6 Uncommon Ways to Build Credit for Your College Fund

Saving for college is one of the most important things a parent or a child can do for a secured future. As the price for college is going up and the difficulty in finding a job afterward is arising, even the smallest amount can help.

Here are 6 uncommon ways to save up more for building the college credit:

  1. Use part of the cash gifts as savings
  2. College FundIt is easy to entertain a young child with something simple, like a toy car, which costs less than $10 and then put the rest in savings. As the gift amounts get larger, parents and children can determine how much to save and how much can be spent. Friends and relatives will appreciate the picture of the child with a toy and knowing that they are also helping with the child’s future.

  3. Create a savings goal
  4. Parents and children should find out the current price for local and state colleges and then add 5% for every year until the child reaches college. This will help establish an end goal and it can be advanced over time.

  5. Advertise how much is saved towards college
  6. This can be done on Facebook, Twitter or some other media site. Families that share their target and current progress toward that goal are encouraging others to join in the plan for the child’s future.

  7. Create milestones
  8. While most families know when a child will go to college, it often is so far off that it is easy to ignore. Creating annual or regular milestones keeps the family on target for the ultimate goal.

  9. Engage children in their future
  10. Teaching children to save is one on the most important lessons a parent can instill and a college fund is an ideal way to do it. By the time a child reaches the teenage years, they should be aware of the goal and should be helping to reach it.

  11. Use tax-advantage places
  12. Both the Federal and state governments offer tax-advantages through things like Roth IRAs. The money can only be used for college, forcing families to be more conscientious and aware of their savings.

Steve Burgess is the contact person for FaaastCash based in San Juan Capistrano, California, that provides instant online payday loans, servicing the entire nation. Steve has over 25 years of senior executive experience turning around, building and leading some of the fastest growing and most successful companies in America. He has his MBA, makes media appearances, and is a highly regarded speaker at conferences, corporate and business events, and leading universities. Steve is also a #1 bestselling author whose books include Purpose, Passion, Abundance, On an Enlightened Path, and Living in Abundance.
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