For most financially responsible parents out there, it’s not a question of if they should be saving for their kid’s college, but how much. Oftentimes parents are wondering how much they need to save in order to be performing their proper parental duty. But we’re taking a more counter cultural stance and are asking the question: should you be saving for college at all? We’re all about thinking in advance and ensuring that we’re properly saving and investing our money, but for a lot of folks, the answer is that they shouldn’t be putting any money towards their child’s future college expenses. Listen as we discuss the benefits of not saving for your kids college, when you can actually start putting funds away in a college fund, and then ways you can go about it properly.
Additional links from this episode:
- And we mentioned Solo Stoves which can cost upwards of $230! Consider making your own if you’re handy enough. And this also raises the question- is it frugal or cheap to make a DIY solo stove?
- We referred to a couple other episodes- scoring college aid with Ron Lieber and generating wealth via blue collar jobs with Ken Rusk.
- Check out Backer.com if others are looking for an easy and direct way to contribute to your child’s 529 plan.
- Extra cash – And regardless of where you are on the path to financial independence, we believe in the responsible use of credit cards. It’s smart to utilize the additional benefits that credit cards offer- for instance the 80,000 points that come with the Chase Sapphire Preferred Card. That’s $1,000 when you redeem through Chase Ultimate Rewards! This is no joke- I’ve already done this myself which we discussed on a recent episode after I met the initial spending requirements of $4,000 over 3 months!
During this episode we enjoyed a Coconut Stout by Easy Chair Brewing Garage- thanks to Jess for donating this one to the podcast! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!
Best friends out!
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