Recognized on May 29, 529 Day is a day to celebrate your savings and raise awareness for others about the importance of saving for higher education. Every year, thousands of families from across Virginia and beyond celebrate by making the first step in preparing for the future of their children or for themselves.
Invest529 provides calculators and other tools to help families plan how much to save based on a child’s age, but experts say the key is to identify your goals, attempt to accomplish small steps to get there, and track your progress.
Whether you’re saving for your own education or the education of a loved one, here are five steps to take this 529 Day that will make a lifetime of difference for your family and others!
#1 - Get started.
Families who have delayed saving typically put it off because they either don’t believe they have the money to start, or they can’t decide on the best way to save. These are understandable concerns. With Invest529, you can start saving with as little as $10 and choose how often and how much to save based on your budget. 529 Day is the perfect time to finally take control of your future higher education expenses by starting your savings.
#2 - Make it convenient. Make contributions automatic.
Reach your goals faster and put your savings on autopilot with automated contributions from your checking or savings account. Automating your contributions can make the process of saving for future education costs easier. You can even set up withdrawals from your paycheck. Having a steady stream of automatic contributions, even of just $20 or $50, can be powerful when you start saving early enough.
#3 - Ask questions.
Get your education savings questions answered through live informational webinars, or get hints, tips, and strategies from Virginia529's on-demand video library. The Virginia529 Smart Savers Academy offers free segments to help you understand the ins and outs of 529 plans, including how to use your account when you’re ready.
#4 - Give a gift.
Did you know you can open or contribute to the Invest529 account of a family member or friend? Give the gift of education as an alternative to toys and other gifts for holidays or birthdays. Virginia529 offers gifting flexibility with gift cards, certificates and an online gifting center.
#5 - Share Your Story
Are you using your Invest529 account to pay for your child’s education? Share how Virginia529 is making it easier for you and your family to save. Your experience could be featured on the Virginia529 website, in media interviews and other outreach opportunities throughout the year to share how the program is making an impact on lives across the United States.