The financial services firm Edward Jones released findings from their annual 529 Plan Awareness Survey last week. Disappointingly, 529 Plan awareness has fallen nationally for the third year in a row. This is concerning because of the escalating costs of college. 

Edward Jones’ study follows Sallie Mae’s “How America Saves for College 2014” study released last month. The findings from Sallie Mae’s study showed that only about half of American families are saving for college. 45 percent of families that are saving for college are doing so in a standard savings account. You know that account that earns you a fraction of a fraction of the return your bank earns by lending out your money to others.

This is the final article in our financial planing trilogy. Last week we discussed long-term and short-term financial planning, or the rocks and pebbles in your jar of priorities. Today we will discuss daily financial planning, or the sand in your jar.

Between last month’s polar vortex and this month’s ongoing snow storm, many parents are feeling the stress of having their children home from school day in and day out.  By now, kids are getting tired of playing in the snow because it’s no longer a novelty.  Mom, Dad and the babysitter have run out of ideas to keep kids busy other than watching mind numbing TV or playing borderline inappropriate video games.  It’s understandable.  After hearing screaming kids for four straight days, Grand Theft Auto doesn’t sound so bad.  
With kids missing so many days of school, when will they learn anything?  What will happen to their brains with so many breaks from school?

The French writer and poet Antoine Marie Jean-Baptiste Roger said, “A goal without a plan is a wish.” Aside from not knowing who that guy is, he had a point. Without a plan for achieving your goals, you will only accomplish them through pure luck if you accomplish them at all. This is an arbitrary strategy. With the tepid economy, high unemployment and increased costs for everything competing for your hard-earned dollars, not having a plan can guarantee financial failure and that sucks. 

Continuing with our rocks, pebbles and sand analogy from Monday, today we will discuss your pebbles or short-term financial goals and how they relate to your long-term goals. Just as Mariah Carey supports Nick Cannon, your short-term financial goals support your long-term financial goals.