Anonymous
Post 08/20/2013 12:48     Subject: Re:Once daycare stopped - how much were you really able to contribute to college savings?

Here is what happened to us.

Child one in the infant room. Looked forward to the lower cost when he made it to the toddler room. They raised the rates. So, then when he went to the toddler room is was slightly less than the infant room- but not by much. Raised rates the next year, now bascically at prior infant room fees. When DC was ready to go to the preschooler area, second DC was born. They raised rates annualy-so every year the drop in tuition for moving to less expensive care area was offset by the increased tuition overall. So, by the time we got to SACC and summer camp costs, we were paying about 75% of what we paid for infant care. That 25% savings was eaten up by the DCs eating more and using more utilities.

The biggest drop in costs (but they never went away) cames when they went to MS, but then we had to decide if it was okay for DC to be home alone for 2-3 hours every afternoon- as middle school child gets home around 3. Middle School offered after school activities some days during theweek- late bus three days out of five- helped. Also, summer camp costs increase tremendously at this point. Braces happen at this point. We were lucky eldest does not need them, but youngest does. They also keep eating and eating and eating.

HS-home at 2:30, so more time home alone if they are not doing something after school. (for us, keeping them busy and on task worked best) They can walk home and don't have to wait for late bus. We saw some savings- but two years in- they start driving - so that soaks up some more $$ for insurance (count on it at least doubling and girls are now as expesnive as boys thanks to texting). We didn't opt for a third car, but many people do and tht costs more $$. Again, they still haven't stopped eating, but they can get a paying job or non-stipened internship to keep them out of trouble in the summer - so mostly camp costs are down (one or two weeks of sleep away interest camps).

If you want your child to play an instrument, they cost $ and sometimes, $$$. If they turn out to be decent, private lessons cost $$. If they turn out to be athletic, travel teams cost $$. Scouting has the best bang for the buck and it turns out working for change from within does indeed work (still a work in progress). Theatre can sometimes be costly- especially if it means theatre camp. There is a thriving business in tech camps- do your homework some cost big bucks and are worthless.

Start saving early and don't count on costs going down very much. If you are lucky enough to have "Camp Grammy", put the money you would have spent on camp into the college pot. If you are in VA, look into the pre-paid tuition plan. We think of it as bonds, in our portfolio.
If you still get raises, put them into the college pot.