I know a lot of people are making resolutions right now, and college savings are top-of-mind when we're thinking about responsible financial planning.
This cute college savings jar can sit on a shelf and serve as a visible reminder of your commitment to save!
College Savings Jar Craft
For this college savings jar craft, you'll need a glue stick, two $1 bills, cardboard, a mason jar with lid, a button and a tassel.
Measure the cardboard out to the size of two dollar bills, placed side-by-side. I could come up with specific measurements here, but…no. Just eyeball it.
Glue the dollar bills onto the top of the cardboard and then glue the lid onto the bottom of the cardboard.
Glue the button and tassel over the dollar bills.
Finally, shove all your extra cash in there and beam with pride at your savvy savings. Look at you, Captain Moneybags! This would also make an excellent gift for a high school grad or any teen or child who is serious about college.A super-easy 'grad hat' college savings jar. This would be a great way to gift money to a teen!Click To Tweet
We’re still working with ScholarShare, and I highly recommend you take all the money collected and open up a 529 college savings account with them. Your money can grow tax-free to be used for a huge variety of college expenses including qualified room and board, AND it can be designated for another family member if someone opts out of higher education. If relatives want to help with college, 529 plans offer even more tax advantages by allowing them to gift up to five times the federal gift tax exclusion (for a total of $70,000 in a single year). Our 529 plans for the boys were the first investments we ever started, and I was astonished to see that money growing and growing. Compound interest is an amazing thing, man!
Have you made college savings a priority for your family?