Is El Monte Promise Foundation Scholars Save for College 529 Strategy Best in U.S.?
Is the El Monte Promise Foundation Scholars Save for College 529 strategy the best in the United States? The answer, it really does not matter. What does matter is it is excellent. It is a save for college 529 strategy all of us can learn from.
I strongly encourage everyone to watch the Foundation’s launch event video and review their Scholars Savings Program (SSP). The interviews are outstanding. They provide keen insight on why the habit of saving money is crucial, especially for kids. It has nothing to do with interest rates. That’s something far too many people get distracted by. The habit of saving sends a strong affirming message to the saver and others. It says the savers’ future is valuable. It says the savers future is worth investing in. That psychology and mindset need to be reinforced early and often. It is particularly vital in an environment where messages to consume outnumber those to save and build one’s future by thousands on a daily basis. El Monte gets it. Their goal is to ingrain both the higher education and save habitually mentality into its city culture.
“It’s not how much money you save. It’s that every day you put that dollar or fifty cents you save in that little jar that eventually gets deposited, is an affirmation…
Jeff Seymour, Board Member, El Monte Promise Foundation
One thing that distinguishes El Monte’s Save for College 529 strategy, is it’s collaborative. Several organizations within the city of El Monte and in Los Angeles county are working together to make it happen. The collaboration also includes the Utah Education Savings Plan (UESP).
“…It’s about helping them develop the habit of saving…it’s the most important thing a child has to learn while growing up…”
Edmund Khashadourian, President Opportunity to Assets
Congratulations to the El Monte Promise Foundation and its partners for your leadership. You have created an excellent Save for College 529 strategy with the Scholars Savings Program. It’s a visionary program we can all learn from. Discover more on the El Monte Promise Foundation website.
Do you know other organizations and cities with excellent Save for College 529 strategies? If so, please let us know. We would love learn more about them!
Time – Gerri Detweiler | 7 Bad Money Habits You’re Teaching Your Kids
Dream Big Blog – 11 Ways Teaching Kids Early to Save Money Pays Off
Join the Dream Big Day Campaign & Pilot Testing
- CHECKOUT Sammy Rabbit’s track record of Predictable Effectiveness Repeatedly that can be Replicated by Anyone!
- Teach kids to dream big and establish great money habits, like saving!
- SEE WHO and Where the Dream Big Day Experience is being PILOT TESTED