How to Save $5k for Your Kids’ College Fund

Planning for the future

There’s no magic here, but we’re going to show you how to save $5,000 per child, just by cutting hair at home! We’ll walk you through the 3 simple steps.

Cut your kids’ hair at home

Set up a college fund for your child

Contribute the money you would have spent on haircuts into the college fund

Step One – Learn How to Cut Hair at Home

It seems easy. Buzz the sides, clip the top… all done. However, if you’ve ever cut your child’s hair at home, you’ve noticed it’s not as easy as it seems. When you don’t know the basics, the haircut process is frustrating and can take a long time. The longer it takes, the more stressful it is for the parent and the child – which often ends in chaos. Your kid might end up with that “my parents cut my hair” look. The Barber Mom course will make that process so much easier. You’ll learn how to make the haircutting experience less stressful, and people will be impressed when they learn you cut your child’s hair yourself.

Once you know how to cut your child’s hair, you can avoid regularly hauling them into one of those childrens’ salons. You’ll save time and (lots of) money. Plus, you can take pride in learning a new skill. 


Step Two – Set Up a College Fund

If you haven’t already, set up a college fund for each of your children. We suggest a 529 Savings Account. Each state has its own program and there may be a tax benefit to using your own state’s 529, but you can use any state’s program. You can learn more here.

They’re easy to set up and you can usually share links with family for gift giving, so they can contribute online to the child’s college fund (great for birthdays and gift ideas)! Keep in mind that the money in the account must be used for college costs, or else you may be taxed on the money you take out.

Step Three – Contribute Diligently

This part is important. Don’t just throw money in whenever you think of it. Do it consistently – every time you cut your childs’ hair. Or set up automatic withdrawals – if you choose this route, you’ll want to increase your contributions every once in a while, as the cost of a haircut goes up. Watch your balance grow! After 15 years, you should end up with about twice as much money as what you actually put in. Let us show you the numbers here:

Let’s say you put in just $15 per month, and your account has an average annual return of 8%… After 15 years, you’ll have $5,064 in that account! So if you start cutting your kids’ hair at 3 years old, you should be able to give them at least an extra $5k for college – per child!

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