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Let's face it, having kids is NOT cheap. There's the cost of everything from diapers, formula and wipes to food, medicine, clothes and toys. According to a survey on BabyCenter.com, Moms report they pay approximately $10,000 for the upkeep of their baby in just the first year alone, that doesn't even cover the next 17 years, which will cost you about $235,000 according to a CNN.com article.
The cost of a good education for a child born in 2011, will be $47,000 according to the article... My brain can not even fathom how to save $47,000 in the next 15 years. We are a one income family and even saving Christmas money can be a bit daunting some years. That's why I'm glad I found out about a service called Grad Save! I think this will be a great help to anyone who has a need to save for their kid's college education.
Grad Save is an online registry which can be linked to any 529 plan or already established savings fund. Grad Save makes it easy for parents to share their child's profile with family and friends, so they can gift directly to the child's college education with one simple click.
Getting started is easy as 1-2-3. Simply register with Grad Save, Make a profile, share your profile with friends and family and that's it. The contributions will be added to your Grad Save account to be used when your child needs them. You can get detailed info HERE.
Grad Save also offers gift cards. You can give these for Christmas, Birthdays or even for accomplishments, such as straight A's.
Grad Save is currently running a sweepstakes where one lucky winner will receive..... (1) Grand Prize Scholarship
that will be payable, at the option of the winner, either as (i) a
deposit of $1,000 per year for the next 10 years into a child’s college
savings fund ($10,000), or (ii) an up front payout of $4,000, which
represents the present value of an investment in a college savings fund
for a 1 year old with withdrawals starting at age 17 and a 6% compounded
annual rate of return on such investment (This just shows you how a
college savings fund grows…); provided that, if the winner is a resident
of the State of Florida or the State of New York, such winner must
select the upfront payment of $4,000. IN
THE CASE OF A SINGLE PAYOUT OPTION (I.E., OPTION (II) ABOVE), ACTUAL
FUTURE VALUE OF SCHOLARSHIP MAY VARY BASED ON THE RETURN RATES OF YOUR
PARTICULAR COLLEGE SAVINGS FUND AND/OR THE AGE OF CHILD.
Disclaimer: This is a sponsored post and may contain affiliate links.
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