Disclosure: This post is sponsored by the Florida Prepaid College Savings Plan, through my role as a Believer Blogger. All thoughts are my own.
Summer is looking a little different this year in the midst of the pandemic. Beach days have been replaced with back yard days. Time we used to spend shopping at the mall has been replaced with spending time planting a garden. Date nights to the theater have been replaced with making s’mores over the backyard fire pit.
In the grand scheme of things, these are all small changes… but they have made a big difference in many ways. Life seems calmer, quieter. And we have learned to really value so many of the things we took for granted. We know that life will return to “normal” eventually, but we have all resolved to keep many of these “changes” more permanent as we are seeing benefits from even the smallest acts.
That is one thing about life that has remained the same. Small changes consistently over time leads to big results. Whether you are trying to lose weight, pay off debt, save for a new home, or save for college, small steps over time is the best way to achieve your goals.
Even with the uncertainty of what tomorrow may bring, we are finding comfort in knowing that the more distant future is looking bright. This year our “baby” is heading in to high school, which means in just a few years the college admissions dance will begin all over again. We are starting to make some “small changes” to get ready to go back to school and ultimately for her to go off to college in a few years.
Starting a Florida 529 Savings Plan is another small change you can make today to lead to big results for the future. A 529 Savings Plan is easy to set up, and you can contribute as much or as little as you want. Family and friends can even contribute through the eGift portal.
A 529 Savings Plan is an investment account that provides a flexible and tax free savings option that can be used for college and/or k-12 expenses. As long as the investment earnings are used for qualified education expenses such as tuition, fees, room, board, books and supplies, they are exempt from being taxed.
Even if you already have a Florida Prepaid Plan, a 529 Savings Plan can be used for costs not covered by the Prepaid Plan - like books and supplies or even computers and equipment. Your 529 Savings Plan can be used at most higher education institutions nationwide and there is no set time frame for using your plan.
With a Florida 529 Savings Plan, your family can choose when and how much to contribute to fit you budget and savings goals. There is even an online gifting portal to invite family and friends to contribute to a child’s college education in lieu of more traditional birthday and holiday gifts.
Florida Prepaid is hosting a free webinar to explain the features of the 529 Savings Plan on Thursday, July 23rd at 12:00pm EST. In this super quick webinar you can learn how as little as $25 a month can add up quickly and make a significant difference by the time your child is ready to attend college. You can register for this free webinar here: https://bit.ly/31BUGKz