Why #StartingisBelieving And How To Save On College Expenses
This is a sponsored post on behalf of Bloggin’ Mamas & the Florida Prepaid College Board. All opinions expressed are my own.
Raising children can be a scary thought. From the moment you see a positive pregnancy test to when they’re born, you’re bombarded with a number of expenses. Planning ahead has helped us not only prepare for becoming parents, but it’s allowed us the opportunity to get a better grip on things.
We knew moving to Florida would be great for our family because of what the state has to offer. We just didn’t know how good it would be until we started looking into the number of resources available to a growing family.
Now with a third child, we know it’s time to plan a strategy for college expenses.
Why Save In Advance The cost of living continues to increase. We should know, we purchased our first home last year and it’s been a blessing. Unfortunately, as much as we’d like to save, there’s always something we need to invest in to keep the roof over our heads.
My husband didn’t have it easy growing up and chose to take out student loans to get through college. Can you guess when we finished paying those off? If you guessed recently, then you’re correct.
Before we could qualify for a home loan, my husband needed to finish paying off his student loans. Fortunately, we had enough to pay it off and proceed with the purchase of our first home.
The idea of school loans has always scared me. My parents did their best to get my brothers and me through college without any help. It was the best thing they did for us and I’m forever grateful for their sacrifice. The stories I hear on social media from former classmates and their struggles to pay back student loans have a special place in my heart.
This isn’t something we want for our children to experience. As parents, we want the best for our children. Having experienced the headaches of student loans first-hand, we know that our children are worth the sacrifice today for a better tomorrow.
How To Save For College
Summer is the perfect time to put extra money away for college, especially with a little help from Florida Prepaid. Through June 30, if you open a tax-advantaged Florida 529 Savings Plan, they’ll seed your account with $25. Plus, set up automatic monthly contributions, and they’ll add another $25 as part of their 529 Summer Jump-Start Promotion.*
There is no age limit, you don’t have to be a Florida resident to purchase and the plan can be used nationwide; so it’s a flexible option for parents who don’t want to commit to a Florida Prepaid College Savings Plan yet OR it can be used in conjunction with a prepaid plan to cover other expenses outside of the tuition and fees. For a full savings vs prepaid comparison, visit myfloridaprepaid.com/faqs/savings-vs-prepaid-plans/
What is a 529 Savings Plan?
529 savings plans are named after section 529 of the Internal Revenue Code 26 U.S.C. § 529 and are designed to encourage saving for future higher education expenses of a designated beneficiary. Many states offer 529 savings plan options, including Florida Prepaid.
Money from a 529 plan can be used for tuition, fees, books, supplies and equipment required for study at any accredited college, university or vocational school in the United States and at some foreign universities. The money can also be used for room and board, as long as the fund beneficiary is at least a half-time student. Off-campus housing costs are covered up to the allowance for room and board that the college includes in its cost of attendance for federal financial-aid purposes. There is even an expansion that allows it to be used for K-12 educational expenses as well.
May 29 was National 529 day and Florida Prepaid is trying to increase awareness about college savings and the Florida 529 Savings Plan.
The Florida 529 Savings Plan – offered by Florida Prepaid
The Florida 529 Savings Plan has been recognized as a Top 10 performer among direct-sold 529 plans for 10-year investment performance in Savingforcollege.com’s latest quarterly performance rankings.
They carefully select each of the investment management firms and constantly monitor
The 529 Savings Plan has more than 62,000 active accounts with a market value of more than
The Florida 529 Savings Plan can be started at anytime and there’s no minimum deposit to open one. Even if you can’t save for your child’s entire college education, starting something is always better than doing nothing. The funds in a Florida 529 Savings Plan can be used for any qualified higher educational expense, including tuition, room & board, textbooks, graduate school and much more. This gives you extreme flexibility to use the funds as you see fit, for whatever your child may need. And should those needs change during his/her college years, individuals are free to adjust as well.
The Florida 529 Savings Plan offers you the ultimate in flexibility. Simply choose from the investment options, then contribute as much and as often as you’d like to suit your budget and goals. Each investment option, such as our popular age-based option that automatically allocates contributions based on the age of the child, is independently run by professional investment managers. There are 11 investment options let you invest in any way you feel comfortable. From more aggressive to more conservative options, and with age-based and fully customized approaches, you have as much control as you want over how much you invest and where it’s invested. And as the years go by, you’re free to change contribution amounts and how they are allocated at any time.
• Enroll in a new Florida 529 Savings Plan by June 30, 2018 on MyFloridaPrepaid.com, and you will earn a $25 contribution into your new college savings account.
• Set up automatic monthly contributions for your new account by June 30, 2018, for as little as $25 per month, and you will earn another $25 contribution into your account.
• This promotion is limited to the first 5,000 new accounts opened between May 29, 2018 and June 30, 2018.
• This offer only applies to new accounts opened between May 29, 2018 and June 30, 2018.
• Funds earned will be deposited directly into your Florida 529 Savings Plan account by August 30, 2018.
• The Florida 529 Savings Plan is an investment plan that may be used to set aside funds for future higher education and certain K-12 education expenses. Funds may be used tax-free to pay for any qualified higher education expense nationwide. Please review the Program Description and Participation Agreement for the Florida 529 Savings Plan for further details.
• The Florida Prepaid College Board will be the sponsor for all rewards.
• Sponsor reserves the right at its sole discretion to disqualify any individual it finds to be in violation of the Rules or any laws, or to be attempting to undermine the legitimate operation of the promotion by cheating, hacking, deception, or any other unfair practices.
• Details of the 529 Summer Jump-Start Promotion are at MyFloridaPrepaid.com/529JumpStart.
#StartingIsBelieving Twitter Chat
Join Bloggin Mamas & Florida Prepaid as we host the #StartingIsBelieving Twitter Chat on Thursday, 6/14/18 at 9p EST! Join us as we discuss (more info coming soon) (Plus, there will be some prizes too!)
NOPURCHASEORPAYMENTNECESSARY. A PURCHASEWILLNOTIMPROVEYOURCHANCEOFWINNING.
By RSVP’ing to this event and utilizing the #StartingIsBelieving hashtag, the attendees acknowledge having read and agreed to these terms and conditions.
Twitter Party Prize Giveaway begins June 14th, 2018 at 9:00 pm ET and ends no later than June 14th, 2018 at 10:30pm ET (the “Twitter Party Entry Period”). Entrants enter via following @FloridaPrepaid and @BlogginMamas, and posting a tweet with the #StartingIsBelieving hashtag during the Twitter Party Entry Period. Five (5) Winners will be drawn randomly by random.org at approximately 12 minute intervals during the Twitter Party Entry Period. One (1) Winner will be drawn randomly via random.org from the event RSVP’s on the Mr. Linky widget.
One (1) Florida Prepaid Prize Packs including items like a Slingpack or Backpack, water bottles, Frisbee, wristbands, and/or pencil pouches. ARV $75. Total approximate retail value (“ARV”) $75, for each of four (4) winners.
One (1) Florida Prepaid Prize Packs including items like a Slingpack or Backpack, umbrella, water bottles, Frisbee, wristbands, and/or pencil pouches. ARV $150. Total approximate retail value (“ARV”) $150, for one (1) winner.
One (1) Florida Prepaid Prize Packs including items like a Slingpack or Backpack, water bottles, Frisbee, wristbands, and/or pencil pouches. ARV $75. Total approximate retail value (“ARV”) $75, awarded to one (1) winner who RSVP’s via the Mr. Linky widget.
Each winner receives one (1) prize pack. Entrants who fail to complete said actions will be disqualified and an alternate winner will be selected from all entrants who entered during the Twitter Party Entry Period. Winners will be notified via DM (Direct Message) on Twitter with a request for an email address to send prize claim information. Winners will have 48 hours to complete the prize claim form or an alternate winner will be selected from amongst all entries received during the Twitter Party Entry Period. All prizes will be awarded provided they are validly claimed by June 18th, 2018 at 11:59AMEST.
Entrants agree to release and hold harmless the Bloggin’ Mamas, Heather Lopez Enterprises, LLC, Florida Prepaid, Moore Communications, Twitter, and any other organizations responsible for sponsoring, fulfilling, administering, advertising or promoting this giveaway, and their respective parent, subsidiaries, and affiliates and each of their respective officers, directors, members, employees, agents and subcontractors (collectively the “Released Parties”) from and against any and all claims, expenses, and liability, including but not limited to negligence and damages of any kind to persons and property, including but not limited to invasion of privacy (under appropriation, intrusion, public disclosure of private facts, false light in the public eye or other legal theory), defamation, slander, libel, violation of right of publicity, infringement of trademark, copyright or other intellectual property rights, property damage, or death or personal injury arising out of or relating to a participant’s entry, creation of an entry or submission of an entry, participation in this giveaway, acceptance or use or misuse of prize. Entrant agrees to indemnify, defend and hold harmless the Released Parties from and against any and all claims, expenses, and liabilities (including reasonable attorney’s fees) arising out of or relating to an entrant’s participation in this giveaway and/or entrant’s acceptance, use or misuse of prize, including, without limitation, liability for personal injury, damage, or loss.
The Released Parties make no warranties, and hereby disclaims any and all warranties, express or implied, concerning any prize furnished in connection with the giveaway.
WITHOUTLIMITINGTHE GENERALITYOFTHEFOREGOING, SUCHPRIZES ARE PROVIDED“AS IS” WITHOUT
WARRANTYOFANYKIND, EITHEREXPRESSORIMPLIED, ANDTHERELEASEDPARTIESHEREBY DISCLAIM ALL
SUCH WARRANTIES, INCLUDING BUTNOT LIMITEDTO, THEIMPLIEDWARRANTIESOF MERCHANT ABILITY,
FITNESSFOR A PARTICULAR PURPOSE AND/ORNON-INFRINGEMENT.
Disclosure: Bloggin’ Mamas is being compensated for managing this Twitter Party. Individual co-hosts are being compensated for their participation. All prize fulfillment is the responsibility of the sponsor.
Former B2B editor and marketer turned Family & Lifestyle blogger. Fatima is passionate about life and being social.
When she isn't running around with her husband, three kids, and two pups, Fatima helps other bloggers and local businesses with their online marketing strategy.
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