Can You Afford to Have Another Child? 8 Financial Questions to Consider

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Happy daughter and father playing indoors

College


The average annual cost for college has increased by 6.5% over the past decade. According to the Department of Education, the average cost per year at a public university for 2012 is $15,100, and $32,900 at a private college.

By the year 2030, one year of tuition could cost over $44,000 at a public school, with the total cost of a four-year degree totaling over $205,000. If you plan to add to your brood, consider setting up accounts now that will help you prepare for their future, such as a 529 savings plan.

Looking for more ways to shrink the college tab? Check out these 12 tips to help pay for college.

Next: Fun Money

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