Looking at current conditions, the cost of education is increasing over time. Therefore, it takes a lot of careful preparation, one of them with education savings. By preparing it early, you can anticipate so that the baby can complete his education to college.
Will start preparing for children's education savings? Make sure you know these four things.
1. Understand the Ins and outs of Education Costs
Want to plan child education savings? Find out in advance how much education is needed!
It is important for you to know the estimated cost of education as a first step. In this way, you will know the next steps that must be taken for the whole preparation. The details can be obtained through the official website, or contact the intended institution directly. This is where you can calculate funding carefully to plan your child's education savings to meet expectations.
2. Consider Other Expenses
If the location of the institution is far from home, it is important for you to consider other expenses.
A location far enough requires your child to have a temporary shelter while studying. Consider comfort when choosing an apartment or small house for them. Don't forget to calculate the cost of living during your stay. Since the increase in education costs reaches 10% to 20% every year, try to consider these funds in your child's education savings so that all needs are met.
3. Learn Products to Invest
In addition to the two things above, you also need to know that preparing education savings can also be done while investing.
There are various ways to get started. Indeed, most of us prefer conventional savings to save funds. However, there are many ways to have education savings while investing. With mutual funds, for example. Not only that, you can also try education insurance with benefits that suit your needs.
Of course, what needs to be done is to study each product first.
4. Find the Right Program
Already know the three things above? Now it's time to find the right program if you want to invest while preparing for children's education savings.
When faced with a wide selection of investment insurance products, the first step you can do is learn the advantages of each investment product and adjust it to your needs. After feeling enough to understand it, you can continue in consultation with people who are experts in the field.
In the end, when we prepare funds for children's education, it is important to prepare all possibilities. What will happen today, tomorrow, and the day to come among us no one knows, right? This is what triggers some of us to choose an education insurance program.
If you plan to have the insurance, it is important for you to choose a program that can provide convenience and be on target. Like one of them, ProGraduate, an insurance program that is devoted to preparing education funds for your baby from DBS & Manulife. With this program, you can plan for protection from starting to enter university until the age of 23 years. Get educational solutions with flexible premium payments and according to your financial needs and conditions.
