College savings

When 40 percent of Americans live paycheck to paycheck, you have to wonder why saving money is so difficult. Marketplace Money’s Carmen Wong Ulrich points to declining wages, but she also says the culture of saving was lost.

Ohio's Cuyahoga County will start a college savings account for every kindergartener.

Remember the heady days when housing prices just kept going up? A new study says that extra money gave some students a ticket to a more selective school.

My husband and I just refinanced our house at a great rate (15-year fixed mortgage at 2.875 percent). Our house payment is low and we can afford to pay more each month. Would the best use of our money be to pay down the principal on this low-interest loan or put extra away for retirement or for our children's college fund? We have two young children and are in our late 20s/early 30s. Thanks for your help! Katie, Helena, MT

I recently bought a house for the first time. I am in my early 50s and have a son in high school. I don't have life insurance. I have been receiving lots of advertisements in the mail telling me I should have life insurance or mortgage insurance. Should I buy term life insurance to protect my son? It is very hard for me to save money, and I'd rather save what I can for future college bills and my retirement. Thank you, Erika, Salisbury, CT

My son is 7 (will be 8 soon) and I need to start saving for his college -- fast. I know I should have started sooner but here we are now with fewer than 10 years to go. What are some avenues to saving for college and get a good return? DoVeanna, Tuscaloosa, AL

My husband and I are late-in-life parents (he is 59 and I am 49) and we have a 1-year-old -- the absolute JOY of our lives. She is the only child for both of us and I am wondering about what you would suggest as the most cost-effective way to save for her future? Kathleen, Fergus Falls, MN

The uncertainty is unavoidable, but you can come to a more reasoned savings decision by starting from a different place than market history and investing insight. Forget about investing and asset allocation. Think about your job and your career instead. Are you a stock or a bond?