What is the best way to save for my child education?

I need to save for my child education. she is just 4 years of age...should i be investing in a child education plan or what?


Kindly suggest!|||Hi Priyanka,





The best way to save for you child's education is to first know how much you are going to need for her education in the future. Cost of education is rising as we all know and it only makes sense to start saving now. What you can do is predict the cost of education depending on the career she might opt for. I had found a tool which my friend had recommended called the 'Aviva Educost' (you can try googling it). it gives you an insight as to how much you money you will need for various kind of career options. this will help you save for the future of your child education.


Child education plan is a good way to save for your child's education. it helps you to focus on more important matters like her academics and rids you of your financial worries.|||I think you should go for a child education plan. This is just about the right age to invest in a child education plan. The cost of education is growing by leaps and bounds. You need to invest in a good one now. As far as i know there are certain good ones like Aviva New young scholar and LIC smart plan. Investing in a child education plan will take care of your financial troubles and you'll be able to concentrate on her studies better, which should be a priority.|||Open a PPF account and invest 70000 annually (that is the max you can invest anyway in a year). It gives 8% guaranteed return and that too is tax free. In 14 years it would give good returns.





Thanks


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