“Education is the most powerful weapon you can use to change the world.” 

    – Nelson Mandela

Education is vital for students. There are no two ways about it. After all, it opens up doors of opportunity and high-profile careers for them! Naturally, parents are eyeing the best institutions with the hope of a securing and promising future.

However, getting into the best schools or colleges isn’t an accident. You’ll need to plan for it early on in life. So, let’s talk about the steps you need to plan your child’s education.

A 4-Step Plan to Get Your Child the Best Education

Calculate The Total Education Expense

Before planning your children’s education, have a rough estimate of the total education cost to have a target figure on your mind.                                                                                                                                                                                                                                                                                      While calculating the target amount, calculate the maximum expense right from nursery to graduation. So, add all education expenses from the nursery, middle school, high school, college and undergraduate studies. Now, take inflation into account and start planning accordingly.

Once the target is set, start chalking out the path to achieve it.

Know Your Finances

You can’t get to where you want to without knowing where you are right now. So, that’s where we start. Assess your financial situation by tracking your assets and liabilities. That way, you understand your current cash flow and can plan well for your child’s education.


Your child’s education is a matter of utmost concern. So, do in-depth research about various schools based on these factors: 

  • Fee structure
  • Education board
  • Amenities that support extracurricular activities
  • Proficiency of teachers
  • Reviews of past students and parents
    These factors will help you find out if the school is worth your hard-earned money or not. So, research before to save yourself from facing a lot of hassle.


Save and Invest 

Paying for education can be very difficult on your monthly salary. So, you’d need a hefty backup in terms of savings and investments to fund your child’s education. To have that backup ready, start saving early. That way, you’ll have a larger pool of money in the long term.

Ideally, advisors want us all to start investing in our child’s education fund from the moment they arrive in our lives. If you haven’t done so, start today without wasting any time. 

Diversify your investments through FDs, Mutual Funds, Stocks, Gold Bonds, and Cryptocurrencies. With the right mix, you can generate excellent returns and reach your target amount.


Final Thoughts

Education can make and break one’s entire life. So planning for children’s education in advance is a must. Hopefully, these steps helped you plan out your financial needs well.

If you need further assistance in financial planning for your child’s education, contact our experts at Sanskriti The School. We’d love to help you out!