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How To Invest In Your Child’s Future

The cost of raising children is enormous – around $245,000 by the time they are eighteen at the last count. That’s a lot of financial planning you have to take care of. But how do you make the most of your money and ensure that you kids are benefitting the most? Well, with any luck, you will have a good idea once you have finished this guide.

The Basics

Most parents are concerned about one thing and one thing only: saving money for their children’s college education. While this is a crucial thing to strive towards, it can sometimes mean that their life between being born and becoming an adult can be overlooked. You need to have an idea of how to give them the best upbringing possible. Otherwise, they may not even make it to college after all.


You are probably going to have to work to start contributing towards that quarter of a million dollars it takes to raise your child. And that means finding childcare. As everyone knows, childcare costs are very high at the moment, but, unfortunately, there are very few other options. Because of this, it is important to choose the best care provider you possibly can. OK, so it might cost an extra $20-30 each week, but it will give your child a much better start in life. Think about making up the difference by reducing their college savings. It’s an investment that will pay for itself.

Private Or Public Schools?

While some people are lucky enough to live in an area with excellent public schools, others are less fortunate. If that applies to you, then investing your child’s savings into their primary and secondary education might be worthwhile. And if that means that private school is a must, so be it.

School Trips & Experiences

If you are squirreling money away for a college education at the expense of your child missing out, there’s a problem with your priorities. Kids learn so much from going away on school trips, and it is worth redirecting some of those savings to help them. They will start experiencing independence, get reduced fees on things they might never be able to afford again. They can even develop their education on a specialist summer camp, too.


Many children will want to see the world once they have finished high school, and may wish to take a gap year before they start university life. It cannot be stressed enough how beneficial this could be for them. In fact, they may even want to study abroad. However, the costs can be enormous. Not only will you have to help them with fees, travel and accommodation, but you will need to think about sending money abroad, too when they (inevitably) run out of money. Having savings put aside for this once-in-a-lifetime opportunity to see the world could even be more valuable to their growth than a three-year course in media studies.

Clearly, there are many ways for your child to grow and develop. And it’s those pre-college years that will form who they become. And that’s why you shouldn’t place such an emphasis on saving for their degrees.

Peter Christopher

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