Saving for a college education requires advanced planning and knowledge of what the cost of a college education will be when your student begins his college experience. You will first need to know how long it will be before your student sets foot on campus, what the cost of that education is today and how much the cost will increase between now and then. You will need to know how many years of college you will be paying for, which is dependent on the degree program being pursued. Once you have that information, you will be able to know how much you will need to save. Putting together a plan will depend on what you currently have saved, how much you can save each month and the rate of return you will receive on those savings.
Determining how much money you are worth is like having a personal balance sheet. On the asset side are things you own: homes, cars, investments and personal property. On the liability side are your debts: what you owe on your home mortgage, outstanding loans, and credit card balances. Over time, you want to be reducing your liabilities by paying down debt and building your assets by saving and allowing your assets to work for you by earning interest or building value.
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An extra layer of protection beyond a username and password that involves a second step in verifying your identity, such as through a text message with a temporary passcode, or a biometric factor like a fingerprint or facial scan.
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