Thursday, December 8, 2011

How important is it to save for kids education?

I have had medical problems in the last year and have racked up a lot of debt due to missing work I am debating over cashing in kids college savings to pay off some debt because we cannot keep up with credit card payments. What should I do?|||You have to get through today before you can afford tomorrow. Create a budget and cut out all unnecessary expenses. Find out the tax implications to cashing out the education fund, but it's probably the best option. If the debts go into collections, they can sue you and probably take the college fund. After you're through this rough time, you can build the education fund back up and the kids can work for scholarships, grants and loans to pay for school.

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