumulated by those investors with the patience and wisdom to pick suitable investments and stick with them for long term earnings. Gradually Few people can make large investments in stocks, mutual funds, bonds, savings accounts or any other investment when they start saving. Take the time to create a savings plan and invest regularly and gradually. Save as a Family - Involve your child in saving for his or her college education. Start a savings account together.