In a fast moving and growing world where by an eye blink now we are at year 2010. We need to prepare for our child education where in 10 years time the education scheme will definitely going through changes and increase in requirements. One thing for sure, the education fee will definitely will increase. So, what are our plans to better prepare to overcome these changes and challenges?
I will cover our future education scheme in a another topic in a near future. Now, I would like to discuss and share my thought on financial for education. In general, most parents already invested in insurance for their child education. Before we could commit of these insurance, investment and saving, we have to have a plan for our child education. I’ve list down the checklist below:
1. What is your education plan for your child future? an engineer, a doctor, a pilot, an academician and entrepreneur
2. You may want have a plan A and plan B, which worst case scenario, if plan A does work then you could easily switch to plan B almost immediately.
3. Once you chose the education plan then you have to commit on financial commitment which my recommendation, put aside minimum of 10% to 20% of your gross salary for this plan.
4. Diversify your financial commitments into 3 main categories; protection (insurance), investment and saving.
5. Monitor your child education and ability which you may see his/her potential and adjust your financial commitment accordingly.
Lastly, every single cent you spent on our child education will give you a peace at heart and you will never regret.
Watch the video related to Child Education
The United Nations estimates that there are at least 140 million children living on less than a dollar a day in India, a large proportion of them on the streets of India’s major cities. While education can be a way out of poverty, the United Nations Children’s Fund believes that only about 60 per cent of children get the most basic primary schooling. Al Jazeera’s Casey Kauffman travelled to Mumbai to meet one of the city’s thousands of street children.
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Is there a way to name Bank accounts to names for the purpose you opened such as emergency , child education .Is there a way to name Bank accounts to names for the purpose you opened such as emergency , child education, home etc?
About Author
Shamsudin Razali -
About the Author:
Shamsudin Razali
www.child-education.net
