We have 3 kids in our home, which means we’re saving for college for 3 different personalities and learning styles. My biggest issue is finding the easiest way to make saving for college a simple part of our monthly budgeting routine.
Saving For College Using An App
Of course, being a millennial mom, I had to ask: is there an app for that? I was recently contacted about U-Nest, which is the first mobile app designed to help families save for college with a 529 College Savings Plan (pretty amazing when 70% of Americans don’t even know what a 529 is!).
The company recently announced a major milestone – 500 families are now using the app to create a straightforward, realistic route to financing their children’s education.
After launching last fall, U-Nest recently announced that its app for saving for college has been used by more than 500 families looking to save money for their children’s education. U-Nest is the first mobile app designed to help parents build, manage, and optimize a tax-free college fund with a 529 College Savings Plan.
Easy to set up in as little as five minutes, U-Nest simplifies the process, providing families from every economic background a straightforward, realistic route to saving for college.
Why Parents Aren’t Saving For College
Seventy percent of people in the U.S. don’t know about 529 College Savings Plans. But, student debt in the U.S. continues to soar to ridiculous levels reaching roughly $1.5 trillion. Trillion, you guys!
In addition to educating parents about the tax-free benefits of 529 Plans, U-Nest is demystifying the complicated process of setting up a plan, and breaking the cycle of student debt passed from generation to generation.
Parents can quickly create a 529 Plan, set monthly contributions (as little as $25/month) based on the in-app college savings calculator, track their progress, and easily adjust contributions over time, all from their phones.
The app is gaining popularity among millennial parents (like me!) hungry for affordable, accessible and easy ways to save for their family’s future.
Ksenia Yudina’s Passion for Saving For College
CEO, founder, and mother of three, Ksenia Yudina holds a CFA designation, and spent over a decade as a financial adviser helping parents understand how best to establish savings funds for their children.
“This process is complicated even for seasoned financial advisors, but it doesn’t have to be. We built U-Nest to remove the barrier to 529 Plans for families who can’t afford expensive financial advisors to guide them,” says Yudina. “We want to take away that stress for families who are feeling overwhelmed. This is the value that U-Nest provides.”
U-Nest financial experts optimize plans to college saving are invested in the smartest way possible. They are based on available plans, your kiddo’s age, and your contribution level.
U-Nest acts as a digital financial advisor and rebalances accounts over time to achieve a more conservative asset allocation as your children get older. Financial advisors can cost upwards of $200 per hour, but U-Nest waived all underlying broker-dealer commissions, and the advisory fee is a simple and transparent $3/ month.
How exciting is this? Saving for college shouldn’t be an expensive and complicated ordeal for parents, and this is a great resource for us to use. I love that the app will adjust over time, which means while we save for our 4 year old, U-Nest will make sure our college savings for him are being used to their full advantage.
To open a U-Nest account, visit https://www.u-nest.com/
