Wednesday, July 14, 2010

The Dollars and Sense of parenthood

Bringing a child up to tertiary education level can cost parents between $190K and $700K. On average, it cost stands at about $300,000 to see a child through from birth to local tertiary education.

The single largest cost comes from tertiary education especially when it is overseas. Thus, it is importance to start planning as soon as possible through a discipline and systematic way. The amount required to set aside on a monthly basics will be smaller if you start early.

Financial planning is about having s strict regimen of setting money aside and investing. It will be easier to achieve financial goals when you start early because you would not need to rely too much on high-risk investments like stocks or derivatives.

Families are encourage to invest small amounts regularly since it can help to lower average cost of investing over time and help to build up a diversified portfolio that comprises a mix of stocks, cash and bonds.

Financial resources required to raise a child is substantial, but no amount of money can buy things like the joy and laughter which children are able to bring in life. They far exceed the costs.

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