How to start saving for your kid's college

How to start saving for your kid's college

Noting that raising kids can be expensive, it is important to start saving for their college.

Therefore, start planning ahead and put some money aside as soon as you can.

Make a plan ahead of time if you find some extra money in your budget to boost college savings for your children.

Look into potential ways to cut costs before college applications start. Talk to your child about their education plans.

Look into tax-advantaged options when choosing an account for college savings.

One beneficial way is to open a 529 account, specifically designed to save for education expenses.

It allows your savings to expand tax-free. At the same time, some states offer a tax deduction on your contributions.

On average, the expenses of one child from birth to age 17 add up to over $300,000, according to latest data.