Whether you are a parent or an educator, you will be well aware that raising children involves a great cost. The greatest cost surely is emotionally for we invest so much of ourselves in our children. But there is a financial cost too (for parents).
Here in Australia, it has been determined (who knows how) that it costs AU$450,000 to raise a child to age 21. Mind you, if you have two kids, you can apparently get them both across the line for the discount price of AU$800,000!
For something different this week, I thought you might be interested in the following Guest Post infographic submitted by Vera Reed.
It’s never too early to start thinking about saving for your kid’s higher education plans. Whether your child is planning on college or university, public or private; it’s important to start saving early to ensure you’re not caught unprepared when the time comes. One of the ways you can begin saving is cutting out some of life’s simple luxuries; Yes, that might mean skipping your daily morning trip to the coffee shop.
The cheeky infographic below, brought to us by PassGED, outlines some ways you can ease into saving for your kid’s college or university plans. Applying some of these tips early on when your kids might soon be starting their secondary school education will make the cost much more achievable. Although some of the terms used below are specific to Americans, the overall theme stands true. The biggest tip to saving money for your kids higher education, is to start early and to cut back on unnecessary expenses. You’ll be surprised how quickly the money adds up when you give up these small pleasures.
Vera Reed is a freelance writer from Southern California. She understands the importance of cutting back on small luxuries, and how big of a difference it can make to your bank account.