Help Your Child Reach for the Stars by Making a Plan Early on
The modern world somewhat dictates the atmosphere that’s almost entirely different to the times when we were young (the ‘70s, ‘80s and ‘90s). All of a sudden, kids are these rebellious, forward-thinking, I-can-do-it-myself individuals who, in all honestly, know way much more than we did at their age and find their way around life way better than we did. However, no matter the change in the growing-up climate, one thing has remained the same – they still need their parents’ help with education, i.e. funding their education. It is safe to say that a child’s education is one of the biggest financial burdens for any modern family and it’s important the parents start saving up early on.
To all of the parents whose kids are still small and all parents-to-be, here are a few tips that will help you wrap your head around the needed finances and ways to make your kids’ education budget easier to pad.
How early? As early as possible. The moment you find out you are pregnant, that’s when. Yes, that early. Procrastinating will get you nowhere except a dead-end no-available-funding zone. No, you can’t start next year. It’ll be too late. Before you know it, the kids are in high school, looking into options for college, with you just standing there, without a single penny saved up.
So, start setting the money aside as soon as your children are born, and try to stick to the same rate every month. Pretend you are paying off a debt, a mortgage or some other investment. That way you won’t let yourself think “I can skip this month”.
Make it a joint venture
Once your child is old enough to pick up a part-time job, encourage them to do so. Then, have a talk with them about their college savings account and how important it is to have enough money on it before they start college. It would be great to convince your child to set some money aside from their part-time job wage and put it into their own college account. Although they might not like the idea of giving up their money at first, they will soon realize they are actually investing in their future and feel proud for being able to contribute as much as possible.
Scholarships are an amazing way to get funded through college and that’s why we find it one of the best options to explore. In case you didn’t know, there are plenty of colleges that offer easy scholarships to students who excel in particular subjects or athletic skills. This is particularly great for families with limited means whose children do have aspirations to go to college but don’t have enough money for it. Naturally, scholarships are available to the wealthy families as well, since they are based on the children’s exceptional abilities/achievements rather than their backgrounds.
Encourage any special talent you may have noticed in your child and support them every step of the way. Hire trainers or tutors, go to classes with them if they need your support talk with them, get involved by helping them yourself, etc. Look into finding other ways to help them with university admissions as well, so that at least part of it is paid off.
Be their rock
The best way to help your kids become and stay focused on success is letting them learn by your own example.
Children pick up more than we’re aware, especially from their immediate surroundings like their parents, closer family, teachers, and neighbours. When your children see how committed, dedicated and thriving you are in the work that you do, they’ll be likely to follow in your footsteps. Also, nurture healthy communication with your children by talking to them about the importance of education, advancement, focus, and hard work. Talk to them about their wishes and be open to answering all of their questions regarding their future career. Explore ideas, goals and objectives together. Work on making a plan for the future together. Be involved – they’ll thank you later, that’s for sure.
About The Author
Emma Lawson is a former teacher and a mum to two boys, constantly improving her parent skills. She is passionate about writing and learning new things that can help you lead a quality life. She is a lifestyle blogger at Mischief & Co.
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