What Can We Afford?
Start with the budget. The goal follows.
Most planning tools ask what you want and then hand you an intimidating number. This one works backwards from what actually fits your month.
What fits your month?
Child's age today6
Assumed annual return6%
$100 a month is about $23.08 a week or $3.33 a day.
By age 18
$21,015
By age 21
$29,082
By age 25
$42,358
What this could cover
Illustrative price ranges, not quotes.
- Trade certification or licensing100% of $12,000
- Two years of community college96% of $22,000
- A reliable first car100% of $14,000
- Launch fund: deposit, furniture, buffer100% of $20,000
- Four years of in-state tuition support35% of $60,000
Small is not nothing
$25 a month started at birth does more than $200 a month started at fifteen. Consistency beats size, and you can always step the amount up later.
Hypothetical projections at a constant assumed rate. Not investment, tax, or legal advice.