Whether you save in a high-yield savings account or take advantage of the 529 tax savings, you could save yourself or your relatives from excessive interest and loads of student debt in the future. The difference in what you earn is significant: After 10 years in a high-yield savings account, your money will have earned $1,343.52 more than if you had kept it in a regular savings account. Pick up a fun side hustle and save that money: If your day job covers only enough to pay the bills, you'll need to figure out how to make extra cash to start saving.