https://boards.hellobee.com/ Pregnancy, Baby and Parenting blog, by Hellobee en Mon, 20 Apr 2026 17:19:36 +0000 https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660110 Thu, 01 Dec 2016 13:53:37 +0000 birdofafeather 2660110@https://boards.hellobee.com/ <p>In laws opened accounts for the girls but we don't have anything except savings accounts that have a little in there. It's on our list for next year. Hoping we can have it transferred automatically from DH's paycheck or set up an auto deposit. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660103 Thu, 01 Dec 2016 13:46:14 +0000 LuLu Mom 2660103@https://boards.hellobee.com/ <p>In laws have a 529 for each girl and we have a savings accounts that right now just get holiday/birthday money. Eventually we will contribute more to it but have more necessary items we need to address at this time. I'm not opposed to my children paying for part of college, I think it makes a student work harder when they are helping pay for it. HOWEVER I do not want them to have $$$$ in student loan debt like I do. My parents helped out with living cost when I was in school but my education was my responsibility, I chose private college and it was super expensive. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660093 Thu, 01 Dec 2016 13:36:35 +0000 GoGoSnoGirl 2660093@https://boards.hellobee.com/ <p>We only have a savings account for our LO at the moment, but we have talked about opening a 529. I need to read up on them more. I have stock &amp; other investments that I could use to jump start her college fund. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660076 Thu, 01 Dec 2016 13:22:27 +0000 caterw 2660076@https://boards.hellobee.com/ <p>We don't have a savings account or college savings for our girls... I wish that we did. Now that we have gotten on top of hospital bills and some big emergency bills, our goal for 2017 is getting ahead financially. I am still paying off my own student loans and we are saving for a house as well so it's not our top priority but I do want to start saving for their college at least by when they each start kindergarten. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660033 Thu, 01 Dec 2016 12:40:57 +0000 thestairs 2660033@https://boards.hellobee.com/ <p>College fund as in the 529 plan then No. I heard alot of people prefers the 529 plan when it come to save for baby college. To be frank, I don't know anything abotu 529 plan, I never open one before.<br /> Me? I just put mine in a traditional/regular saving account. A seperately saving account where the money is set aside just for the baby only.</p> <p>My husband give me money every time he gets pays, and he get pay weekly. He started giving me money eversince we got married (we got married 22 months ago). I know he wants to see me well taken care of, and I'm grateful for that but I really don't need it; especially he secure everything already so I can live a stable steady and comfy life.<br /> .................<br /> I told my husband numerous times that I don't want and don't need him gives me money, but he keep on insists and insists. So I told him I open a saving account and just put the money that he gives me in there.<br /> I haven't a penny of the weekly/monthly money he gives me, it all still in the saving account. If I'm going to use it--it will be for our baby only. I want to save it for our future baby; baby expenses, baby college, etc... </p> <p>I'm very frugal. I'm a coupon person, I save every dollars as I can.. My husband make a low six-figure income, and I'm here cutting coupons, lol<br /> He has no problem bring in the income he bring in. ugh.. but there is a price for that yearly income, he has to work long hours (he work 70 hours a week).:-(<br /> He very responsible with money. He has decent savings in saving accounts, save for rainy days. He has decent savings in 401k/retirement.. He Debt-free. We both are, so life is comfy for us despite we live in a HCOL state.</p> <p>He said the weekly money he gives me, it is mine; spend it, save it, do whatever I want with it.. He said go buy anything I want. Or if there something in my childhood that I want and didn't get; now spend these money and buy it.<br /> He reassured me don't worry about saving for baby expenses, because he will cover all of that. I mean I know the baby won't starve with his income. But I still want to save it.<br /> Perhaps I love saving money too much.. But I'm glad I can save this money for our future baby. I been saving it for 22 months (so almost 2 years), and I want to see it continue grow and grow. At least this is something I can do for my baby.</p> <p>I only have a High school diploma (No college degree), so what the heck do I know about University tuition. But I want my baby to go to college, and I hope I have enough to pay for my baby college tuition.<br /> I have a question though, how much do you usually put in each month for your baby college? How much is the usual amount needed to save a month for public college? Public college is what I aim for, no way we have enough to send our baby to private college. Definately not here in California where the cost of living is so expensive.<br /> Would me continue put in average of $900-1K a month for the next 18-20 years would that be enough to cover for baby college tuition (public college)? </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660030 Thu, 01 Dec 2016 12:38:44 +0000 Mrs. Lemon-Lime 2660030@https://boards.hellobee.com/ <p>No separate 529 type college fund. Our long term stocks/ savings account are earmarked for LO's college. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2660020 Thu, 01 Dec 2016 12:30:57 +0000 Boogs 2660020@https://boards.hellobee.com/ <p>We have Roth IRAs setup for each kid. The money we put in them monthly, and for their birthdays and holidays, in our minds will be for their education. But, we chose the account type we did so they have options with the money, say like using some for a first car, and eventually if they happened to have enough, a little nest egg to start their future by maybe having a small down payment for a home. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659946 Thu, 01 Dec 2016 11:21:15 +0000 looch 2659946@https://boards.hellobee.com/ <p>@hummusgirl: There is very little on campus housing in Switzerland, it's for the very special cases, not the majority of students that enroll. When we think of how it compares to the typical college experience in the US, where you live on campus and have all these social activities, that doesn't exist. Additionally, while it is free of charge to the students, you can only enroll if you have completed the appropriate secondary schooling. </p> <p>Most students live at home and commute, but the system there is more friendly to students working part time and going to school part time. My husband, for example, spent one semester going to school full time, living at home. He hated it, so he began working for a bank part time and going to school part time. That afforded him the ability to be able to pay for an apartment. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659931 Thu, 01 Dec 2016 11:11:37 +0000 lamariniere 2659931@https://boards.hellobee.com/ <p>@hummusgirl: I think it depends widely. My DH (and his siblings) lived at home and went to the local university. Some places offer student housing and other students go it alone and get their own place/share. I know you can get student rental subsidies in France (I benefitted one year), but I don't remember the details of how it works. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659928 Thu, 01 Dec 2016 11:06:00 +0000 hummusgirl 2659928@https://boards.hellobee.com/ <p>@lamariniere: @looch: I'm curious about how it works in Europe - how do college students pay for room and board? Is that subsidized? I went to a public university in the US and the tuition wasn't so bad but it was still really expensive to live, eat, etc. Do parents still pay for that? </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659923 Thu, 01 Dec 2016 11:00:34 +0000 808love 2659923@https://boards.hellobee.com/ <p>I autopay a regular monthly amount in a Roth that will be used specifically for LOs college. We have been good about it since she was born until the past three months where I halved the amount but I will boost it back up next month. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659921 Thu, 01 Dec 2016 10:57:30 +0000 2PeasinaPod 2659921@https://boards.hellobee.com/ <p>We have savings accounts for each kid and put money in there as they receive monetary gifts. Every once in a while, I'll add a bit of our money to there as well.</p> <p>We don't have a specific college fund or 529 since you'll pay a penalty to withdraw if your kids don't go to college, so we're using other vehicles to save our money and will use that to pay for a portion of their college. They'll need to have some stake in paying for their college as incentive to do well. Once they've graduated, we'll pay off their loans if we have the money at the time. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659902 Thu, 01 Dec 2016 10:39:51 +0000 HappyBaker 2659902@https://boards.hellobee.com/ <p>We have a savings account for each kid which we put $10 each a week into, and any gift money they get. We don't have college funds at all. My thinking is once they are out of daycare we can hopefully start saving more and that we can just get loans and pay on them what we can for them. We should be in a MUCH better place financially when no kids are in child care / our house is paid off! </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659899 Thu, 01 Dec 2016 10:35:52 +0000 snowjewelz 2659899@https://boards.hellobee.com/ <p>No and no. Finances are tight for us these couple of years with daycare... So I'm not even contributing as much as I'd like to our own 401k/IRA/general investment accounts. So I'm ok with starting either a college fund/saving accounts for both girls a little later on, maybe once they're in elementary school. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659891 Thu, 01 Dec 2016 10:31:55 +0000 youboots 2659891@https://boards.hellobee.com/ <p>She has a saving account. We will get a 529 next year. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659863 Thu, 01 Dec 2016 10:15:53 +0000 skipra 2659863@https://boards.hellobee.com/ <p>Same as you, money is tight right now because I SAH. We do not contribute to their college funds and the money in their savings accounts is just the amount we gave to open it plus gift money they receive. They do have 529 plans that my dad funds though, so maybe that makes it less of a priority for us to save for them. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659855 Thu, 01 Dec 2016 10:12:18 +0000 sapphire 2659855@https://boards.hellobee.com/ <p>Do remember that compounding interest really adds up after 18 years. Savings account interest rates are so low right now. Even a small amount in a 529 can add up over time and other people can contribute. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659854 Thu, 01 Dec 2016 10:12:12 +0000 ValentineMommy 2659854@https://boards.hellobee.com/ <p>We have a savings account for each child. My parents contribute to their education accounts. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659842 Thu, 01 Dec 2016 10:05:55 +0000 DesertDreams88 2659842@https://boards.hellobee.com/ <p>Well, we're still paying off the hospital bill from labor and delivery 11 months ago, and still paying my student loans.... So a college fund isn't happening. </p> <p>As of now any financial gifts that we've gotten for him, we put in a savings account marked for him. We use it to buy bigger items that he needs, like new car seats, stroller, etc </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659796 Thu, 01 Dec 2016 09:20:26 +0000 Corduroy 2659796@https://boards.hellobee.com/ <p>We have accounts for the kids but we only deposit gifts there. DH and I haven't made any contributions. We plan to pay for or contribute to college but we aren't setting aside money specifically for it. I plan to start once the kids enroll in school and we aren't spending so much on daycare for 2. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659788 Thu, 01 Dec 2016 09:09:13 +0000 yin 2659788@https://boards.hellobee.com/ <p>We have a savings account for both boys, and gift money from family and friends goes straight into their accounts. We are not in the position to contribute currently but plan on doing so in the next couple of years when DH is finished with grad school and DS2 has completed preschool. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659776 Thu, 01 Dec 2016 09:03:11 +0000 looch 2659776@https://boards.hellobee.com/ <p>We don't have a specific account for college savings. I am too hoping that my son decides to go to college in Europe, which is his right as a citizen there. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659773 Thu, 01 Dec 2016 09:01:01 +0000 skinnycow 2659773@https://boards.hellobee.com/ <p>We don't have one yet as we're paying off some (necessary) home improvement debt. We should be done with that in a year or so and then we'll open up a college fund/savings account of some kind. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659763 Thu, 01 Dec 2016 08:53:23 +0000 sunnyday 2659763@https://boards.hellobee.com/ <p>We have savings accounts and RESPs (education saving plan) for our kids that we contribute a small monthly amount to. We're really not in a place either, but I sort of treat it like a bill. I work somewhere that offers 50% off tuition only for my kids if they go to college or university at a publicly funded institution, so that may help a bit, too. Both DH and I "paid our way" via student loans so we aren't crazy concerned with covering for our kids but are totally okay offering an extended roof over their head once they have graduated so long as they are working and hacking away at debt. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659761 Thu, 01 Dec 2016 08:52:37 +0000 Mamaof2 2659761@https://boards.hellobee.com/ <p>no college fund but yes to savings accounts (actually its mutual funds)</p> <p>My mom puts money in 2 times a month and so do I - they also put some gifted money in there</p> <p>When the time comes if we can afford to help them pay for college we will </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659756 Thu, 01 Dec 2016 08:50:38 +0000 jhd 2659756@https://boards.hellobee.com/ <p>We have not set up a savings account for him yet. We have been focused on other financial goals and he is rarely gifted money anyway. We will probably set something up at some point! </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659754 Thu, 01 Dec 2016 08:49:55 +0000 lamariniere 2659754@https://boards.hellobee.com/ <p>We don't have any specific accounts for our LOs. We are banking on the fact that they will go to university for free in Europe though (thanks to our tax contributions). </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659752 Thu, 01 Dec 2016 08:49:00 +0000 T.H.O.U. 2659752@https://boards.hellobee.com/ <p>Right now we are just focusing on contributing to our Roth IRA which is my understanding can also be used for education expenses. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659735 Thu, 01 Dec 2016 08:26:16 +0000 Mrs. Sunshine 2659735@https://boards.hellobee.com/ <p>We don't even have savings accounts for them 🙁 We are trying to catch back up from all the out of pocket costs incurred when DH started his new job last month (hotels, food, etc.) and prior to that it was paycheck to paycheck. I do plan on eventually setting something aside for them regularly. Thus far we've even needed to spend gifted money. </p> https://boards.hellobee.com/topic/if-you-dont-have-a-college-fund-for-your-lo#post-2659729 Thu, 01 Dec 2016 08:14:22 +0000 pinkb 2659729@https://boards.hellobee.com/ <p>We are the same as you. We have savings accounts for them but not college funds. We contribute when we can, which currently isn't too often but put their gift $ in there. As of now we don't plan to have college funds unless our financial future ...brightens :) don't get me wrong I would love to! But it isn't in the cards at this time. (My parents did not have one for any of us either maybe that's why I am not too overly concerned) </p>