My Life, My Decisions
                                                 (A Life Time Decision)

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The future depends on what we do in the present.         ... Mahatma Gandhi


Education



Children education is very important and it is well known that the education cost is prohibitive. Thus, if planned properly, one may have comfortable/stress free life while their children’s education is going on. Three points that are important in child education are:




Planning

 Planning therefore becomes very important. Parents/Students must start planning as    early as possible in child's life. Planning is mainly required for:



Loan


  Funding or organinsing money is generally an issue as such, allocating/saving early to     build a corpus for children's future studies must be done well in advance.
For goals some  time away, say 10 years or more, parents can look at the Public Provident Fund (PPF),  Sukanya Samriddhi Scheme and direct plans of equity mutual funds (MFs), instead of the  high-cost  child plans offered by insurance companies. If the time is short say goals five years away, one can always look at short-term debt funds through the direct route or bank fixed deposits (FDs). All these options are avaiable in saving options where one can see the calculation for varous options and then can calculate for him/herself.


Higher Education


 Presently the higher education is easier with various options.Good colleges/universities  are available both within India and of course foreign universities which are wooing  students.
  It is very important to have clarity on where, which course and for how long the child  plans to study.Ideally, parents should plan for simple and low-cost financial products/instruments, and invest systematically. Most parents are either unclear about how much to set aside as a target or make the mistake of investing in some un-productive or less productive saving options.

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