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Divya Chopra |
Parents Corner |
2023-09-05 |
null mins read
As you start planning to welcome your child in the world, you begin dreaming about their future. As parents, you want to give them the best of everything there is to offer. Education is the best present you can give your child. Investing in your child’s education reaps unparalleled returns which last a lifetime! If you are a newbie parent who hasn’t started planning your child’s education, don’t worry! ALL IS WELL! The time to look for investment plans for child’s education is NOW!
Financial planning for child’s future is no joke. It requires good research and financial consultation to find an investment plan that is reliable. We have a few tips that you would want to consider before choosing the best investment for child education:
Education inflation is a real thing. Want to hear something that will blow your mind? In a survey conducted by the National Sample Survey Office (NSSO), 2014 it was found that within a span of 2008-2014, the average education expenditure (for private schools) in India increased by 175%!
Sadly, controlling inflation is not in our hands. However, you can follow these three simple steps to sail through the education inflation smoothly:
Now that you know about all the prerequisites for planning your child’s education, it’s time to look for the best investment plans for child’s education that are most suitable for your needs.
Over the years, the need to educate children to build an educated nation has gained importance in the Indian context. Parents of the 21st century like you, are among those who realise the importance of saving and investing in your little one’s education. It is through financial planning for child’s future that we, as a nation, will collectively achieve the goal of an educated and skilled India.
In a report by the World Economic Forum in 2017, it was found that India was among the countries that spend the least on children’s education, with an average of less than 20,000 dollars. Hong Kong was the top country where parents spent more than 130,000 dollars on child’s education.
These words by Nelson Mandela are to live by – “Education is the most powerful weapon which you can use to change the world.” You, as a parent, have the opportunity to give this powerful tool of education to your beloved child by planning your child’s education. Choose your investment plans for child’s education wisely and let its returns ripple through a lifetime! Happy investing.
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