ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Saving Money for College - How You can Save as a Family

Updated on November 21, 2011

Saving Money for College

Many families that have children hope to be able to help send those children to college one day. There are things you can do as a family or as an individual as well, to help save for college. Make sure you don't get caught up in traps like, "we waited to long to start saving," etc. Its never to late to start making decisions that can add at least a little bit to college savings.

Start Saving Money Every Day

Even without extra money in your pockets to put away, start saving today by cutting expenses all around you. Get creative, and get down to business. Of course its ideal to start saving from say birth or kindergarten, but even if you have just a couple years or even one, still start now. Every little bit you save can be invested into a college fund even if its just a regular savings fund that you are calling a college fund. Never give up. Don't put too much stock into scholarships and and financial aid, as those can be variable and of course competitive. You have much more control over your own money.

You might be able to fill in a gap somewhere that is very much needed, that otherwise you would put off onto some loan only to pay interest on over time. Look at it like that every dollar you save, is one less dollar you have to borrow to go to college. You won't be paying interest on that dollar either, and its much simpler to "deal with." The value of a dollar goes far when you look at it like that.

Its actually a good practice to learn to live on less money, even as a family. Many parents understand this first hand that have sent kids to college. Suddenly life gets very "tight" financially, but its very much worth it! When you are learning to live on those kinds of sacrifices now, its much less difficult when the time comes that you must do so. Same thing goes for that college student!

Birds Eye view of beautiful Trinity College in Cambridge
Birds Eye view of beautiful Trinity College in Cambridge
Kids are growing up so fast, that its wise to start their saving for their college as soon as you can.
Kids are growing up so fast, that its wise to start their saving for their college as soon as you can.

Eliminate the Non Essential "Luxuries" in your life.

The idea of cutting out the non essentials in life is tough idea for some people, as they grow accustomed to living and buying things a certain way. We really sometimes spoil ourselves where we may not need to. It may be very hard to cut out going out to dinner once in a while, but what if there were other areas you could cut things out, and keep that dinner out? Its all for a worthy cause after all.

One way to check what you are doing with your money is to record things for a month, on paper or in a program on your computer. You may not realize what you spend in a certain category on things. Include everything from food, eating out, clothes, entertainment and anything else you can think of. Total it up, you may be surprised! Include ALL non essentials, to uncover where you can maybe save some of your money. You may be able to do this fairly painless depending on how your list turns out. This can turn out to save you a lot of money now, that you can put away for school or pay off debts you owe now that you are paying interest on.

For those in the family that might "balk" at cutting some things out, ask them what they suggest that could be good compromise perhaps that costs a lot less? Brainstorm together and even call a "family meeting" to discuss these things. They can actually be fun, and don't have to be a "nerdy" thing to do.


    0 of 8192 characters used
    Post Comment

    • oceansnsunsets profile imageAUTHOR


      7 years ago from The Midwest, USA

      Thanks for the visit and the comment. :)

    • PhoenixV profile image


      7 years ago from USA

      Great tips, thanks.


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)