Thursday 29 March 2018

Start Your Child's College Fund Today


No matter how young your child is, it's never too early to create a college fund for them. It seems so unfair that schooling costs so much - there should be no price on education, and yet, there is. Now unless your child is lucky enough to be offered a scholarship, whether that be in the sports, arts, or any other academic department, then your only other choice for them to have the chance to get into college is to pay for it. This is why so many students end up in serious debt, because they throw themselves into the deep end and find themselves taking out loans in order to pay their way. While there is no problem with doing so, as for some it's the only choice they have - it is also a very slippery slope, and if they don't manage their finances properly, they will end up in a lot of debt for their future.

So of course, as a parent, you will want to do whatever you can to ensure this doesn't happen by providing them with everything they need to go on to have a bright and successful future.

Here's how you can make that happen.

Open a savings account.

Every month, take out a fraction of your earnings once the bills and other essential payments have been made, and then put it into a savings account. The best way to do this is to pick a number that you know you can afford to take out of your regular bank account, and then set up an automatic transfer to move it into your savings. That way you don't have to worry about remembering or getting distracted by your earnings. Instead, you no longer have to think about it. Then when the day comes, you will find yourself staring back at a number you never could have imagined having. The earlier you start, the more you will have accumulated in the long run.

Invest your money.

If you have a little bit of money and you'd like the potential to double, triple, or quadruple it, then investing it into a business may be the right path for you. This comes with a bit of risk, as you can never really be one hundred percent sure you will earn anything out of it, but if you do, the benefits can be incredible. Ichimoku cloud is a way of technically analysing different methods in order to stand a better chance of making money. So do the necessary research and if it's something you are interested in doing - give it a go.

As you can see, these are just a couple of examples of what you can do to make more money, so don't wait any longer to better your child's future. Another smart idea that you can do along the way, is to show your children how to properly manage money so that they are aware of what is to come when they're older. The more they know now, the easier they will find adult life.