What are your college saving plans for your munchkin(s)? Do you even have one?
In this house we started saving with the 1st monetary gift that she received. I don’t think the money is in the best place for long term educational savings so it is something that we still need to research.
I have found it quite interesting that a recent Sallie Mae Gallup study has found that: Families in the Northeast have saved the most with an average savings of $15,846 closely followed by the West with $15,589. The South has an average savings of $13,722 and the Midwest has the lowest with an average of $9,693.
What does geography have to do with savings? Does the percentage of college grad parents…or maybe…the cost of living impact the percentage of college saving accounts? I’m not sure.