Effective Planning For Your Child’s Education

Planning For Your Child's Education

PLANNING FOR YOUR CHILD’S EDUCATION.

Planning for your child’s education has become essential. In the beginning of creation, it was God’s desire and commandment for men and women to go into the world and multiply and fill the earth. Men have not looked back since then.

It is always a thing of joy when families bring into the world a new born baby. Apart from fulfilling God’s ‘commandment’, it is also a way for the elongation of the lineage of an individual. Through the bringing forth of a child into the word, a lineage is established from generation to generation.

But developing a child God has blessed us with comes with its own challenges. One of the major challenges is giving the child the best education available. And this, as it is always said, is the best investment a parent can give to his child. Educating the child secures his present and future. Planning for your child’s education becomes Paramount.

Read Also: COVID-19; Government and The Educational System

But in the world of today, where educating a child can be very costly, payment of school fees can be very scary. And that is why men can not do without planning for the child’s education. This requires adequate preparation by the parent. To pay for your child’s education without stress, the following financial planning tips can be of help.

Inculcate the discipline of savings/chart out a monthly budget. Start planning for your child’s education by identifying the annual cost of the child’s education. That is, identify the annual school fees. Then plan your monthly budget and come up with a monthly amount that you need to save every month. Once you have set a target, work towards it. Setting aside some specific amount everyday will help you meet other needs also.

The earlier you start the better. It is better you start setting aside some money on time as you commence planning for your child’s education. This could be by setting aside money monthly oron time to enable you benefit from the power of compounding. If you deposit your savings in a financial institution, the possibility is that your interest will be compounding.

Spend on what is required. To be able to set aside enough to meet your target, you will need to spend money only on necessities. Spend only on your needs rather than on your wants. Avoid all the unnecessary expenditures.

Enjoy Quantity Discount. Most schools normally give favourable school fee discount to parents that have more than one child in the school. Thus, it will be of benefit to a parent to put all their children in one school rather than spreading them in many schools.

Upfront Payment. Most schools also give discount to parents that pay the complete fees of their wards upfront. Some times as much as 10% discount can be enjoyed. By planning well and early, parents can utilize this window of opportunity.

Payment in Instalments. Parents can take their wards to schools that allow for payment of school fees in instalments. The opportunity to allow for convenient payment terms enables parents to spread the payment of school fees over a period of time. This frees resources to take care of other pressing responsibilities. It also eliminates the frustration of having your wards sent back home for school fee drive. Peace of mind all the way .Jofegan international school has worked effectively in this area. What is more?

Avoid Imitation. For some parents, the schools their children attend has become a class issue. Instead of taking their children to good schools with affordable school fees, they want to compete with their friends. By doing so they put themselves in unnecessary stress.

Education Loan. What else do you do if you still don’t have enough money after going through 1 – 7 above, you can opt for education loan. But this should come as a last resort. If you have a gap between the amount saved for the education and the actual cost of education, the difference can be compensated with an education loan. But this comes at an additional cost to the parent as interest will be paid on the loan. And that is why it should come as the last resort.

The above plans may not be exhaustive. Individuals can think of other options that are available to them. Above all, we must plan for a good education for our children. This is a MUST as it is a good insurance for both their present and future.

If you like what you have read, you can make your comments and share. You can also follow us on https://www.facebook.com/Jofegan123 or Instagram and Twitter.

You can also get regular updates from our newsletter.

Planning For Your Child’s Education

38 thoughts on “Effective Planning For Your Child’s Education

  1. turkce says:

    You made some good points there. I checked on the internet for additional information about the issue and found most people will go along with your views on this web site. Harri Briano Montanez

  2. erotik says:

    Useful info. Lucky me I discovered your website by accident, and I am surprised why this coincidence did not came about earlier! Morna Kelley Kerby

  3. escort bayan says:

    Great article! That is the kind of information that should
    be shared across the web. Shame on the search engines for not positioning this submit higher!
    Come on over and consult with my web site .
    Thanks =)

  4. escort bayan says:

    When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment
    is added I get four e-mails with the same comment.
    Is there any way you can remove people from that service? Appreciate it!

  5. adult massage says:

    I’ve been browsing online more than 4 hours
    today, yet I never found any interesting article like yours.

    It’s pretty worth enough for me. In my opinion, if all website owners and bloggers made good content as you did,
    the net will be a lot more useful than ever before.

  6. ASQ Thailand says:

    I have been browsing on-line more than 3 hours today, but I never found any fascinating article like yours.

    It’s lovely price enough for me. In my view, if all web owners and bloggers made excellent content as you did,
    the net will probably be a lot more helpful than ever before.

  7. film izle says:

    You made some good points there. I looked on the net to learn more about the issue and found most people will go along with your views on this site. Tony Redenius

  8. agen judi online says:

    Hello I am so glad I found your website, I really found you by mistake, while
    I was looking on Askjeeve for something else, Anyhow I am here now and
    would just like to say thanks for a marvelous post and a all round exciting blog (I also love the theme/design), I don’t have time to read it all at the minute but I have
    book-marked it and also added in your RSS feeds, so when I
    have time I will be back to read much more, Please do keep up the
    great work.

  9. Alternative State Quarantine says:

    I am now not positive where you are getting your information, but great topic.
    I must spend a while studying much more or working out more.
    Thank you for great information I used to be
    searching for this information for my mission.

  10. 4howtodo.com says:

    naturally like your website but you need to take a look at the spelling on several of
    your posts. Many of them are rife with spelling problems and I find it very bothersome
    to tell the truth on the other hand I’ll definitely come again again.

  11. escort bayan says:

    Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your
    point. You definitely know what youre talking about,
    why throw away your intelligence on just posting videos to your weblog when you could
    be giving us something enlightening to read?

  12. slot online says:

    It’s in point of fact a nice and helpful piece of information. I am glad that you
    simply shared this useful info with us. Please keep us up to date like this.
    Thanks for sharing.

Leave a Reply

Your email address will not be published.