Five Tips to FIND Money for College Savings

When thinking of savings, most people think in order to save they need a large lump sum of money to get started or large monthly contributions into a savings account in order to start or maintain a savings account. This is especially true when the goal you are trying to reach is a large number, such as enough money to pay for college. The key to continuing to save is to put away the money you do not need for essentials.

Deposits, both large and small are essential to reaching your goal. Many parents still need financial assistance after years of saving for their child’s college tuition.

Here are some items that may save a few bucks to drop into the tuition bucket.

1. No Latte please

For the caffeine lovers that indulge in Starbucks, Dunkin Donuts, etc. for your favorite caffeinated drink. A suggestion would be to buy a bag of Starbucks, Dunkin Donuts coffee or your favorite and brew it yourself. For instance, if you are spending $4 a day on coffee; If you are working a 5 day work week that equals $20 a week and approximately $100 a month.

2. Brown Sack Lunch

Many of us prefer to go out and buy lunch during the work week, instead of taking your lunch to work from home. The average lunch price starts around $5 (fast food) and average nearly $10 a lunch. At a minimum of one day a week for a brown sack lunch can equal $20 – 40 or more.

3. Coupon Clipping

If you are a coupon clipper, bargain hunter etc. this tip is great for you. At most stores on the bottom of the receipt the store/company will highlight the money you have saved. Each time you have saved money, place the amount you saved into your college savings account.

4. DIY (Do It Yourself)

All women love the salon, spa and being pampered so the idea of cutting back or missing services are usually unthinkable and in many places people are stoned for suggesting such foolery but I promise this time it is permissible. Many of us can find small services to decrease the frequency or skip. Services such as manicures, waxing and finger nail polish changes are all around $10 (+/-) These services are all easily done at home by you. DIY for one week out of the month can give you $10 a month, $120 a year.

5. Date Nite

Instead of dining out on date night once a month choose to stay in and prepare a romantic dinner, instead of dining out. The key for this suggestion to work is to make date nite-in as special as it would be as if it were date nite out on the town.