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Personal Finance > Budgets & Saving Determining your contribution to your kids' college fund: 3 of 3

Thinking of saving for your child's college fund? Follow the 10-50 rule of thumb. Save 10 percent of your paycheck per child. If circumstances prevent you from saving 10 percent, save at least $50 per month per child. The 10-50 rule allows you to reach what financial advisors calculate as a healthy balance to pay for your child's college expense. This calculated balance is based on another rule of thumb: the one-third rule. One-third of a child's college expense comes from your savings. Another third comes from current income while the rest comes from student loans. The key is deciding whe...
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