May 2011

	Stay Educated School may be ending, but there’s still a lot to think about (and pay for). Whether you are just out of college, considering opening a college savings account for your young children or grandchildren or are busy planning a graduation party for a high school or college grad, be sure you are prepared financially. Small investments now can yield big returns for their futures. • Find out when you should start saving for your children or grandchildren’s education with this calculator. • Know what types of college savings plans are available when you’re ready to start putting away. Don’t let graduation celebrations break the bank. • Follow these money saving tips to throw a great party on a budget. • Pass on these smart ways for your grad to use their graduation gift money. Parents, make your college checklist now. • Clarify with your child what you’re each on the hook for in paying for these costs of college. • Help your child bank his or her money in a new city. • Know your responsibilities if you’re co-signing your child’s credit card or lease. • Find ways to cut down on sky-high tuition bills, tech and textbook needs and living expenses. Grads, prepare for the “real world.” • Start thinking about tackling your debt. • Carefully consider each facet of a job offer and its benefits. • Calculate your withholding so you maximize your paycheck. Community Q and A: Q: I lost my construction job, and it doesn't look like it is coming back soon. So, I am thinking of going to school, to learn some other trade. Is it possible to get loans for school, even when I am not working? I would like to learn computers better, and maybe get a desk job. — JorgeM A: Hi, JorgeM. Have you looked in to your local community college? They have lots of courses for computers, and can help find the funding for school, especially if you are out of work. Take a look here, or just go to your local one. Good luck to you! — RonZ				How much do most people spend on graduation gifts? • 53 percent say $20 to $40 • 27 percent say $40 to $60 More poll results>>   When did you (or when will you) start saving for your children’s college fund? View our poll>>   Do you need a spending reality check? Take the Reality Check Challenge and win back some of the money you’ve wasted.   Resource for College Students:   Share this: Tweet   SAM’s family of resources: Plan for retirement at myretirementpaycheck.org. Confess your bad spending habits at spendster.org. Make sure your kids are learning financial basics in high school and college.
Copyright © 2011, National Endowment for Financial Education. All rights reserved. Contact Us