Before you start putting money away for your child’s college savings in a 529 plan, consider a few budget-friendly ways to fund it without dramatically impacting your life.
These can be small decisions—like directing credit card rewards toward college savings—or something bigger. Patricia Roberts, author of Route 529: A Parent’s Guide to Saving for College and Career Training with 529 Plans, says her family saved by keeping the same car they had when her child was born until he went off to college.
“As long as it still ran well, there was no need to replace it,” she said.
You may not need or have to do something as dramatic to fund your child’s education. But try these tips to maximize college savings.