Jakarta, Armfalcon.com – May 2 is celebrated as National Education Day. This Education Day commemoration certainly reminds parents of the importance of sending their children to school.
Of course, being able to see college students in top universities is certainly a joy for parents. But what happens if both parents are people who are barely paid or equal to the provincial minimum wage?
A mediocre salary doesn’t mean you can’t send your children to the best colleges at all. Everything can be accomplished through a good planning.
However, what is an effective way to collect high-level education costs that are effective with a mediocre salary? Here’s the review.
Find out current tuition expenses
Without knowing how much the total expenditure must be paid for the education of higher education children, you will never know how much funds should be allocated to savings or investment instruments.
It’s a good idea to find out by asking directly to the university concerned or to relatives.
Know that, the cost of education will increase or inflation. You also have to make calculations from the inflation assumptions that you specify.
Set the investment timeframe
If your child is 10 years old now, then chances are that in seven or eight years you should have enough money to send them to college.
Therefore, you have seven to eight years of savings.
By knowing the investment or saving period, you can determine which investment instrument to use.
The longer the investment period, the more flexible the instrument choices are. Meanwhile, the shorter the timeframe, the more advisable it is for you to choose low-risk instruments.
Hand in hand to collect tuition fees
If you feel that your monthly salary is not enough, remember that you are not alone in this. Invite your partner to help you collect the cost of children’s education.
Routinely save and invest, set aside money in savings or special investment instruments at least once a month.
The more funds you set aside for your child’s education, the faster the funds you need will be collected.