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Cast Your Vote:

    • Yes -- Votes: 18
    • No -- Votes: 21
Bonnie Beaver♥ 3 kids; North Pole, Alaska 18324 posts
Dec 7th '12
Quoting [♥]Mrs. Morgan:" I started one for my daughter. I add 100 a month and all of her Christmas and birthday money she gets. ... [snip!] ... money I will give her half and put the other half in her account. I have 6,000 in there so far, and she's 4."


NICE!
I was thinking 50 a month. Can definitely do that. I'll have to talk to DH about it. Because I HATE having to use student loans. I'll still make sure he gets good grades and if he gets a scholarship, it can be new car money or something. haha

Elle&Cole⛄️ 2 kids; 1 angel baby; Rio Rancho, NM, United States 32231 posts
Dec 7th '12

Yes, $100 of DH's paycheck goes into her "growth" account aka college

[♥]Mrs. Taylor 18 kids; Texas 12250 posts
Dec 7th '12

<blockquote><b>Quoting Legendary Bonnie Beaver:</b>" NICE! I was thinking 50 a month. Can definitely do that. I'll have to talk to DH about it. Because ... [snip!] ... loans. I'll still make sure he gets good grades and if he gets a scholarship, it can be new car money or something. haha"</blockquote>



Yeah, we do 20 a week since Dh gets paid weekly. We have our checking account and two savings accounts and we transfer money into both savings accounts each week as soon as he gets paid. That way its like we just don't even notice its gone.



Also, if we ever have an emergency we have a good cushion.

Rad Tech Chick 1 child; Washington 7231 posts
Dec 7th '12

Yes I put 40 a month in it

Bonnie Beaver♥ 3 kids; North Pole, Alaska 18324 posts
Dec 7th '12
Quoting [♥]Mrs. Morgan:" <blockquote><b>Quoting Legendary Bonnie Beaver:</b>" NICE! I was thinking 50 a month. ... [snip!] ... he gets paid. That way its like we just don't even notice its gone. Also, if we ever have an emergency we have a good cushion."


I was thinking of opening up a savings too. We've been horrible with money lately. And it's bit us in the ass.

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44076 posts
Dec 7th '12

For those of you that say u can't afford it, do u get any tax return $ back? We can't afford it but we make it a priority to give the money that we get on taxes for our children to our children.



It is a HUGE priority of mine to ensure my dds can go to any college they choose. They will not know about their accts and will still have to work hard in hs to get scholarships. But at least if they don't get any they will not have to worry about the financial burden of college. My job as a parent is to give my child a better life than I had, and both SO and I have had to work our way through college and struggle and this is not something I ever want my children to feel. That is why we make this our main priority every year when we get our tax return.

Bonnie Beaver♥ 3 kids; North Pole, Alaska 18324 posts
Dec 7th '12
Quoting ♡Sarah♡ + 2:" Yes, we started one for Kieran 2 years ago during B's last deployment. Its a money market account so ... [snip!] ... a month. Not a lot but its something. We need to start one for Kellan. I forgot the name of it. Its offered through USAA."


I was just looking at it! haha
529 College Savings Plan.

[♥]Mrs. Taylor 18 kids; Texas 12250 posts
Dec 7th '12

<blockquote><b>Quoting Legendary Bonnie Beaver:</b>" I was thinking of opening up a savings too. We've been horrible with money lately. And it's bit us in the ass."</blockquote>




We've learned the hard way that we needed our savings. Dhs car always needs something, house needs repairs. It has saved my life a few times, especially when Dh bought a set of tires from a tire shop and within a week all 4 blew out. And they wouldn't replace them, so we ended up paying for 8 tires.

SpaceCowgirl Due December 21; 3 kids; Oregon 20240 posts
Dec 7th '12

Yes, each of our 3 kids has about $4,000 in their accounts.

thewarmth 3 kids; South Carolina 14438 posts
Dec 7th '12

Nope, still paying off my college loans...

thewarmth 3 kids; South Carolina 14438 posts
Dec 7th '12
Quoting lolajessup:" For those of you that say u can't afford it, do u get any tax return $ back? We can't afford it but we ... [snip!] ... something I ever want my children to feel. That is why we make this our main priority every year when we get our tax return."


I hate to burst your bubble, but even when putting aside tax money every year, you will most likely still have to pay more with your savings to put your child(ren) through college. College rates go up pretty damn exponentially, and in 15+ years, I cringe at the thought of how much tuition/room&board of a 4 year well known university will be. But hey, at least you will be able to pay a chunk, but being able to outright pay it on the spot, unlikely.

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44076 posts
Dec 7th '12

Ours is an education fund through a local credit union. They put the money in CDs and you build interest. So the girls really will have more $ than we put in.

Pey and Trista's mommy Due January 5; 3 kids; 2 angel babies; Houston, Texas 42503 posts
Dec 7th '12
Quoting lolajessup:" For those of you that say u can't afford it, do u get any tax return $ back? We can't afford it but we ... [snip!] ... something I ever want my children to feel. That is why we make this our main priority every year when we get our tax return."


We can't put a lot in often but it collects interest so we try the best we can! :)

lolajessup 3 kids; 1 angel baby; Beaverton, Michigan 44076 posts
Dec 7th '12

<blockquote><b>Quoting thewarmth:</b>" I hate to burst your bubble, but even when putting aside tax money every year, you will most likely ... [snip!] ... university will be. But hey, at least you will be able to pay a chunk, but being able to outright pay it on the spot, unlikely."</blockquote>



I hope im making enough money by then to pay the extra. But it's gonna pay a big chunk. Or at least get her started.

The Master Due September 8; 2 kids; Perth, Australia 20023 posts
Dec 7th '12
Quoting lolajessup:" For those of you that say u can't afford it, do u get any tax return $ back? We can't afford it but we ... [snip!] ... something I ever want my children to feel. That is why we make this our main priority every year when we get our tax return."


I only get a minimal amount back and a few years I've even had a tax bill due to HECS and how much I've earned :( I'm so desperate to get back on track with savings next year.