My Savings Story: Sleva Family
In April 2015, CollegeAdvantage celebrated its 25th anniversary. In honor of this milestone, many longtime account owners shared their Saving Stories and how using CollegeAdvantage helped them achieve their goals. We are fortunate to have these encouraging stories of how families prioritized their children’s higher education and are sharing them again.
I have been a methodical college saver. Long ago, my father-in-law gave me some good advice. He said to put something away each month, no matter how small, and it would grow and grow. So my wife and I began saving for our children’s college fund when they were very young. We started small, and just automatically put money aside, every month.
Then I heard about CollegeAdvantage (initially from a radio ad, and then from a financial advisor). So I looked into it. My daughter was in college already and my son would be starting just four years later, so I had plenty of motivation to take advantage of the CollegeAdvantage program. I started putting money into our CollegeAdvantage account in 2008. After researching the costs of college, we decided the best strategy was to divide the lump sum of what we would still need into monthly contribution amounts. That way, we knew the same amount was coming out of our checking account and going straight into our CollegeAdvantage account, before we could spend it elsewhere.
As a result, we were fortunate enough to be able to pay for all of the college expenses for both kids, using our CollegeAdvantage account. Also, we were able to pay for an entire semester using only the interest earnings on our investment options!
This article was last published on June 1, 2015.
Posted on June 14, 2016