You started with a goal. You set up your NEST 529 Education Savings account and began making contributions toward your child’s future education. But somewhere along the way, your contribution habits may have stayed the same, even as your family’s needs and savings goals evolved.
Maybe you’ve been contributing the same amount for years. Maybe your child is getting older, and you’ve realized you want to set aside more for their education. Or maybe everyday expenses have made it difficult to contribute as much as you’d like.
If your contributions have stayed the same or slowed down, it doesn’t mean you need to completely rethink your finances. Sometimes, one small adjustment can help you get back into the habit of contributing toward your education savings goal.
TAKE A FRESH LOOK AT YOUR GOAL
Start by looking at where you are today, rather than where you thought you would be when you first opened the account.
How much are you currently saving? How much time do you have before your child may need the funds? Have their education plans — or your expectations for what you’d like to help cover — changed? To help answer these questions, NEST 529 Education Savings offers the College Savings Calculator, a tool that lets you create your own savings report based on your family’s situation. You can see the total projected cost and the estimated monthly contribution you’ll need to reach it.
Your original goal doesn’t have to stay the same forever. In fact, regularly reviewing your plan can help keep your savings aligned with your family’s needs as your child gets closer to college, trade school, technical college, or another education path.
FIND ONE SMALL WAY TO SAVE MORE
Getting past a plateau doesn’t necessarily require a major increase. Look for a manageable adjustment that fits your budget.
If you make automatic contributions, consider increasing them by a small amount. You could put a portion of a raise, bonus or tax refund toward your account, or make an occasional one-time contribution when your budget allows. NEST 529 Education Savings allows account owners to adjust recurring contributions and make one-time deposits, giving you flexibility to change how you save over time.
The goal isn’t to make up the difference overnight. It’s simply to choose one manageable action that can help you increase or restart your contributions and build from there.
TURN CELEBRATIONS INTO CONTRIBUTION OPPORTUNITIES
Birthdays, holidays, graduations, and other milestones can also create opportunities to build education savings.
Consider letting grandparents, relatives, and friends know that contributing to your child’s education can be an alternative or addition to traditional gifts. A few contributions throughout the year may not seem significant individually, but together they can help add to the progress you’re already making.
Want to let your loved ones know that your family is ready to receive a gift that supports your child’s education journey? Learn more about NEST GiftED and see how easy it is to contribute to a loved one’s future.
IF YOU NEED TO PAUSE, DON’T GIVE UP
Sometimes the challenge isn’t increasing your contribution but continuing to contribute at all.
If other expenses take priority, reducing or temporarily pausing contributions doesn’t erase the progress you’ve already made. NEST 529 account contributions can be adjusted as your needs change, including scaling back and revisiting your contribution amount later.
When your budget has more room, return to your plan and decide what feels manageable.
KEEP MOVING FORWARD
Rather than waiting until your contribution habits feel stuck again, make reviewing your NEST 529 account part of your annual routine. Ask yourself: Is my family’s goal still realistic? Has my child’s education path changed? Could I increase my contribution even slightly? Are there opportunities for family gifting this year?
Saving for future education expenses is a long-term effort, and your ability to contribute may change over time. Whether you’ve maintained the same contribution amount for years or need to adjust your savings habits, revisiting your goals can help you decide your next step.
Learn more about your NEST 529 account contribution options.