Saving for education, it’s something that we often put on the long finger. There are so many other priorities, especially when children are small. But there’s lots of reasons why saving for education is important. And it’s never too early to start.
Recent research showed that over a third of Irish parents had no savings in place for their children’s education. It was estimated that the annual cost of sending a child to college could be between €5,000 and €10,000 a year and even more if they are living away from home. That’s a substantial sum over a number of years of third-level education, especially if you have a couple of children.
We all want to give our children the very best in life. A good education is part of that. It may seem early to start but time does fly. As part of your overall financial plan, you can look at how to start putting a little aside regularly to cover future education costs.
There are lots of investment savings plans available for anyone looking to start saving for education. These range from low-risk investments to more adventurous options.
The first step to selecting the right one is to talk with a professional adviser who can tailor the right solution for your needs.
If you need some help in getting started, we’d love to hear from you, just get in touch.