When your wife or you as a wife is pregnant, one of the things that you think about your child to be born later is how to prepare for their education later.
Being a parent is indeed not easy because it has a responsibility for the human being referred to as your child. Whether it comes from the womb or you as a wife, or comes from the adoption. You are both responsible for caring for and raising them. One part of raising your children is to provide them with an appropriate education. It’s not easy, but you can start now if you are pregnant or thinking about adopting a child.
Here are some steps you can take to save money for their education expenses later.
1. Talk with your partner
The most important thing is the agreement you make with your partner about your child’s education budget. If you are not a single parent, this is important so that you both know and prepare properly the budget for your child’s education.
2. Begin to find out the cost of education in your area
This is the easiest way to determine the initial budget. You can ask questions directly to the nearest school from your home, or you can also ask your closest family or friends who already have children who have started school, whether it’s basic education like Nursery or who are already in Elementary School.
3. Ask for brochures from several schools
Yes, it’s not enough to just one or two schools, you can visit several school websites. This makes it very easy for those of you who have work hours, you just open the school website in your area.
4. Begin to determine
This is quite not easy, but you can discuss it with your partner. If you both work, you can determine whether these costs are borne together or one and the other bears the other budget. Talk about it with your partner. This is very important. Record and save carefully the results of your discussion so that you both can start to save funds for children’s education.
5. Think of Where to Save
Even though this is a modern era where people rarely save money or save in a piggy bank anymore, but some people still do it! You can think of the advantages and disadvantages of storing these funds in your own home or through a trusted financial institution such as a bank or insurance.