What's the Best Way to Start Saving?
But while you can breathe a little easier, that doesn't mean you're completely off the hook: Financial planners advise socking away money for your child's education as soon as you can -- even if it's only $20 a month. To get started, open a college fund for each of your children. Having a dedicated account will put you in the mind-set of saving and will ensure that you have a place to add extra money that you might hope to see in the years ahead. (Think salary increases, gifts from Grandma, possibly even an inheritance.) "The sooner you start saving, the more time your funds will have to grow. And the more money you have, the more choices your child will have when it's time for him to head off to college," Munro says.