As a parent/guardian of a child, it is your primary duty to feed, nourish and teach him/her. The child’s education loan becomes your priority and has to be so. There are many an illustration where parents and guardians roll their eyes in awe and disbelief when they see education loan rates soaring rather than staying stable or falling.
Plan for his/her future education. Follow these steps.
Many people detest this word and concept. Rising prices and lesser value for money. Education, medicine, groceries, electricity, everything is becoming costlier as time passes by. You have to ensure future education prices are taken care of, at least mostly. [Get Personalized Advice On Education Loan Visit]
2. Do not squander away more time
Begin investing for your Child’s future education now. It’s ideal to commence when he/she is born. Delay no further. You still have time to save how much ever you can save. Even if you manage to keep money which will cover most of your kids future education, it would be great. The remaining can be arranged through Education Loans, etc.
3. Investment returns ought not to be low
Do whatever you can, but don’t invest in low return investments. Go for high return or at least medium returns. This is because you are planning for the long term and would require sufficient funds to afford the kids’ education. You may take double the time if you invest in low returns.
4. Every drop counts
Each drop of water contributes to the ocean so don’t worry about how big or small your funds are at the start. Invest, go on increasing the amount you invest, get high returns and finally see for yourself. Each drop counts, every small contribution makes a large difference.
5. Get Insurance
Get a Life Term Insurance, Health Insurance and Child Insurance. God forbid, if you are no longer on the face of earth, your children still need to get educated. At that time, the insurance coverage amount will take care of their education till they’re 18 and clear off any loans you held at the time of death. [Get Personalized Advice On Life Term Insurance Visit]
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