They say, “education is the best legacy you can give your child”, this is one reason why most parents work hard to give their children the best education possible. However, quality education in Nigeria, just like everywhere in the world, costs money.
How much does it cost to give your children the best legacy? It’s definitely not a question with an easy answer because few studies exist on this topic in Nigeria. However, a research by Vanguard Newspaper suggests that it depends on the school you send your child to.
Depending on if the parents send their children to private school, public school, or schools overseas, they could spend an approximate sum ranging from 1 to 30 million Naira educating a child from primary through tertiary levels.
The standard of education varies from school to school, country to country, this standard varies among public schools and even amongst private schools, as do the costs.
Educating your children can be expensive! And in a world moving at a rapid pace, it’s not getting cheaper.
So, how do you make sure that regardless of the economy, your financial capability, or employment status, you can always provide for your children and secure the bright future you want for them? The answer depends on the preparations made, which is often synonymous with whether investments have been made in that direction.
Regardless of your income, you can lighten the long term financial burden by making contributions towards your children’s future through financial investments or “save for the future” savings program to cover their education from primary to tertiary.
Starting while your children are still young is vital; even a little investment would seem insignificant and non-impactful on your financial security. If done regularly, it would be akin to those little drops which accumulate over a span of time to make a mighty body of water.
Parents may procrastinate on spending on their children’s education when they are still young because the expenses do not seem imminent at that time, it soon leads to regrets when the major expenses arrive and threaten your financial security by creating a huge burden. That is the reason why the best time to start investing in your child’s future is as soon as they are born. Although for many, this might not be feasible, still, you should start investing early or now.
Start accumulating those interests and capital gains towards the major expenses of life. Investment is one of the most effective ways of making money, it is like saving but with re-investments and compounding. Investing in your child’s future could transcend their education, and that investment depending on how large, could also set them up and give them a good start in life as well.
You need to start proper financial planning towards your child’s future, considering several factors like where you want your children to school? What kind of school do you wish to send your children? How much of their future do you want to secure so you know how much you should invest and subsequent plans for the Investment.
There are several investment options to choose from targeted mainly towards saving for the future. You could try our “Save for the future” or “Golden Treasury Notes”, the former focuses on accumulating savings towards a major project, while the latter rides on the back of savy investments in the Capital, Money Markets and Alternative investments.
Starting early is key! If you think that you are already late, you are not! The next best time to start is now. You can email contact@goldenbridge.com.ng and let us assist you in putting a financial plan in place to achieve the dream of the best education for your children, or contact us by filling this FORM. An investment professional will respond as soon as possible.
