College Fund

With three young kids and a perpetual stack of bills, my wife and I are disappointed that we only have a few hundred dollars put away for our kids. This makes us feel very guilty. We have started college savings plans for them, but can't always contribute. Does anyone else feel like it will be impossible to set your kids up to go to college? Does it make you feel guilty?

Gosh - this brings the guilt up all over again. Yes! My little guy is 20 months but we have had some stretches of unemployment from either myself or dad and have not even started one for him. We really want to and then life just seems to get in the way!! A friend of mine who is an accountant told me to not fret about the amount but if you even put 10 dollars per paycheck in, it will eventually add up. I am starting a new job and I plan on setting up an account where they take the money automatically for me. I find that I really don't miss the money if I never see it!

This is such a stressful topic, even more so with the economy in the state that it is today. I think it's a great idea to put money away for college, but it's just not always possible. I want to offer some encouragement to parents that there are good grants, scholarships and loan options for students that want to go to college. -Jess

I find that even putting aside $25/month may come in handy once your children reach college years. If $25 is all you can afford now, you may be able to afford more in a few years. Keep reevaluating the situation and if you can put more money aside then great! You can get a 529 plan from your state and watch the money grow tax free! That is a nice perk. In the end, you may find yourself with several thousands of dollars which is better than nothing. If you can't afford a college plan, then try not to feel guilty, but put it on a short list of things to do once you are able! Good luck!

I totally support what MommyRN4 had say-a dime is a dime, and any little bit helps. -Jess

I guess I am glad that we all seem to be in the same boat! The bottom line is that you do what you can do. With higher education costs not affected by the recession at all, it would seem that once again the burden is on parents and their kids to take out enormous loans that they will pay off long into middle age. Thanks for the encouragement everyone... we can get through this together!