“You can’t plow a field simply by turning it over in your mind” – Gordon B. Hinacky
Many parents want only what is best for their children – especially when it comes to their education. But as Antoine de Saint-Exupery put it, “A goal without a plan is just a wish”.
Educating your child will be expensive if you neglect the important process of planning ahead, whether it is convenient or not, and whether it feels great in the moment. “By failing to prepare, you are preparing to fail”- Benjamin Franklin’s words for couldn’t have been truer.
The rewards are in the future, but they are sweet, and the best part is, you won’t have to take a loan. If done properly you may even have more than you thought you needed initially.
So here goes our Education on a Budget tip in four (4) steps:
- Information: You need this like the air you breathe to make informed decisions. Find out everything you need to know – how old your child must be, how much it’ll cost, the opportunities for growth and development, hidden charges if any, resources and learning materials, etc.
- Save: Once you have an idea of the total cost, set aside money, quarterly or annually in an investment account for this purpose alone and be disciplined enough to let it grow. Remember, this money is for your child’s future.
- Scholarships: Take advantage of scholarship opportunities. No one said that to give your child the best you must pay for everything. There are a lot of opportunities available. Do your research and save yourself some money.
- Homeschooling: Consider homeschooling your child(ren) for the first few years. Families are beginning to consider this option because of how unbelievably expensive schooling has become. Some parents are unsatisfied with the quality of learning in terms of content and teaching styles despite the amounts paid yearly – they still notice learning gaps. Homeschooling will help you bond with your child, teach them morals, and control what your child learns. Homeschooling will help you save more. Your child can learn at a suitable pace (and even faster) and learn more through vast reading and observation.
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