It’s never too early to start saving money for your kids’ college education! With tuition and room and board costs increasing every year—and often faster than the rate of inflation—the average family will need some sort of financial assistance to afford just one child’s higher education. If you have two or more kids, saving money becomes even more imperative, especially if they want to go to private schools. Short of winning the lottery, it’s unlikely to just have that kind of money lying around when it comes time to send your kids to college.
While saving thousands of dollars certainly won’t happen overnight, small changes you make in your daily spending can add up to the money you need for your kids’ college tuitions. Yes, sacrifices need to be made, but consider it as an investment on your children’s future, and that daily Starbucks coffee will start to seem less important. This infographic by GED Academy shows you which small expenses you can start cutting out today and how much you’d end up saving over 18 years. Start now and you might be able to spare your kids the burden of student loan debt.
Marcela De Vivo is a freelance writer from California whose writing specializes in DIY, health, technology and marketing. Teaching her three children about the importance of recycling is both fun and simple with these craft ideas. Follow her on Twitter and Facebook today!