Let's face it. College is critical to your future, but it's expensive.
One study says that the average amount of college savings a family has is $18,000. If that’s the case, then with tuition expenses continuing to rise, the average family's college savings are gone after the first semester of college.
People ask me all the time, "Whats the one thing I need to do to start preparing to pay for college?"
My response surprises them... because they aren't expecting this piece of advice.
It starts with changing your mind-set. We need to change how you think about paying for college.
Let me explain.
Have you ever heard of the Eisenhower Method?
Before Dwight D. Eisenhower became the 34th President, he was the general of the US Army and also served as the head of the Allied Forces in World War II. His success as a leader depended on his ability to determine what the highest priority decisions were, and go accomplish them.
He is known for a quote which created the Eisenhower Method:
“I have two kinds of problems, the urgent and the important. What is important is seldom urgent and what is urgent is seldom important.” — Dwight D. Eisenhower
This is a brilliant mind-set to use as we focus on the tasks which deserve our immediate attention. This is how this method ranks items by priority:
So how does this impact paying for college?
Well, our first problem is: when most people begin thinking about college… the need to pay for it is several years away. So, the problem isn’t urgent. “We have a few years to figure it out” most people think.
And so they do nothing.
They put it off.
“I’ll take care of it later,” they think, and wait for another 6 months.
Our second problem is that some people don’t think it’s important to have a plan to pay for college. Again, because it’s a few years away… they delay taking action.
They “hope” that something will work out.
“Maybe” I’ll find some scholarships.
And that’s the problem!
Delaying taking action means people don’t create a plan. And when people don’t create a plan ahead of time, the system is designed so that you will have to take out loans. And these loans will weigh you down for years to come.
We need to change this mind-set.
Instead of thinking of paying for college as neither urgent nor important… it needs to be urgent, and important. It must be front and center in your college prep plans.
Preparing to pay for college needs to be your top priority and it needs you to take action.
If you can change this mind-set, you will automatically increase your chances of success.
So, to answer our original question: How can you prepare for this kind of expense?
And a great first step is to watch my FREE webinar: How to Get FREE Money for College.
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