The Best Time to Start Saving for College Was the Year They Were Born. The Second Best Time Is Now.

 

If you’re a parent in Ireland, you already know college costs are climbing. Parents now estimate a single year of college at over €11,102 (Zurich, 2026). But there’s one factor that shapes your monthly savings figure more than anything else, and it isn’t your income.

It’s when you start.

A tale of two starting points

Picture two families saving for the same college fund. The first begins the year their child is born, putting away small, steady amounts each month. Over 18 years, those modest contributions quietly grow into something substantial.

The second family starts when their child turns 14. They’re aiming for the same target, but with only four years on the clock, their monthly amounts need to be far larger to get there.

Same college fund. Two very different monthly numbers. The only thing separating them is time.

Why time beats amount

When you start a college savings plan early, growth has years to build on itself. Start late, and your household budget carries the full weight alone. That’s why the golden rule of education planning is simple: the earlier, the easier.

Older children? You still have options

Even with a teenager at home, a well structured savings and investments plan can ease the burden considerably. The worst plan is no plan at all.

Talk to us

At Money Maximising Advisors, we help Irish parents work out a realistic monthly figure based on their child’s age and family budget. No jargon, no pressure, just clear numbers.

👉 Book a free call with our team today
 👉 Or send us a quick enquiry here

Warning: The value of your investment may go down as well as up. Money Maximising Advisors Ltd is regulated by the Central Bank of Ireland. C154250.