Saving for your child’s college education may feel overwhelming. Let’s step back and focus on the basics. Carl Richards of the New York Times has some ideas on where to start.

Create a Financial Balance Sheet.

You’ve got to know your starting point. Make a list of all incoming cash, regular expenses, and debt. Once you know where you stand you can assess if it is more
beneficial to get your debts down or see what can be pulled aside for college savings. You can also see where you can make cutbacks in other parts of your budget.

What Will College Cost?

Universities have their current tuitions posted online. Look at a few different types of schools in different price ranges. Take that and adjust for inflation. If typical room and board costs aren’t online, call a college and speak to a financial aid advisor for any recommendations she might have. There is also this college cost calculator.

For more advice including where to put the money you are saving, visit
New York Times’ 3 Basics of a College Financial Plan.