As a child makes it’s way into the world, the parents are proud that they have provided for all its needs.. Or have they?
We live in a material world. As the child grows, so will the expense. Clothing, sports equipment, bicycles, music and so on. You need to incorporate this expenditure into your financial plans now to avoid disappointment in the future!
What if one or both of the parents becomes ill or dies? Will those who are left to care for the child have financial security?
School and university seem such a long way in the future, but a private education and university fees can be very expensive, so it pays to think about providing for these costs now.
Your child is attending school for the first time and whilst this is a proud and emotional moment, it can also prove to be an expensive one. Whether your child is attending a private school or a state school where trips and visits are high on the curriculum, you need to prepare financially.
If you haven’t made any provisions for this, the costs can be crippling, particularly if you have more than one child. The sooner you can start planning for school fees the better.
Another proud moment. Your child has been accepted at university or college. If you planned correctly for your child’s education, you should be able to cope with the cost of supporting your child at university or college for the next three years.
If you didn’t, you may have to look at alternative means of funding. A call to your Financial Planner will help you to make the right decision and allow your child to focus on making the most of their university or college experience!
Independence at last and an income to dispose of! No matter how much money you earn in the future, there will always be the capacity to spend it. But it is likely that some major costs lie ahead. The new car, the first house, marriage, children, etc.
Planning for these events now could save a lot of pain and disappointment later on.
Also, although retirement may seem a long way off, planning correctly now will give you peace of mind when that time comes.
At Anderson Brown our team of qualified financial planners have years of experience and can help you plan to ensure that you and your family are financially secure now, and in the future.
Call us on 01947 600 057 where one of our expert advisers will be happy to answer any of your questions.