Prepare Your Child Make Savings

Preparing the cost of education is increasingly expensive to make people willy-nilly to his clever trick. In order to remain able to send their children in the school of good quality, consider the tips on successful Arsiyanti Fauziah, SE, MM, Dipl. FP, a consultant from First Principal Financial, Singapore, to prepare the children’s education fund:

1. Savings From Early
Ideally, the funds have been prepared since the child was still in the womb. Because, when the child is born, many other needs that also must be met. Preparing early cost would be great (a lot) results, so the cost is more expensive school can be overcome.

2. Determine School Children
Determine where the child will be sent to school later. Having a specific school goals is very important, to be determined how much the cost of education is needed, and how much money you and your partner should set aside or tubes to achieve.

3. Collecting Information
Look for information on how much money is needed for school children’s education at each level of school that you and your partner want. Thus, you already know how much costs will be needed when the time came to school children.

4. Financial Condition
See the overall financial condition of your family today. Check if you both have a debt, both short and long term, how much income and expenses every month, and how many assets they own. From there, it will be seen whether a certain period, which is owned savings will allow to send their children at school who preferred.

Do not forget, you will adjust well and partner with the capabilities of the. If the financial condition of normal, should not dream of sending their children in expensive schools.

5. Investment Plan
Make a plan to set up education funds with maturity Little. In order to more clearly and feel the benefits of investment do you and your partner, consult this with a financial planner. If you both want children in elementary school A, for example, means that you and your partner must save a certain amount each month, over the years. Choose a financial instrument that can compensate for inflation, so that when it comes time for Little to school, and sufficient funds are not ” lose “by inflation.

6. Routine Evaluation
With plans already made, periodic evaluations again whether the funds needed to be sufficient, and find out why they’ve been appropriate. The cause was not in accordance with the amount of savings plan to save, can occur partly because you and your partner are not disciplined or not good at saving money managing family finances.

7. School Fees
When Little started school, funding is needed among other things, the base money, money monthly school, and extracurricular costs. Do not forget, also factors into account inflation, so the increase in school fees can be overcome. To be more safe, enter the range of 10-15 per cent figure for this one factor. The amount of funds that should be set aside each month are not the same in every person, depending on individual circumstances including the purpose and type of schools selected investors in the style of both of you, whether the type of conservative, moderate, or aggressive.

8. Stay Saving
Even if you already do not save early, never too late! Keep start and spirit of saving, although the results are not as good as starting from scratch.

9. Intention and Discipline
Too late to save or not, which obviously you have to have a great desire to save money. Apply discipline to save, work hard and not a luxury lifestyle that created a financial plan with a good not in vain and can be achieved. If you still have a habit of wasteful, brake your shopping spirit. Do not let, your child has a good talent but not channeled, just because you do not have a financial plan is not well ordered.

10. Regular Savings
Before a financial instrument will be used as a tool to invest, should you and your partner have a regular savings (in cash) in the bank for emergency funds. For example, if the income one of your Rp 3 million per month and you both have a child, at least you should have savings of three times your income, that is USD 9 million. Thus, if one day something happened that suddenly cost money, can still be taken from the savings and the funds saved for Little education will remain safe.

11. Cost Doubles
If you have two children who at the same time to sign up for the new school, of course, requires double the cost. Which still have to do is save from the beginning. Look them over distances, to determine the amount of savings for each child. If necessary, consult this with a financial planner, so you both know how much savings to be achieved, and can find solutions if financial conditions change.