Planning for the education of your kids is important right from the time they are young. Best Financial Advisor Kuber Mindz is of the opinion that inflation will only continue to rise, thus making it more important to save for your child’s education at the earliest. How do you plan? What should you do with the rising costs of education?
Every parent dreams of getting the best possible education for his/her child. For being able afford the education costs of your child, you need to plan and begin saving at the earliest. Certified Financial Planner Kuber Mindz says that it becomes easy if you start saving early so that you can save enough for the child’s education.
What does Planning for Child’s education mean?
Planning for your child’s education means saving and planning for the kid’s further education right from the time you get to know that it is important to plan for the child’s education. India’s Best Free Online Child Education Planning states that the parents must maintain financial discipline and keep a diversified portfolio to meet not only their child education goals but also all their other financial goals.
Investing in diverse investment options and buying adequate insurance like Term Insurance is a great step towards planning for your child’s future. You can invest in SIP’s for the child’s education and keep a Term Insurance for yourself so that in case you are no longer around, your child will be the nominee who receives the proceedings. Smart Financial Advisor Kuber Mindz Moneymindz says that when you plan for your kid’s education, you need to look at the best methods to save more money for the same. Planning is very important and so is the execution of the plan. Without it, it becomes harder in future to afford the ever rising costs.
Features of Child Education Planning
- Plan in advance
Imagine going somewhere without even knowing the destination. It’s better to know your destination. Plan for your child’s further education from now.
- A well planned target amount is beneficial
A target amount that is well planned according to inflation adjustments prepares you for the future.
Merits of Child Education Planning
- Chances of having to take Education Loans reduces
Education Loans are available. But if you are an individual that doesn’t prefer taking loans, it is better to keep some funds aside so that chances of taking loans are reduced.
- Power of compounding
The power of compounding helps you always. Every drop of water counts, every tiny saving adds up and you can reap the benefits.
For more information visit www.moneymindz.com or give a missed call to 022-62116588