Set : Managing Your Money
Understanding the cost of college and all the factors that go into that cost is very important. But the cost of school doesn’t need to be the only factor to determine your next step in education.
"Learn more about managing your money.
Learning responsible financial skills early on can set you up for success in the future. Ask your parents for help with setting up a budget for your allowance so that you can get an idea of how to plan your money. Or, if you have a part time job, start setting aside some money.
Small things like this lead to good habits down the road—and will make you a more responsible and successful person in the future!
Saving for College
Saving isn't easy, but don’t be discouraged. The more you save, the less you will need to borrow for college. And the earlier you begin, the less you will need to set aside each month.
Your Savings Goal
To understand how much you will need to save, try this college savings calculator. It will help you estimate the cost of attending a college or university and then determine how much you will need to save to meet those costs. You don’t need to save the total cost. Your family may be able to help, and financial aid is available to those who need it.
Ways to Save
For more information about ways to save for college, talk with a qualified investment advisor or a representative at your local credit union or bank. They can tell you about saving for college using:
- College savings plans
- Federal savings bonds
- Stocks and mutual fund accounts, and more