These five simple guide will help you secure the future of child

pulse.ng

Aug 10, 2017 1:41 AM

. - There are other habitual spendings that are not really necessary. Do away with them and channel the money to the saving kit.

The future is now  (Huffpost)

The importance of securing the future of your child cannot be overemphasize.

Every parent would love to save for the education of their children. Even the idea of it  is promising enough to immediately get one started.

But the present day economy is discouraging, and it is that discouragement that seems to be preventing everyone from making a move.

However, no matter hard or difficult the situation may be, education is one right that no child should be denied.

In other words, a child's education is a must; and saving for that education beforehand takes the pressure off you in the coming years.

Here are five simple guide that will help you secure the future of your child

Graduation  (thechristainsciencemonitor.com)

1. Cut your coat according to your size

Get a clear picture of your income and try to identify what can be eliminated with ease from your expenditure. You should start the saving with that.

Also, there are other habitual spendings that are not really necessary. Do away with them and channel the money to the saving kit.

2. Open a savings account

Always remind yourself that you have a limited time to save. Therefore, you should save on the account with regards to everything that concerns the education of the child.

From transportation to feeding, and from tuition fee to accommodation.

Estimate the cost of each of them and see to it that something done.

3. There should be no limit to your savings.

You might have more than one child, and the prospect of saving for them all might seem ridiculous, especially if your financial income is not as big- as big should be.

However, you should bear in mind that there is no limit to your savings. You can save as much as you can if you really want to save.

Try setting a target for yourself and ensure you find every possible means to make it work.

saving  (myndnow.com)

4. Make use of family resource

This idea might sound ridiculous but it will pay off in the long run.

Encourage grandparents, godparents and other family members to add their contribution to the plan in place of gifts for Christmas; birthdays and other events. 

Suggest to grandparents and godparents that the best legacy they can offer your children is a contribution to their education.

As earlier said, this idea might sound ridiculous and it might  also sound embarrassing to those with high shoulders. But hey, are they not your child’s godparents and grandparents?

Dad and a graduating son  (sagicorlifeinc.com)

5. Involve the child.

This is one way to introduce your kid into the sensible world of savings. Give understanding to the child as he/she grows with time; educate the child on the need for him/her to see his/her education as a paramount thing.

Let them also contribute to the savings however small it might be. The idea is to involve the child and not to make him/her source for funds.

Be reminded that the goal is to secure the future of your child, and it is a goal that is worth any sacrifice.