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529 Plans

January 11th, 2013 at 02:32 pm

We deposited some money into our girl's 529 college savings plans. We opened a 529 for each of our girls when they were born. They both have pathetic balances.

The money we deposited this month was money that each of them have earned through their 4-H livestock projects. We deposited $1,900 into DD1's account, and $200 into DD2's account. DD1 has been showing and selling 4-H animals for three years, and this was DD2's first year.

Once we get the CC problem taken care of, college savings is yet another financial reality we will have to face. In 8 short years, DD1 will be ready. Ouch.

Posted in Education, Saving Money, Credit Card Debt | 4 Comments »

4 Responses to “529 Plans”

  1. ThriftoRama Says:
    January 11th, 2013 at 02:40 pm 1357915246
    1357915246

    I think it[s great that they've earned and saved money from 4-H livestock projects. I was a 4-her, and now that I am an adult with two kids (3 and 4), I'm having a hard time finding a (future) 4-h club for the kids. It's such a valuable experience, I don't want them to miss out!

  2. Jenn Says:
    January 11th, 2013 at 02:49 pm 1357915789
    1357915789

    I can relate to concern on college planning. I have 5 kids and just thinking of the college bills can be overwhelming. (And the fun starts this fall!) But a long time ago someone with kids older than mine warned me not to be intimated into inaction. He said "No matter how little you've saved, you'll be thankful for every dollar of it when the time comes." I remind myself of that fairly often now.

  3. creditcardfree Says:
    January 11th, 2013 at 02:50 pm 1357915835
    1357915835

    The time is short that our children our in our care. It seems so hard in the beginning and you want time to speed up, but as they get older you want time to slow down.

  4. Jerry Says:
    January 14th, 2013 at 02:05 pm 1358172339
    1358172339

    I can totally relate on the college costs, as well. We are living overseas and higher education is one thing that could lead us to stay as expats... the country where we are living now has outstanding universities and the costs lead to almost nothing out of pocket for tuition each semester. Compared to the US these days, it's an absolute bargain. I'd like to have the insurance of the best education possible without breaking the bank.
    Jerry

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