It may seem like unusual dinner table conversation. Talk to my kids about my savings? And the account I've established to help pay for their college expenses? We often avoid conversations about money with our children. But talking with them about the cost of college and how we're working towards saving on their behalf can be helpful. And it's beneficial to start those conversations even earlier than you might expect.
Meet Alison, a kid who understands that choices her parents are making today will be a great help for her future!
Aside from the nice benefit that saving for college brings - having money to pay for college costs - there are also many more intangible benefits to students and families. There is evidence that students who know their parents have a savings account that is designated for college internalize that knowledge and as a result perform better in school and have a greater chance of going to college.
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To see a wonderful piece of research on this topic go to mass529day.org and check out our 529 college savings quiz and the answer to the question: Can saving for college help your child achieve in school?
