In the past, the problem of paying for education was one that concerned only the wealthy. These days it affects many parents and their children and especially those living away from their home country. Everyone wants the best for their children and with a bit of forward planning and sound financial advice, you should find that providing a privately funded education is not a financial nightmare.

By far the most important issue is to plan ahead and make a commitment to saving towards your objectives whilst the children are still young as this allows plenty of time for the accumulating funds to grow. Whilst any windfalls you may get by way of an inheritance or gift from the children's grandparents may help, even a modest regular monthly investment can accumulate a substantial school fees pot after a few years, thereby reducing the burden of having to funds these costs from earned income when the time comes.

You should also remember to ensure your family can carry on paying for school fees even if you can't by having enough insurance to cover the entire period of private education if you die or become unable to work.

Our examples and calculators will give you a general overview of things to consider and figures and possible solutions and strategies. Are your education fees plans on target?

 

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