Diapers, daycare and direct deposit … for her kids’ college savings. American Century Investments employee, Maria Huggins, shares why she’s starting her kids’ college savings early.
When did you start saving?
My husband and I started saving when my son, Jack, was 16 months old. I used a college calculator and was shocked at how much even in-state college (Rock Chalk!) is expected to cost in 2033. Knowing we had another child on the way gave us even more of an incentive to start planning for their education.
What do you like most about the plan?
How easy it is to save. I have my bi-weekly contribution taken directly out of my paycheck so that I don’t have to budget for that expense or transfer money. At this point in life, I try to automate as many of my financial transactions as possible! It’s also nice to log into my account periodically and watch the balance grow.
How did it make a difference?
Starting to save for college early gives us peace of mind knowing that we are helping to set up our children for future success. Our goal is to watch them graduate from college without student loans and without impacting our own financial security as we near retirement.