Connect with the Investor Mama Tribe

Looking for ways to boost your income? Check out these resources to help you with your money journey

Key Take Aways

1. Sign Up for Upromise.com — Start Before Birth

What it is: A free service that automatically deposits a portion of your everyday purchases (Target, Walgreens, grocery stores, 1-800-PetMeds, and more) into a 529 college savings plan. Family members — even childless uncles — can participate and direct funds to your child.

Action step: Go to Upromise.com tonight after the kids are in bed. Sign up, and invite grandparents, aunts, and uncles to do the same. It requires no extra paperwork after setup — just shop as normal.

2. Open a 529 College Savings Plan — Even $10/Month Counts

What it is: A tax-advantaged savings plan where small monthly contributions grow over time. The money can be used for college, technical school, or other qualified educational programs. As of 2024, unused 529 funds (up to $35,000) can be rolled into your child’s Roth IRA.

Action step: Call your family financial advisor and say, “I heard it’s easy to set up a 529. We can only do $10 a month right now.” Set one up for each child. Don’t worry if your child doesn’t end up going to college — the funds are flexible.

3. Open a Roth IRA in Your Child’s Name — As Soon As They Earn Income

What it is: Kids of any age can open a Roth IRA as soon as they have earned income — even from raking yards or doing odd jobs. It sparks conversations about compound interest, investing, and frugal money habits. Best of all: money in retirement accounts is not counted on the FAFSA financial aid application.

Action step: The next time your child earns money for any job, help them open a Roth IRA in their own name. Show them the BankRate Roth IRA calculator online so they can see how their money grows over time. Let them know they can withdraw contributions (and up to $10,000 in earnings) for a future first-home down payment.

4. Move Exposed Assets Into Retirement Accounts Before January 1st of 10th Grade

What it is: The FAFSA looks at your finances during the “base year” — January 1st of your child’s 10th grade year through December 31st of 11th grade. Money sitting in regular brokerage or savings accounts counts against you. Money in official retirement accounts (401k, Roth IRA, traditional IRA) is protected and invisible to financial aid.

Action step: By May of your child’s 9th grade year, sit down with a qualified financial advisor. Move any exposed cash you can spare into official retirement accounts before January 1st of 10th grade. Selling assets after that date counts as income and makes you look richer than you are on the FAFSA.

5. Start Early and Follow a 3-Month Reading Plan

What it is: Jeannie Burlowski’s book Launch: How to Get Your Kids Through College Debt-Free and Into Jobs They Love Afterward gives parents a short reading assignment every 3 months as kids grow up — from birth through high school. Families who start early get the best results with the least stress.

Action step: Get the book (free at your local library) and start with the chapter “Prior to Seventh Grade.” Follow the 3-month reading schedule so you’re never overwhelmed. If your child is already in high school, you can still benefit — but the earlier you start, the more strategies are available to you.

Bottom line for moms: You don’t need to be wealthy or wait until high school to start. The biggest advantage comes from small, consistent actions started early — even before your child is born. Every $100 you save in a 529 only reduces financial aid by $5.64, but every $100 in student loans costs far more with interest and stress. Start where you are, use the free tools available, and let time do the heavy lifting.