7 mantras to balance your child’s educational needs and financial goals

financialexpress.com:

All parents face a common challenge pertaining to investment decisions, i.e., how to balance their child’s educational needs and financial goals. As a parent, you want your child to go to a good school and then a premiere college or university for world-class education, which needs a good amount of financial planning to continuously meet expenses on that front. Balancing a child’s education and long-term financial planning requires strategic planning.

In present times, there are multiple investment options available for parents to meet both objectives – funding education and achieving long-term financial goals. As a parent, you can allocate resources effectively and explore diverse investment tools to ensure that you save adequately to fund your child’s education without compromising on long-term financial goals.

Investment experts are of the view that as a parent, you can overcome the complexities of financial planning by following certain simple steps like setting up a dedicated education savings account for your child, exploring investment options for kids tailored to meet their educational expenses at a later stage, and reassessing financial goals. In simple terms, you need to craft prudent financial planning and have a clear understanding of priorities for your child.

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Tushar Bopche, Co Founder and Head of Strategy, Invest4Edu, talks about various aspects of child’s educational planning and long-term financial strategies. Bopche suggests that parents should always have a proper strategy and planning when it comes to deciding about future planning of their kids in terms of education and financial goals.

“Parents