College is expensive, and the costs aren't headed down. If you or your children plan to attend a university, it's never too soon to begin putting money away. College savings accounts vary in nature, but each one is a regular deposit plan that helps you keep up with savings goals. Opening a savings account requires a little shopping around, but it's a straightforward, rewarding process.
Instructions
1. Make a decision about the type of college savings plan that works best for you. Many people choose regular savings accounts, but others invest their monthly savings into bonds or other returnable investments.
2. Browse local banks and savings programs online, and speak with bank representatives. This gives you a good idea of the rewards that are available to consumers. As an example, Citizens Bank offers a $1,000 bonus for college savings accounts, if you meet certain conditions.
3. Sign up for a college savings plan. Talk with a bank representative in detail about all the necessary paperwork, and the terms and conditions of the savings plan. You should be comfortable and confident in your arrangements.
4. Work with the bank to meet your account requirements, by setting aside a certain amount of money each month. If you find a great account and stay with the terms, your rewards will follow.
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