When children are born, the first thing parents start doing is to start saving for the child’s future. They invest time and money deciding what’s good for the child, which policy is going to bring them good returns in the future, what kind of school is appropriate for the child, etc.
Right from the day the child is born, the parents want the best for their child. Every parent wants to secure their children’s future.
All they want is a good future for their children. Parents want to see their children well settled in their life with a great education, good career, good partner and adorable children with a good home for their shelter.
To achieve all these dreams, one has to be focused and plan correctly for the future.
One has to foresee the challenges one may have to see in their future and be prepared for it. Working out plans to secure our future comes with saying that a lot of research and advice from elders’ help in good future planning.
Not only the children’s future, but parents also need to secure their own future once they complete the responsibilities of their children.
Children, when they are ready to take on the world should thank their parents for having planned a beautiful life for them and securing their future.
Investment in money and time, parents send children to various co-curricular classes to make them future ready and face competition. Parents foresee the trends for the future and they want their children to grow into responsible adults.
Planning for the future also means taking right decisions at the right time. When a child adamantly demands a bicycle for his birthday and the parents are tightly held on some other commitments, they prioritize their needs and make sure the child understands what they are doing.
Seeing the parents act responsibly, the child is also going to inculcate the same traits and continue for future generations.
Planning for Education
Right from deciding which pre-school the child is to be sent till the child finishes his graduate studies, parents want the best for their children.
They spend a lot of time trying to know which school is the best one for their children from all aspects.
After deciding the school, they plan a cost workout to know how much money is going towards the school fees, travelling expenses and expenses related to other activities.
Children these days are encouraged to participate in co-curricular activities that help use their time constructively and also keeps them engaged and focused in their duties. So the expense chart should also contain planning for all the activities the child is engaged in.
Sports, music, dance; children today are learning and doing multiple things. Parents should understand the interest areas of the child and let them discover their talents in those areas.
By doing so, children go deeper in their areas of choice and help them achieve striking results in the future.
Right from choosing the appropriate preschool to opting for the right language in school, parents leave no stone unturned, all in the light of the education and future of their child. After school, children have to choose the stream of their choice and enter pre-university level of education.
Here, children are further exposed to vast career choices. Streaming their choices and narrowing down on their preferences will give them the chosen area of study.
Next comes the specialization stage, where they further materialize on the kind of study they will put their entire mind into. Choosing the right kind of school and university, in a long way, helps in choosing right career choices for a sound future.
Planning for Career
After schooling and doing further studies at the college level, children are now equipped to stand on their feet and earn an income to support their family.
Planning the right kind of job and applying for the same demands right work out of career options and choosing to do the right kind of thing for a major part of their lives.
There are many who study a particular stream but prefer a different stream of work. That shows that there was a mismatch in the career interests initially sought after. It is never too late to apply and get the job of one’s preference.
After settling down at work, any person would invest part of his income in saving for his future needs. Money saved today will lead to a prosperous future tomorrow. People spend money on their daily essentials and also save to see the light of the day.
Improper planning leads to bad financial positions in one’s life and may also prevent the person from taking big decisions for his family.
The right kind of work atmosphere, choosing the right kind of projects etc are all part of good career planning. Once a person is settled at work, he may look in for investment options in the financial markets.
It is good to have a very good understanding of these options as they go a long way in securing their future and gives a hold of their own money. Some people prefer to quit jobs in the middle and plan for their higher studies.
In this case, they generally may have to opt for an educational loan and ways to repay the loan amount. Making sure that such steps do not interfere in the future planning ensures right usage of money.
Planning for Marriage and Raising Family
After education and career, the next big thing that parents plan for their child is their marriage. The big Indian weddings demand huge amounts of money be spent on lavish weddings.
Saving money for the big day is a big task in itself and parents look into many options like mutual fund investments etc. Investing in one’s health holds the best priority as the popular saying goes’ health is wealth’.
Enrolling in the right kind of health schemes makes one prepared to see any unforeseen health changes in their lives.
Raising family is a big step in anybody’s life. Choosing between one or two children and seeing if it works out in a feasible way is a big step towards future planning.
People also save for their futures in multiple ways through bank fixed deposits, recurring deposits, mutual fund investments, etc.
People borrow loans from banks and try to repay them after getting their work done. It’s good to know the interests of the child before making any career moves as this will change the very future of their lives and also associate them with the path they chose to take.
No two people have same interest areas. So it’s wise to talk to the child as to what he wants to do in the future. Tracing a path along those lines will create the right kind of career moves in a child’s life and he will be able to perform well in his chosen field.
Financial stability is brought in when a family sits together and decides on what it intends to invest in.
Making big plans for the future like buying a house or property have to be carefully dealt with as they involve a lot of money and any big loss would lead to situations of bankruptcy.
Also, there are a lot of career counselors and financial advisors to advise people to make smart moves and invest intelligently for their future.
Choosing the right kind of career path is essential and holds key importance in a person’s life. It is vital to choose the right kind of partner to bring stability in one’s life.
We must make sure to get good returns from the money and time we invest in different schemes. Doing a good analysis of the various schemes leads us to be educative and thoroughly thoughtful in handling our assets.
Asset creation for the next generation is a huge planning of the future and requires many things from banks, loans, money borrowers, etc to be involved.
The biggest asset one can provide for their children is education and securing the child’s education makes them take on their future with confidence.
Future planning with right resources and advice from elders gives one a strong foothold of what life in front of them would unfold like.
Careful and meticulous planning in all major decisions of life brings in hope and grace for welcoming a great future.