Start saving for Graduation - but not for college tuition!

Don't let the title scare you. YES you should be saving for your child's child college as early as birth.

However, tonight my cousin graduates from high school. We are so close I call her my niece. It has made me realize that I should open a savings account and put a restriction on it that it cannot be accessed until January of 2021. Until then I should deposit $20 a month. That would make the account balance roughly $3,800 (if my math is correct).

Here is the breakdown!

Dress or Tux for Senior Prom  = $100-$200
Flowers = $20
Limo for Prom = Starting at $500

Senior Pictures = $100 (IF you are lucky and get my pricing!)

Annual =  $50

Senior Announcements =  $100

Graduation Cap & Gown = $50
Extra Graduation Tickets = $100
Graduation Gift = Could be $100's or MORE!
Graduation Party = $500 or more

So that is around $ 2,120
That is IF prices do not rise and I have not forgotten anything.

Geez that could put someone out of a mortgage payment!

So my advice, start saving $20 a month in an account you cannot touch until the January before your child graduates so the hit will not be SO hard, and who knows maybe you will have some left over for "empty nest therapy!"