Education costs are on the rise and continue to be on the high end each year. As your kids grow old and start pursuing higher education, there is a significantly higher education costs involved. And you are definitely not going to forbid them from pursuing their interests for want of money now, do you? In this day and age, as you plan your finances, you also need to plan for their higher studies.
At Wealth Anand, we help bring your child’s dreams come true.
Know your needs
Financial planning is the act of managing your income; setting your financial goals and then allocating your assets across
Factors that can have an effect on the education
Every financial planning starts with knowing your requirements. In case of education planning, you first need to determine your objectives and know what you need.
Wealth Anand starts with questioning our clients on their requirements to get a better understanding of your needs. We help you choose between private or public schools, the cost that you can afford, how long you can sustain the cost, the time you need to save, and when you need the money and so on.
There are multiple factors that can bear on the cost of the education and the amount that you want to save. Few factors that can have a bearing include,
• Age of the student
• The performance of the student in academics.
• Scholarships that the student can garner.
• The education that the student wants to pursue.
• Cost of accommodation.
When you are planning for the higher education of your child, the earlier you start, the better your chances of making more in the savings account. With an experienced financial advisor at your side, you will be able to determine well on how to fit your educational goals into your financial planning.
If you are looking for your children to have the best option for their higher education, contact Wealth Anand Advisors now!