A working mother’s sheer presence is a celebration to a toddler! This children’s day, I decided to devote a bit more time for my 3-year-old.
My 3-year-old enjoys me being around, so why not devote a little more time this special day? As usual, our time together will be full of giggles, hugs, kisses, and a lot more. But this children’s day, it’s something more.
I promise to laugh with him every day!
I promise to respect his individuality!
I promise to make him always feel loved!
Above all, I promise to make best education available!
Here is how the family planned financially to offer best possible education to their kid.
1. Financial Planning:
Created a holistic financial plan, using expert advice, in which funding for education is one of the major areas to cover.
The plan includes all the priority money goals of life like retirement planning, plan for a house, vacation, buy a car, etc., thus ensuring a complete life without compromising on other money goals. A period review is necessary.
2. Automated Savings:
Planning is followed by automated savings to build the required corpus within the stipulated time. Any non-committed expenses like lavish dinners, luxury travel, etc. are all to be avoided.
It is important to valuer hard-earned income and divert them to the right channels. In simple, the savings should be allowed to grow
3. Early Investments:
Simple savings are not enough to meet big future money needs within the stipulated time. Right planning with the early investments help meet the desired expenses without feeling the financial burden.
In short, planning for the child’s education needs is a huge commitment. However, just focussing on educational needs and neglecting other money goals may defeat the purpose. All the financial goals drive equal attention so as to lead a self-sufficient and undisturbed life. Seek professional expert advice from online advisors like ArthaYantra. We help get a holistic planning done!
