As Americans are feeling the financial strain of higher costs and paychecks stretched thin, moms are experiencing the ever-challenging role of affording everyday essentials with tighter-than-ever.
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College is expensive: $35,720 per student, according to data from educationdata.org.
Many personal finance experts follow the airplane oxygen mask rule: Make sure your own finances are in order before saving for your children. Before you go all in saving for your child’s future college expenses, make sure it isn’t interfering with your own savings, retirement funding, and ability to pay down high-interest debt.