New parents aren’t typically the ones reading this blog. So if you have a friend, coworker, neighbor or any other acquaintance with a new baby in the house (or one on the way), please pass along this public service announcement about saving for college.
Saving $50 a month (with a 7% return on investment) from the day a child is born will amount to about $20,000 by the time that kid applies to college. Saving $200 a month would add up to almost $80,000. (Source: http://www.finaid.org/savings/) Start now.
Like so much of financial planning, the best college financing asset a family can have is time. If you know someone who could avail themselves of that asset, help a new parent out and share the information.