When I was a young mother, I was always worried about how in the world was I going to be able to save for college for my kids. After all I was a single parent, barely scraping by. I started to read a lot of articles in parenting magazines about the subject even before my kids were born! There were a lot of columns giving advice about buying savings bonds, buying life insurance policies, and even pre-paying college expenses at the college that you want your child to attend!
The catch with the pre-payment plans were that if your kid didn’t want to go to that college you would not be able to get a refund. Well, that sounded like a really bad idea to me – especially since the college my parents wanted me to go to was really a secretarial school and not a college at all. If I refused to go to the school of my parent’s choice, why in the world would I think that my own kid would go to the college I wanted my kid to go to?
One of the more painless ways parents can save for college is by joining programs that give you rewards for signing up at a website and shopping with their affiliated partners. When you do that, a small portion of the money you spend go into a special savings account that you can spend later on college tuition. I did that for my kids; it didn’t save them a whole lot of money, but every penny helps!
