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Everything you need to know about savings for the college your child will attend

Everything you need to know about savings for the college your child will attend

The financial savings for the child's university studies are becoming an increasingly present concern of parents. The places of the state-subsidized faculty are on the verge of extinction, and the universities in Romania are beginning to gradually align with the western standards and become a payment education. Under these circumstances, the withdrawal of the money for the college must start from the birth of the child.

Saving and raising money for the payment of education is not a very well developed custom in our country, but it starts to become, because of the very high expenses involved in the maintenance of the child in such an institution.

In addition, the amount of money put aside can open many educational and professional opportunities for the child, such as the chance to study at prestigious colleges around the world. It's not too late to think about college, even if your baby has only a few anisors or ... a few months!

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How much does your child's education cost?

Child allowance

From birth to the age of 18, when you finish high school, your little one is entitled to a school allowance. Even if the amounts are not large, saving money is a contribution to the child's academic future and it is worth considering.

Piggy bank

Consider the idea of ​​saving money through a classic method: the piglet. While you educate your child to understand the value of money and you learn to raise money at the little pig to buy various things, do the same thing, only at a higher level.

An option worth considering is the collection of money from various sources and from important events: grandparents, relatives, baptisms, birthdays of the little one and keeping them in the bank or home or on a special card for the faculty.

Do not disregard the small business (coins, small notes). A lot of parents collect coins in special devices and exchange them in banknotes at a certain time. You would be surprised to find that valuable sums are collected if you patiently squeeze every penny and worry about changing them.

Grandparents' contribution

Grandparents are so happy and proud to have a grandson, that I do not know how to please them at all and to ensure a brighter future. From the little they have, the grandparents give generously money for the future of the child.

Collect them with sanctity, as you can do with the amounts obtained at baptism or at the little boy's birthdays. With the passage of the years, you will find that the amount is not so small and that if you also occasionally place a sum, how small, the savings can be quite large.

The contributions of grandparents, together with the allowance or the child and an investment banking fund can ensure a bright academic future for the child.

Bank accounts

Investment funds, insurance policies, term bank deposits - these are all offers that banks have to help you save money for studies.

There are also in Romania modern methods of raising money for the faculty, outside the traditional method of putting them "at the mattress". The children's investment fund is a very advantageous investment, which opens with very small amounts and provides a lot of facilities and benefits to parents.

Banks compete in offers and bonuses, so in addition to interest, many of them also offer life insurance and provide free educational and professional counseling for the child.

EduPlan Education Saving Plan, offered by BRD Asigurari de Viata, is a medium and long term savings plan, which will help you to accumulate the money needed for the essential expenses of the child's studies, when he or she is financially dependent on the family, to turn them into reality of his dreams and you can offer him a secure future from a financial point of view.

Tags Money saving Children allowance