All parents have a dream to impart good education to their children. Through education, we are able to cultivate the world’s next generation of leaders and innovators. Knowledge always pays and is the key to a child’s success in the future.

But how can you help your children live their dreams and achieve their career goals when budgets are limited and educational costs are constantly increasing? Do you have a savings plan in place for educational expenses? Student loans are not the ideal solution as they put an economic burden on your children. Designing an education plan is probably one of the most important financial decisions you can make.

I can help you build an education plan, minimising the effect of education fees on your family’s budget. 

What is education planning?

Education planning is making arrangements to account for your child’s education in your overall wealth management and planning strategy. This means ringfencing some of your funds to pay for education costs in the future.

When people think of the word “education”, the first things that come to mind are primary schools and basic education, college education, special schools, universities, etc. We all know that the key to an adult’s success in life is their education. However, few of us know that giving our children proper education is a process that can start even before they are born.

Education costs rise every year. Education planning should be a part of a greater financial planning process. Education planning experts define this type of planning as the process of establishing goals, deciding on actions to accomplish them, and using the resources necessary to carry out those activities.

Young parents who have vowed to support their children should seek qualified advice on education planning. There are many different approaches to education planning that should be considered.