No more obstacles on the way to success!
Panicking about inflation does not suit you because it’s a very delicate time for you and your infants. Preparing yourself for any challenging situation is the most difficult thing you have to do. Education is the only way to free your child from socioeconomic barriers. So, be strong and discreet. It’s time to make a budget and save! Let’s find out what you can do. Wish your child a bright and secure future.
Early planning can be effective: Start early and save wisely
We all know the story of the grasshopper and ant and the whole strategy for work and play. Shouldn’t we follow the strategy of the ants? Every family should have its education fund to run the children’s education smoothly from nursery to college level. And it should start accumulating from the birth of the child. Undergraduate course fees in India have indeed increased by 5% in the last few years. If you have to win the war with price hiking then enter the ring early.
Make a realistic budget: Reduce costs as much as possible
Make realistic plans about things that are going to increase in the future. Make a list of daily expenses. Reduce expenditure on unnecessary areas and keep them in the education fund. Keep track of how much you are spending on a particular field of study every month. If you have to buy any expensive study-related things, like Laptop, plan early. This way you will not need to borrow.
Check out scholarships and grants: Encourage your children
A scholarship or grant is always a good opportunity. Many government and private organizations provide scholarships and grants. Some scholarships are awarded based on merit, and sometimes financial aid packages are available. Scholarships are also available based on extracurricular activities. You should gather information regarding these by contacting the school authorities. This may lighten the burden of increasing education costs.
Take an education loan if needed: This can be a viable solution
It is not always possible to struggle during inflation only with savings. You can take an education loan according to your financial capability while purchasing any expensive equipment or paying a huge admission fee. Must do enough research on interest rates and repayment terms before taking.
Stay alert: Adopt timely financial strategies
Be aware of all economic trends in the market. Regularly monitor fluctuations that may affect education costs. Regularly review your savings and records of your expenses. Adopt a financial strategy as soon as there is a change in the economic landscape. Try to prioritise your child’s education above all else.