Paying for a child’s college education is one of the biggest expenses that parents will face in their lifetime, other than perhaps buying a home. Because of this, parents should take action early on and begin planning and saving when their children are newborns in order to make the most of their savings as well as eliminate any excess financial burdens from waiting until the last minute. There is a time scale of planning that parent’s should follow from 15 years until college until the day of college. This plan is very helpful and should be followed if at all possible.
When there are 15 years or more until college, then parents should open an Education IRA to save for their children’s college. This IRA has special restrictions and rules, so it is best to talk to your banking representative about the implications involved in this type of account. Also, when there are 15 years or more until college you may consider investing in some more aggressive
I had to laugh...
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<div class="field-item"><p>I stopped for gas today at a Shell gas station and had to chuckle as I filled up my car.</p><p>A sign on top of the pump urged me to sign up for a Citi Mastercard that gives 10 percent back on all Shell gas purchases. On the sign, in big, black type, the sign says "Earn 38 cents/gallon." Then underneath it in much smaller print, the sign says, "@ $3.82/gallon."</p></div>
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And in more restaurant news...
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<div class="field-item"><p>Raleigh's Rocky Top Hospitality has reopened its Michael Dean's and Bogart's restaurants for lunch service during December. Both had gone to evening-only hours this past summer. Michael Dean's on Falls of Neuse Road in Raleigh is open for lunch through Dec. 24. Bogart's on Glenwood South will be open for lunch through the 19th. Both are serving from 11:30 a.m. to 2:30 p.m. daily.</p></div>
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Urban Food Group expanding to Charlotte...
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<div class="field-item"><p>Raleigh's Urban Food Group is expanding to the Queen City. The company behind Porters, Frazier's, Vivace and the newly opened Coquette in North Hills is planning a new Vivace location at 1100 Metropolitan Ave. The restaurant will open in the summer.</p></div>
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Save on flowers...
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<div class="field-item"><p>If you need to send flowers this week, 1-800-FLOWERS is offering free shipping or no service charge when you pay with a MasterCard and use the promotion code M33. But the offer is only good through Sunday.</p></div>
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OpenTable for iPhones...
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<div class="field-item"><p><img src="/sites/projects.newsobserver.com/files/images/iphone3sm.thumbnail.jpg" alt="" hspace="7" vspace="7" width="83" height="100" align="left" />If you use the OpenTable Web site to make restaurant reservations, you might be intested to know that there's now a free OpenTable app for iPhone users.</p><p>The system will allow users to check real-time availability in restaurants, make reservations and get directions. Find out more on the OpenTable Web site <a href="http://www.opentable.com/mobile/">here</a>.</p></div>
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Walgreens prescription coupon...
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<div class="field-item"><p>If you missed the coupon that ran in the paper a few weeks ago, Walgreens has put its new prescription transfer coupon online as well. The deal is that you get a $25 Walgreens gift card when you transfer your prescription to a Walgreens pharmacy. These coupons can be a great way to get a little extra if you have a monthly prescription that you fill. However, I always caution people that this is not a good strategy if you take several medications that could have weird interactions. Fair warning. You can find the printable coupon <a href="http://walgreens.shoplocal.com/walgreens/Default.aspx?action=detailbrowselarge&storeid=2504303&title=$25+Walgreens+Gift+Card+&img=http://akimages.crossmediaservices.com/dyn_li/600.0.90.0/Retailers/Walgreens/081012_01DD_1CPN.JPG" target="_blank">here</a>.</p></div>
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Tree lighting in Clayton...
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<div class="field-item"><p>In Clayton, the Christmas Village & Tree Lighting is happening tomorrow (Thursday), beginning at 6 p.m. The tree lighting will take place just before 9. If you are interested in going, there's a schedule of events <a href="http://downtownclayton.blogspot.com/2008/12/2008-christmas-village-tree-lighting.html" target="_blank">here</a> and a map <a href="http://downtownclayton.blogspot.com/2008/12/map-of-christmas-village-tree-lighting.html" target="_blank">here</a>. And, if you happen to live in the area, you should know that Main Street will be closed from Smith Street to O'Neil Street between 5:30 p.m. to 9:30 p.m. for the event.</p></div>
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How's this for a BOGO deal?
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<div class="field-item"><p>Buy one get one free deals are usually pretty good bargains, but most of the time they're on things like cans of soup. It's time to think much bigger.</p><p>Florida car dealers, who have seen sales plummet this year, have taken to offering BOGO deals on vehicles. Seriously! <a href="http://blogs.moneycentral.msn.com/smartspending/archive/2008/07/29/buy-a-gas-guzzler-get-a-second-car-for-free.aspx" target="_blank">MSN reports</a> on one Chevy dealer offering a free gas-efficient vehicle when you buy a SUV or truck. And check out <a href="http://www.universitydodge.com/specials/index.htm" target="_blank">this ad</a> from a Dodge dealer offering a BOGO deal on Dodge trucks. Feel free to place your bets on what the next big BOGO deal will be. Jet planes? McMansions? </p></div>
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Here's the deal...
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<div class="field-item"><p>If you are a fan of this blog, here's something that may interest you... The News & Observer has started a weekly e-newsletter for women called <strong>Here's the Deal</strong> that compiles information from Taking Stock as well as other N&O blogs. In the newsletter, which is e-mailed Wednesday mornings after Wednesday Deals is posted, you'll find information on deals, fashion, food and more. And as you all are well aware, it pays to be in the know!</p><p>You must be a registered user on newsobserver.com to get Here's the Deal. <a href="http://www.newsobserver.com/heresthedeal/" target="_blank">You can sign up here</a>.</p></div>
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Know an outdoorsman (or woman)?
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<div class="field-item"><p>Outdoor superstore Cabela's is offering $20 off orders of $100 or more on its Web site through midnight on Dec. 8 (Monday). Of course, there's always a catch. To get the deal, you need to give up your e-mail address. And by entering your e-mail, you will be signing up for the Cabela's e-newsletter. But it's still a good deal and probably worth it, especially if you are shopping for an outdoorsman or woman. <a href="http://information.cabelas.com/cabelasrebates/offer.jsp?cmCat=email&cm_cat=3964&cm_ven=email-nl&cm_pla=HA-0100&cm_ite=offer.jsp&eid=8451667&cmp=I081203A&seg=AN1&cnt=3964&ctb=offer" target="_blank">Check out the details here</a>.</p></div>
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Wednesday deals...
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<p><img src="/sites/projects.newsobserver.com/files/images/coupon%20cart-sm.jpg" alt="" hspace="7" vspace="7" width="106" height="160" align="left" />Well, it?s a mighty fine deals week out there! The pharmacies are busy promoting holiday sales, and Harris Teeter has gone all out to promote its latest initiative involving lower prices on several store brand products and an expanded Unreal Deals selection. There are good deals this week on razors, candy and medications, and there are a few good ones that make the item free after rebate or coupon or both.<br /> <br /> And don?t miss the special Walgreens flier in today?s paper, which has a coupon to get $5 in Register Rewards (good like a $5 bill on a future Walgreens purchase) when you spend $25.<br /> <br /> Happy shopping!!<br /> <strong><br /> Deal of the week</strong>: At Harris Teeter this week, Fiber One toaster pastries are three for $5 and there was a 70-cent coupon on Nov. 16. That will double and make those 27 cents a box.<br /> <br /> Click ?Read more? to see the list! And remember, if the store has a loyalty card, you?ll need it to get the sale price. </p> <div class="node-blog-teaser-footer">
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Galleries staying open late...
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<div class="field-item"><p>If you're a fan of Raleigh's First Friday events, you'll be happy to know that 10 downtown art galleries have declared every Friday in December First Friday and are planning to stay open late for shoppers. Dates include Dec. 5, 12 and 19.</p><p>Most galleries will be open until 9 p.m. Participating galleries include:<br /><br /><strong>Adam Cave Fine Art</strong> - (<a href="http://www.adamcavefineart.com" target="_blank">Web site</a>)<br /><strong>Artspace</strong> - (<a href="http://www.artspacenc.org" target="_blank">Web site</a>)<br /><strong>The Collectors Gallery</strong> - (<a href="http://www.thecollectorsgallery.com" target="_blank">Web site</a>)<br /><strong>Flanders 311</strong> - (<a href="http://www.flandersartgallery.com" target="_blank">Web site</a>)<br /><strong>Lee Hansley Gallery</strong> - (<a href="http://www.leehansleygallery.com" target="_blank">Web site)</a><br /><strong>Lump</strong> - (<a href="http://www.lumpgallery.com" target="_blank">Web site</a>)<br /><strong>M Street Gallery - (<a href="http://www.mstreetgallery.net" target="_blank">Web site</a>)<br />Nicole's Studio & Gallery</strong> - (<a href="http://www.nicolestudio.com" target="_blank">Web site</a>)<br /><strong>Rebus Works</strong> - (<a href="http://www.rebusworks.us" target="_blank">Web site</a>)<br /><strong>Visual Art Exchange</strong> - (<a href="http://www.visualartexchange.org" target="_blank">Web site</a>)</p></div>
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What are people searching for?
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<div class="field-item"><p>Google has created a fun Web site that shows what the top 10 searches are in certain categories, including toys, food and cold weather clothes. I totally enjoy the fact that "ugly christmas sweater" made the list. You can <a href="http://www.google.com/landing/holidayshopping08/gifts.html" target="_blank">check it out here</a>. </p></div>
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Saving online...
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<div class="field-item"><p>If you like surfing the Web for online coupon codes, you might like <a href="http://www.nytimes.com/2008/11/27/technology/internet/27coupon.html?_r=1&adxnnl=1&emc=eta1&adxnnlx=1228238295-1lXLq8ojvpQ7iAzAS68uBA" target="_blank">this New York Times story</a> on the topic. The story lists several Web sites, including a few of my favorites. Share your favorites if they're not included! </p></div>
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Cashing in your points...
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<div class="field-item"><p>I got an interesting press release this weekend from American Express about how more consumers are using their credit card rewards points for holiday purchases this year. I'm particularly interested in this because I've found a lot of people will just sit on piles and piles of points because they don't know how to redeem them or they are waiting to make some huge purchase in the future.</p><p>What are you doing? Have you redeemed points this year, and what did you buy? Or, are you saving up 10,000 points for some big-ticket item? </p></div>
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funds. Aggressive investments should be reserved for this time period only because as the time for college nears you will want to ensure that the money is carefully guarded and not at risk.
When there are 10-15 years until college parents should start looking into prepaid college tuition plans. More and more colleges are offering this type of plan because the cost of tuition is rising exorbitantly and colleges want to offer parents an option for paying college expenses over a longer period of time. If you are not interested in this, then you could simply look into different savings plans supported by your state. This is a great help to many parents and should not be overlooked. In addition to this, during this time period you will want to ensure that any risky or aggressive investments are transferred to more conservative and secure investments.
When college is only five years away, you will want to make sure your investments correspond to the cost of college and that everything is stable and on the right track. If this is not the case, then you can either begin saving more aggressively during this time or rely on student loans to get your child through college.
When your child begins college if you realize you can pay for some of his or her education, but not all, then take out parent or student loans to make up the rest. However, take out the least amount of money in loans as possible. Although student loan interest rates are low, you will not want to be in more debt than necessary.
Finally, make sure you begin saving early and more than likely you will be able to meet your child’s education needs with little or no extra support like loans.
Robert Michael is a writer for lacon college which is an excellent place to find college links, resources and articles. For more information go to: http://www.laconcollege.com
