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Many parents find 529 plans intimidating because it’s so hard to predict where a child may attend college, what they’ll decide to study, and how much it will cost.

Expenses that you don’t normally put into a monthly budget can creep up and cause problems with your regular financial routines. They aren’t really emergencies, but meeting these obligations is an important part of life, so coming up with extra money in a hurry can feel like an urgent need.

One of the most expensive times of year for many people is the winter holiday season. Gifts, hosting parties, large family gatherings, and travel expenses don’t have to cause problems with your budget, though.

How do a savings account and a retirement account differ? A savings account helps to insulate you from financial emergencies or unexpected expenses. A retirement account consists of money you are putting away for the specific purpose of retiring.