By Jasreet Kaur01, Jun 2024 12:00 PMjagranjosh.com
Best tips
Saving for your child's education is a major financial goal that needs careful planning and consistent effort. Tap to read tips to save for your kids higher education.
Start Early
Begin saving when your child is born; early savings benefit from compound interest, growing significantly over time.
Reduce Unnecessary Expenses
Cut non-essential spending and redirect those funds into your child’s education savings to build the fund faster.
Invest Wisely
Diversify investments according to your risk tolerance and timeframe; consult a financial advisor for tailored strategies.
Encourage Scholarships
Help your child apply for scholarships and grants to supplement savings and reduce overall education expenses.
Teach Financial Literacy
Educate your child on saving and managing money, fostering responsible habits and potentially lowering future education costs.