Financial planner can assist you : Survey outcome... 81% parents are unaware about cost of higher education in future, hence not saving enough !

Feb-2011

Source : avivaindia.com

The outcome of the survey Aviva Young Scholar Insights, conducted by IMRB in year 2011, encompassed 11 cities across the nation - Chandigarh, Lucknow, Delhi, Kolkata, Bhubaneshwar, Mumbai, Ahmedabad, Hyderabad, Bangalore, Kochi, Chennai.

81% - parents are unaware about the cost of higher education in the future and hence are not saving enough.

72% parents continue to save for the child’s education over protection and retirement.

57% parents get additional coaching to supplement studies at school, which increases the overall cost of education for the child

51% parents believe that Insurance is the most effective tool to cushion the child’s education cost.

39% parents are concerned about the cost of child’s education in the future.

30% - mention that they are more concerned over the ‘expenses’ incurred on the child’s education than the quality, admission, performance or marks.

19% parents want additional funds for child’s education as soon as the child approaches the 10th boards.



Most parents are unaware on the exact cost of the child education arising in future and end up under saving for the child. Sometimes it leads to wrong investment decisions jeopardizing the family finances. Hence, it's very important that planning for the child starts early in life to ensure the funds required at various stages gets accumulated without hurting other life goals.

There are many factors which will be important in your child planning.

But a financial planning approach starts with identifying your requirements and planning for contingencies.


Take the services of a financial planner so that you have the right roadmap drawn for your child future.