- Start earning your own money with a part-time or summer job. (Look at my old posts for ideas about how kids can earn money.)
- I’ve talked about how you can divide your money into categories to Save, Spend, Invest and Donate. Set aside a portion of the money you save for college expenses.
- Ask your parents for help opening a college savings account. You might even ask them to consider making a matching contribution each time you deposit your own money from work or gifts.
- When asked for gift ideas, suggest money for your college savings account.
Parents: Evaluate the potential benefits of contributing to tax-advantaged college savings vehicles, such as a 529 plan or a Coverdell Education Savings Account. Read “529 Lesson Plan: High Scores for 529 College Savings Program” to learn more.