Welcome to the Money Girl Podcast. My name is Laura Adams. I'm a personal finance

expert, author, and speaker helping you live rich and love the journey.

This show is about bringing you the best information, resources, and tools so you can take

your finances to the next level.

To learn more about me and download two free chapters for my award-winning book

Moneygirls Smart Moves to Grow Rich, visit LauraD Adams.com. While you're

there be sure to check out my tools page. It includes over 40 recommendations to help you with banking, investing, building credit, productivity, and a lot more.

If you think having a successful financial life is challenging as a single,

whooo, does it get more complicated when you add a partner, spouse, or children to the mix?

In this episode, I'll answer three questions about family finances. We'll cover

the best way to safer college, for yourself or a child, how couples should manage money,

and a sticky situation with co-signing a loan.

Plus I'll answer a bonus question about credit cards that clarifies information from a

recent podcast.

All right, let's get into today's show with question number one. This one comes from

Michael A. He asks, what's the best way to say for a child's future college expenses?

A 529 plan, a traditional IRA, or a Roth IRA?

Thanks so much, Michael, for sending in this question, it's a good one.

The best choice for

college savings is definitely a 529 plan. Not only does it give you major tax

advantages and a high contribution limit, but it also gives you the most control over the money.

These accounts allow you to save for college in two ways.

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