Along with saving for retirement and buying a house, education is one of life’s major events and a critical investment parents, families and communities can make.
There are many options available to parents and individuals when it comes to saving for education. Selecting the right one can make a big difference in helping you reach your goals.
For all but the wealthiest parents, there will be no one solution and funding the rising costs of education will require a combination of specific savings and finding the money from ongoing cash flow.
Like most parents you may find that you need more money during the final years of secondary education when education expenses are at the highest, and when you have multiple children in secondary and post-secondary education at the same time.
But first, let’s share some things you need to factor into your decision making.