Future Education Calculator

Every parent thinks of better education for their little junior! Well its good to

think of kids future education, but all good things in life come with a price tag. Most of us have limited income and with the escalating cost of living, its becoming increasingly tough to cope up. The only way to beat this inflation and come out as a winner is to take the help of insurance plans that will ensure that your child does not lag behind for lack of sufficient funds. For all those, who already have insurance or child plan, a pat on the back! For those who are still thinking about it, it's never too early to start planning and investing towards a corpus fund for your child's future needs. The sooner the better!

Many parents nevertheless go faint when they see the cost of school and university fees just how much depends on the schools and universities they choose. According to a report by the National Centre for Social and Economic Modelling for AMP, An average parent spend, on average, $50,000 on education and childcare.

Many parents pay school fees, as with most household bills, on an ad hoc basis when they arrive in the mail. About half of all parents use their general savings to pay school fees, according to a survey by Newspoll for the Commonwealth Bank. Of the other half, around a third use savings from a special education saving account, 28 percent tap income from specific investments, while 21 percent take a part-time job to pay the fees and 14 percent use a personal loan or draw down on their flexible mortgage to meet the cost.

Having the money available when children start school is a better option than borrowing to pay school fees. Paying interest on the borrowings can sometimes double the amount you would pay if you had saved the money.

So its always better to plan the things before they are implemented, but one question arises that how much money have to save monthly so that it meet up the needs ? the best answer is the Future education calculator for kids. The Education calculator for kids is a device that helps to project the exact amount that an investor has to save as well as the duration to do so in order to provide for a specific level of education expenditure. Some education calculators consider a constant rate of return. This is an appropriate tool for safe investments. Other education calculators consider volatility and decide whether a particular plan of saving and investing for education will outlast the kids education expenditure. This calculator takes into account a number of factors while calculating the amount that you want to save for the further education of the kid. This includes the present age of the kid, and at what period of time you want the money.

For more information on Future Education Calculator you can visit http://insuremegenie.com/

by: Rakesh Mishra

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