Here are some ways to start planning for your family’s financial future:
Start a college fund: College may seem far away but it is a huge expense that can creep up on you. Start saving now, the sooner the better. Even as little as $100 a month will add up. Open a 529 college savings plan to use specifically for college expenses.
Buy life insurance: Life insurance gives your family a peace of mind. and the ability to afford the expense of final care and burial. The death benefit will provide financial security for those family members who are left behind.
Have a will: When a person dies without a will, the state decides who gets what, without regard to the deceased wishes or their heirs’ needs. Creating a will that spells out one’s wishes protects their family’s financial future.