Pic courtesy: Stuart Miles of Freedigitalphotos.net

I still have that moment of birth of my elder son in front of my eyes crystal clear even 14 years later. I remember praying hard to all the Gods in the Universe to just let him be healthy. Yes, as a new mother that was my biggest wish. Let my child be healthy, God! What did I know that the wishes will continue to grow manifolds as he got older?

Four years later, we were blessed with his brother. Our little family was complete. But our journey as parents had only begun. As the elder son stands on the cusp of becoming a young man, as a parent I want to give him everything that he aspires for. I know he has a million dreams. He has so many interests and aptitude that it overwhelms me. As far as possible, I want him to pursue his heart. As a parent my role is to guide gently and provide him all the opportunities that will let him spread his wings and reach out for the stars. Isn’t that what each parent wants at the end of the day?

Que sera sera (Whatever will be, will be)! 

So, what do we do? Leave it to fate. Is the future really not ours to see?

That would be a very simplistic view and would not work in today’s world. Today, we save; we invest so that we will have enough to finance their dreams. But, to tell you the truth, my mind just boggles at the rising cost of education. Even their school fees are hefty at the moment. I break into cold sweat just thinking about how much will be enough for his higher education. Maybe, he will wish to study in some University abroad. The cost of that education will be completely out of our reach. I have no clue how much that will be.

I think it is important for every parent to be prepared not only to let go of their kids to chase the stars in their eyes as difficult as the separation is. But even more so to be prepared financially by staying one step ahead and by doing their homework in finding out every avenue that makes them multiply their savings.

That’s where I guess smart investing is a step that I advocate to all parents. You have to make your money earn you more money. Hence every penny that you invest prudently now will help you beat inflation and taxes and yield you a good payback. Apart from regular financial instruments like PF, FDs etc. which are long-term tools, I also invest in mutual funds. I get the benefit of investing in it by competent folks by going for top-rated mutual funds.

I know of many people who push investments and managing their finances on the backburner calling it complicated. Not me. To be financially fit and secure my children’s aspirations, I read regularly and do my homework about investment.

Speaking of homework, when I came across the #DoYourHomework video below, it intrigued me. After all it is the children who are asked to do their homework not the parents! And homework is never fun. But seeing the video actually made me realize how important it is for parents to do their homework. Watch the video and you will understand what I am talking about.

So yes, I need to keep doing this homework year after year to ensure that I do enough, save enough to fund my children’s aspirations.

Do you do your homework so that you are well informed and better prepared for your child’s future?

Share your thoughts in the comments.



9 Thoughts on “Are your securing your children’s aspirations? #DoYourHomework

  1. I know what you mean about rising costs. Just the soaring nature of school fees for one kid is enough to give me palpitations! We’ve already opened a fund for her plus are jointly investing in mutual funds ourselves and we are hoping that with some timely planning all this will work out the way it should. Who knows what costs will be like 10 years from now?
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    • We are doing the same. And to think that we have two children to educate! Phew! Frankly, I don’t even know how much money it will take? So investing regularly. Glad to hear that both of you are conscious and doing enough for Gy’s future education.

  2. Lata Sunil on January 29, 2016 at 1:16 pm said:

    We have been planning for our sons futures for sometime now as we want to give them the best. Hopefully, money will not be a critieria for them for selecting their careers.

  3. Given the inflation and rising cost of education, makes sense to educate and invest early. You are doing the right thing.

  4. We went crazy doing the research, Rachna. In fact, I remember praying hard that Vidur would get admission in KV – as the private schools were ridiculously pricey – especially because we had a load of financial commitments at the time and were also trying to squeeze out a saving. I think the best thing we did was to encourage Vidur to do his homework 🙂 and study well, so that we could, in turn, do ours in terms of building his future. I shudder when I hear how much has to be invested and spent on higher education these days. Competition is rife and choices many. Good thing is children are savvy about their options, bless them! My blessings to your sons who, I am sure, will make you very proud parents.
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  5. Wishing your sons all the best. A very interesting video that I had seen via Vidya’s blog. Would be interesting to see what avenue the kids pursue when they grow up. Securing funds for education is a wise thing to do. Thankfully the cost of education in NZ is very affordable if you earn in NZD, And the govt here provides low interest loans to university students repayable when they start earning. My daughter finished paying her loan last year. Yes I could’ve paid it off for her but it was a good learning for her of the value of hard earned money and she was so proud she achieved that all on her own. Sometimes not helping is the best thing you can do.
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  6. Right now, our kids are in public school but the huge cost of college and universities is really concerning for us. We don’t want them to take on student loans and be crippled for life but even scholarships are so hard to get! I agree that it is unrealistic to put these things at the backburner nowadays!
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  7. It is really tough to manage the money-related matters as of now due to increasing costs of education. You pointed it out with brilliant words. Wishing great career for your sons. Good luck for your efforts 🙂
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