Factors Affecting Cost of Child Education

We just have to face the fact that in today’s challenging life scenario, raising children have become more expensive, but not impossible and some of the factors of that are :

1. Rising Inflation
2. Heavy Increment in Education Prices
3. Change In Life Style.

Simple Ways to Plan for it :-

Start Early - Let your money Work for Your Kids :

Investing Early can boost your child education Kitty in a significant manner , i.e. if one invest Rs. 1000 starting today for next 5 years will grow to Rs. 89,688. The same amount if started 5 years early can bring 2,78,657 to the table. It’s just the simple compounding effect which works more as you stay more in the fund. 

Top Up Your Investments :

We get bonuses, extra incomes, gifts on kids birthdays – just add that to the kitty, so that you can reach to your kids education goal early than you have planned. People in general think that Rs. 10,000 Top up investment will not make huge difference, but let me bring to your kind notice that Rs. 10000 Invested for 15 Years will become Rs. 81,370 @ 15% CAGR & if one top up his/her kitty as and when they get extra money, the goal will get completed sooner than you have planned.