Jakarta, CNBC Indonesia – At a time when education costs continue to experience inflation, those with a salary of IDR 5 million or the equivalent of the DKI or Bekasi provincial minimum wage (UMP) may have difficulty collecting it.
On the other hand, expenses in the form of children's education costs are expenses that every family must pay. Because if not, then the child's future could be at stake.
So what steps can be taken to raise funds for long-term children's education? Here's the review.
Do a search about the average cost of education
Without knowing the total expenses that must be paid for your child's higher education, you will never know how much funds should be allocated to savings or investment instruments.
It's a good idea to find out by asking directly to the university concerned or to relatives.
Be aware that education costs will experience increases or inflation. You also have to make calculations based on the inflation assumptions that you determine.
Set the investment period
If your child is 10 years old now, then it is likely that in seven or eight years you will have enough money to send him to college. Therefore, you have seven to eight years to save.
By knowing the time period for investing or saving, you can determine what investment instruments should be used.
The longer the investment period, the more flexible the choice of instruments. Meanwhile, the shorter the time period, the more advisable it is for you to choose instruments with low risk.
Working together to collect tuition fees
If you feel like your monthly salary is barely enough, remember that you are not alone in this. Invite your partner to help you collect your children's education costs.
Be routine in saving and investing, set aside money into savings or special investment instruments at least once a month.
The more funds you set aside for your child's education, the faster you will collect the funds you need.
[Gambas:Video CNBC]
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