My HBD Has A Name Now
Its name is now "college books"
As a book loving mom, I feel its only natural that I pay for my children's college books.
According to google it costs about $1200 per year to pay for books. This means $4800 per kid.
If prices stay the same as they are now.
Now that HBD pays a 10% interest rate
I will be using it as the place to store my funds.
According to the investment calculator if I want to be ready to start paying for books in four years, I must add $75 per month to the account to reach past that goal, just in case book prices go up.
I also took into consideration that I will start paying for books in four years, and it will be just $600 at a time, which means some of the money will be able to stay in the account earning interest.
If, while kid #1 is eating away in the account $600 at a time, I keep adding $75 per month, then the account will stay healthy and strong for the two middle children.
Then sometime after they are done, I can just leave the account alone, and pay for the last ones books off the interest.
I always knew that I would figure out how to help my kids pay for college
But it feels damn good, to have a do-able, actionable plan, already in motion.
The Hive Network just became that much more magical to me.
this post is part of the ctpcontent 30 day content creating challenge.
Nice mid term goal! Not too short and not too long, might even be able to make it a bit thicc!!
That's a great way to save! I love having little pockets of savings here and there.
We're going to do a NO-BUY over in the Saturday Savers Club on the @eddie-earner account - the post will be out later today. Be great to have you wth us.
I will surely check it out.
I love "no buy" challenges.
❤️
That's a really nice way to save, and a nice goal. And yes, textbooks are insanely expensive!
=^..^=
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Awesome! we don't even have to put fiat to get HBD, just keep blogging or do curation, we'll have enough to add and claim every 23 day (to add more to the savings).
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You have 4kids?
Nice.... You just reminded me of Robert Kiyosaki telling his friend to take the money he was saving for his child's education in the bank and invest it instead.... This was a great move for that parent because he had returns on his money and interest that finance his children's education plus extra
Your kids are lucky to have you
Yup, four kiddos.
Thank you :)
Sweet.... The Almighty will give the wisdom to take care of them, ma'am 😊
My pleasure 🙂
!LUV
<><
@edystringz, you've been given LUV from @metzli.
Check the LUV in your H-E wallet. (3/5)
What a strong woman are you,you don't even care for anyone's help, you are just trying as much as possible to raise your children. I remember you rejected an offer from government helping mamas that live alone in California. Well done my good friend
Thank you :)
That's a nice way to use the HBD savings :-)
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STOPGreat reason to start saving and also with this specific of a goal you will be able to know how you are doing each month. Good luck and I hope you reach your target.
Thank you!
This is really fabulous calculation and retirement planning as well. I would certainly sell some of my tokens and invest in the HDB for future savings.
This is such a good idea! I think loading up the HBD savings is becoming a nice complement to having Hive Power!
I don’t have any kids yet but I’ll have to keep this in mind when they get here. Paying for books is such an annoying part of the education process… 😩