Defining your savings goals is the first thing to do before you invest, especially when that investment will have an impact on your childs future.
It is after-all your childs future that you are investing in–and school finance cannot be avoided, as babies will grow into adults who need to be given the best opportunities we can offer as parents.
The best advice that any parent can get is to start saving early. College tuition fees can cause a strain on your family’s budget and lifestyle. You need to have a goal to keep you motivated to save. And what better motivation is there than knowing that the money you save will finance your child’s education.
Normally the best stage to start saving for your childs finance towards college tuition is at birth. If, however, you have not started, then the time to start saving is now. It is never too late to start saving.
The sooner you start saving, the more time therell be for compound interest to build up into a nice college fund for your child. Remember that each child should get his or her school finance savings fund.
You also need to decide the amount you intend to save by the time...
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