I am a working mother of one son and one son in the oven and I wanted to know what are some ways I could start a college savings for my babies but I dont know where to start. Please help :)|||Check to see if your state sponsors a 529 plan. This allows you to put away money specifically for educational purposes. If you use if for educational purposes, the gains on it are tax free. And some states, like NC, allow a tax deduction on state taxes for the contributions up to a certain amount.
A couple of states, like Florida, have prepaid college programs too.
It would help to know what state you are in.|||Open a savings account (ING is good, they have good interest rates for every penny you put in) and start saving NOW! I am 23 and my parents did the best they could (with no savings from beforehand they paid three years of college but then I had to drop out b/c the economy hit us hard). Having a piggy bank of savings from the moment I was born could have helped me finish out college. You need to start immediately, every penny you can. It doesn't matter if you can't put in $20k each year, what matters is that you are saving. By the time college comes around, it will hopefully amount to a lot and will be a load off your back. There is financial aid that every student applies for so you might not need to pay every single penny of tuition but from what you save, it will help.
If you have a lot of money you can put in, you can also try a CD. If the kids aren't going to college for say, 10 years, the amount you put in now could be more than enough 10 years from now.|||How about opening a CD or savings account and making a small contribution weekly or monthly? Ask people to contribute to it at Christmas and birthdays and if you have a baby shower offer that as a gift idea if you have any sort of registry.|||i think any time the younger the better because if you start saving now or in a few years by the time they start college you will have a good amount
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