When saving for college, compound interest can be your friend. The sooner you start the better prepared you are to pay for the rising cost of college education. Let’s face it you may think your child will score a scholarship but chances are you’ll still need to cover additional expenses. It’s smart to start saving for your child’s college education as soon as possible.
The longer you wait to start saving the less interest you will accumulate and the more you will have to save to make up for lost of time. Use the power of compound interest and start saving the minute you hear the great news you’re having a kid.