2. Turn off the main water supply for the house. Put a bucket under the drain pipe. Open the cold-water handle of the kitchen faucet and let the water drain out if you're replacing the cold valve. Drain the hot side if you're replacing the hot valve.
According to Fidelity, a family making $55,000 would need to save $48,000 to cover the qualified expenses of a public university and $107,000 to cover such costs for a private one. This translates into saving $160 a month for a public college and $410 a month for a private one.
Most people felt $50 to $100 is the appropriate amount to spend on both high school and college graduates, according to the latest Investor Pulse survey from Spectrem Group's Millionaire Corner. According to the survey of 1,200 investors, 87 percent feel it is important to give graduation gifts to immediate family.