It’s almost the end of May, which means you’re likely looking forward to summer vacations, camps for the kids and a little pool time. Before your summer plans get into full swing, take a moment to celebrate 529 Day and set your kids up for future success long past this summer.

May 29th (5-29) is National 529 Day. The designation is designed to raise awareness about the importance of saving for future education costs. A 529 plan is a tax-advantaged investment tool that can help families save more for future education needs, including K-12 tuition, college tuition, apprenticeship expenses, room and board, technology needs, and much more. The Education Plan® offers a flexible, low-fee 529 plan that can be used by families anywhere in the U.S. There are no age limitations for who an account may be set up for, you can even open an account for yourself!

As the cost of education continues to rise, the importance of saving grows. Take these five steps this 529 Day to set your little ones (or yourself!) up for success in the future.

1. Open a 529 Savings Account Opening an account with The Education Plan takes about 15 minutes, and there is no minimum initial contribution required. Studies show that with just $500 saved students are three times more likely to enroll in college and four times more likely to graduate from college than a child with no savings account. Opening an account is a simple step you can take this 529 Day to make sure you and your little ones are prepared for whatever the future brings.
2. Set Up Gifting The cost of college grows every year. It can be daunting to think about saving enough on your own. That’s why The Education Plan offers easy gifting options. Once your account is set up, you can easily generate a code that you can send to loved ones so they can contribute to your 529 account. Ask for a contribution for birthdays, holidays, and other special occasions. You’ll be surprised how quickly your account can grow with a little help from friends and loved ones.
   If you already have an account or if you’re setting one up for the first time, set up your gifting code and send it out to family and friends in honor of 529 Day.
3. Make an Extra One-Time Contribution If you already have a 529 account set up, celebrate 529 Day by making an extra contribution to your account. It can be a small amount or a large amount. Your future self will thank you. This extra contribution may even bring more benefits if your state offers a deduction or credit for contributions.
4. Automate Your Savings Research shows that the best way to save for the future is the ‘set-it-and-forget-it’ method. You can choose a small amount that you can comfortably fit in your monthly budget. Maybe it’s just $5. Whatever amount works for your budget and education savings goals is a step in the right direction towards saving. With The Education Plan, you can set up your account to automatically deposit the amount you’ve selected from your checking account into your 529 savings account each month. Celebrate 529 Day by setting up automatic contributions and you can stick to your savings plan without the extra effort of remembering to contribute.
5. Contribute to a Loved One or Friend’s 529 as a Gift Maybe you already have a 529 account set up and you’re making regular monthly contributions. If that’s you, congratulations! If your savings are swimming along, consider gifting a contribution to someone you love for 529 Day. Maybe it’s a niece or nephew, a grandchild, a godchild, or a friend’s child. When everyone has an opportunity for future education, everyone in your community benefits.