Planning for your child’s future is one of the most meaningful investments you can make. College costs continue to rise each year, and preparing early can help reduce financial stress down the road. While scholarships, grants and financial aid can help, having college savings in place gives you and your child more flexibility when the time comes. Here are some smart strategies to start saving for your child’s college education.

Start Early and Be Consistent

Time is one of the biggest advantages when saving for college. Even small amounts add up over time. For example, if you save $50 a month from the time your child is born, after 18 years, you’ll have $10,800, and that’s not even including the interest you could potentially earn.

Automate Your Savings

One of the simplest ways to build consistency is through automation. Treat your college savings like any other bill by scheduling automatic transfers each month. When the money moves directly from your checking account into savings, you’re less likely to spend it elsewhere. Automating also helps you stay disciplined during busy or stressful times.

Set Clear Goals and Track Progress

Saving is easier when you have a target in mind. Estimate future college costs, then break them down into manageable monthly or yearly savings goals. For example, if you’d like to save $20,000 by the time your child is 18, you can calculate how much to save each month and track your progress along the way. Watching your savings grow can also motivate you to stay on track.

You can use online financial management tools like My Financial Partner to help you set savings goals and track your progress.

Use Unexpected Income Wisely

Unexpected income, such as tax refunds, bonuses or birthday gifts for your child, can provide a boost to your savings. Instead of spending all of these extra sources of income, consider saving a portion to your child’s college fund. Even small contributions from these one-time sources can make a noticeable impact over the years.

Encourage Family Contributions

Birthdays, holidays and other special occasions are perfect opportunities to grow your child’s college fund. Instead of traditional gifts, consider asking relatives to contribute to your child’s college savings. Over the years, these contributions can make a significant difference.

Cut Back on Everyday Expenses

Another smart habit is redirecting savings from daily spending into a college fund. Small changes like cooking more meals at home, limiting subscription services or shopping sales can free up extra money. For example, saving just $25 a week by making coffee at home instead of buying it adds up to $1,300 a year for your child’s education.

Celebrate Milestones Along the Way

Saving for college is a long journey, so celebrate progress to stay motivated. Whether you reach your first $1,000 or your halfway goal, recognizing achievements makes the process feel rewarding and keeps you committed.

The key to preparing for your child’s college education is all about building the right habits. By starting early, saving consistently, setting clear goals and involving your child, you can make higher education more affordable and less stressful.