Resolve to Save More in 2024: How Future Scholar Can Help
For most of us, making New Year’s resolutions is a pretty iffy proposition. Even though we may have the best of intentions, studies show that 80 to 90 percent of us just can’t seem to follow through with keeping them.
But there’s one resolution that will be easy to keep. Future Scholar makes it simple to set your college savings goals and reach them. This month, in just a few minutes, you can be on your way to having a stand-out year.
Meet your savings goal with automated contributions
Once you’ve determined how much you want to save, Future Scholar’s automated contribution feature will help you save consistently. You’ll have complete control over the timing and the frequency. Perhaps you’ll choose to schedule your contribution to coincide with paychecks and adjust the amount if your plans change. With automated contributions in place, you move toward reaching your goal without even having to think about your resolution. Nothing could be easier!
Maximize your 529 tax advantages
As you look toward filing your 2023 tax returns, consider how an extra contribution to your Future Scholar account can help you save twice. Saving with Future Scholar is twice as nice because any contribution you make before the April tax deadline can be deducted from your state income taxes. And those tax advantages aren’t limited to you. Grandparents and others who contribute to your child’s Future Scholar 529 College Savings Plan can also take a dollar-for-dollar deduction on their South Carolina income tax returns. Just be sure to indicate that your contribution is for 2023 when you make it online.
Set up your 2024 gifting plan
Gifts from family and friends are a great way to help your child build college savings. Now is a good time to look ahead to special occasions and see how Future Scholar’s eGift can help your loved ones support you in reaching your savings goal. Of course, Christmas is a popular time for Future Scholar gifting, but there are opportunities throughout the year—including birthdays, graduations, baby showers, and other holidays. Simply fill in the address book in your account and use eGift to make it easy for your circle of loved ones to give the gift of college savings.
Our 2024 Resolution: Let’s reach your goal
A solid college savings plan doesn’t have to be complicated or overwhelming. It’s as simple as setting a goal and creating a contribution plan to get you there. You’ll feel good knowing every dollar you save is one your child won’t have to borrow for higher education. Get started today, and you’ll be on your way to making 2024 your best year of savings yet!