College Savings

[massde]

Hi - does anyone have any advice for me?
I have a three month old baby, and already I'm thinking of the cost of college! University is costly for everyone and if my son decides to go in another county and presuming fees are going to be brough back, then based on my current situation I need to start saving now.
I am thinking of saving €20 a week. Can someone please advise me where the best place would be for this savings over the next 18 years.
Thanks a million!

 

[John Rambo]

Hi - does anyone have any advice for me?
I have a three month old baby, and already I'm thinking of the cost of college! University is costly for everyone and if my son decides to go in another county and presuming fees are going to be brough back, then based on my current situation I need to start saving now.
I am thinking of saving €20 a week. Can someone please advise me where the best place would be for this savings over the next 18 years.
Thanks a million!

There are a number of options discussed here:

http://www.askaboutmoney.com/showthread.php?t=20747

The EBS product has a minimum of €100 a month but you're also taking a punt on demutualisation at a later date so it's not the worst option.

Congrats by the way and fair play to you for planning. Don't over-extend yourself either though. Estimate what will be required and plan accordingly.

 

[Lightning]

I am thinking of saving €20 a week. Can someone please advise me where the best place would be for this savings over the next 18 years.
Thanks a million!

In terms of savings products you have 2 main options.

1) A lump sum account that you can keep adding to. The best rate currently is 3.75% with Irish Nationwide.

2) A regular saver account. Anglo currently offer 5% but only for the first year. Ulster currently offer 4% with no set maturity date.

Ulster Bank in Option 2 would seem more suited you to. Whatever option you go with make sure you check the savings best buys on a frequent basis, over the next 18 years, to ensure you are still getting the best deal !!