One of the most important savings goals you can have is to save for your child’s education . It is a long-term goal, especially if you start saving for your education as soon as possible.

How to manage the savings for the education


Given its importance we are going to see some important points that I think you should consider if you are thinking about how to manage the savings for the education of your children.

Keep in mind that the easier you put it on your child , on the one hand it is great because it will be easier, but on the other you lose the experience of having, to some extent, that “earning beans .

This experience can be very important later in the future so that you know how to move in the work and economic environment. That is, in the real world.

As much as you want to protect your children , something that logically is very good, sooner or later they will have to face the world of adults.

It may be better for them to face each other in some sense for the first time when they are still young and you are there to help them.

Without further delay let’s move on to the aspects that I think you should take more into account when saving for the education of your children.

Start saving as soon as possible


The later you start saving, the harder it will be to pay for your child’s education. If you are going to pay it, start on time, even with small amounts. Ideally, from the first moment you know that you are going to have a child.

Open a savings account and dedicate it to that goal. And as it is a long-term objective, about 18 years, it would also be interesting to find an index fund to take advantage of the compound interest of equities.

Of course do not touch that money under any circumstances.

Save the same for all your children

Be careful not to be too generous with the first of your children, whether your economic situation is going to get worse or not as well as you had thought and for your subsequent children you cannot save the same amount or even anything.

Even to make sure you do it as equally as possible, you should adjust the savings based on inflation. In this way even if the savings of your first child are lower, the expenses of your studies will also be smaller.

Do not harm one of your children for success

If one of your children works hard and earns a scholarship, you may feel resentful if you decide not to pay anything for your education. And then you spend thousands of euros on your brother’s education.

What will you learn from this? That hard work doesn’t matter. Not worth it.

Being unequal with your children can create resentment and misunderstanding. Keep the savings for that child for his post-student time, for a master’s or postgraduate training. Or simply so that once you finish your studies, you already have savings from the beginning of your career.

Don’t compensate a child for doing it wrong

If one of your children studies like a madman and earns a scholarship but another does not touch a book. Do not end up rewarding the second with most of the savings allocated to their education.

As it is “proving” that it is not going to be money thrown in the trash is when you should go giving the money. It can be hard but “spoiling” your children will have a more negative impact on them in the future.

Do not lie or exaggerate what you can bring for your education

Never tell him that he will have something that you cannot accomplish later. If you do it to motivate him and then find that it was a lie, all you will get is to deeply disappoint him.



In short, decide soon if you are going to save or not for the education of your children, be fair and just and don’t overdo it or lie about the amount of help.

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