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Why should you save for your children’s education?

Securing your future and your family’s financial conditions is always a top priority for every individual with an average level of income. Of specific importance is the University Education of your child/children. You will have to look for the appropriate advice to know how to make Investments and generate Savings out of your current income to provide for the future of your offspring. However, one must first understand why you should assign priority towards saving to educate your children.

Out of many priorities you may have with regard to your financial planning, the importance of saving for the Education of your children cannot be overemphasized. For one, while many other aspects can be predicted or foreseen, the cost of education, especially at a higher or University level, more often could come as a surprise. One imponderable could start with your child. What does she or he want to do in terms of higher education? Which University? Even if you had the answers to these, you need to know how much Investment you have to make today, to make your life easier when the moment reaches for your daughter or son to go to college.
Then again, there has to be a proportion between what you are able to put aside from your current earnings and the time left until your daughter or son reaches the University-joining age. You have to, therefore, seek the right advice on the best ways to make your Investments, which will give you adequate returns during the period henceforth, to the time the moneys will become essential for making the payments. Obviously, it is not within an ordinary individual’s capacity to make all these computations and take it easy, thinking it would all work out. One has to understand the gravity of the issue and start working on making savings for your children’s Education right away.

About the Author
Jason Noble is CEO and Managing director of The ONE Group.
Based in Dubai for over 8 years, Jason has extensive international financial advisory experience and has held senior management positions in two of the largest international wealth management firms, Globaleye and PIC deVere.
If you would like to contact him to request a free initial consultation please email [email protected] and one of our relationship managers will get in touch.