We are meticulous and extremely disciplined about our saving and our spending. We started saving when our children were born - as is the customary advice - so many dollars a month per child based on the estimated amount of their college costs 18 years later. What people seem to forget is that you're comparing future college costs with today's dollar value. We stopped making ourselves crazy by getting out of the mind set that we were doomed for failure if we didn't save every month for college costs, and instead set our goals on paying down debt, paying off our house, and saving every penny we could. We are in the best financial position of our lives (no debt, no mortgage, no car loans, etc.) and are children's funds for college are sitting here waiting for them. There's no magic method; we just did it the old fashioned way. Our oldest is still two years away from college so we're way ahead of the curve. Best of luck.
at 1:32 PM on Dec. 23, 2008