Saving while living in one of the most expensive countries for education
Sep 9, 2017, 02:12 AM
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Last week, we saw that the UAE ranked second in terms of how high the costs are when it comes to educating a child. It is no doubt that the quality of education in the UAE reflects the value of costs but for parents trying to save while paying these high fees, there are many changes to the family lifestyle that may need to take place.
Having said that, there are a few means of accessing quality education without breaking the bank. Research is key when trying to identify an educational institute that suits both the future you envision for your child and your financial capabilities. It is natural to find high prices at first glance, but a consistent approach of probing for a variety of benefits per school may lead you to find a host of opportunities that would enable you to afford the school. Some of these benefits may include alternatives to attaining cheaper tuition rates by use of sibling discounts, partial scholarships or even instalment plans that would allow for more flexible payment options.
It is tempting to imagine that these financial options may be easily available; however, in a competitive environment where many parents may be seeking similar opportunities, this is not always the case. It is therefore advisable that parents commit to alternative means of financing their child’s education by either budgeting or through tested financial plans that would enable them to save and hit their target.
With National Bonds, regardless if you are a parent or planning on having children, you can access flexible and trusted plans that can enable you to save on a monthly basis. While myPlan may be a perfect opportunity to begin your savings journey, investing in a plan such as Sanadi will add a layer of security to your financial stability, ensuring that your children’s future remains steady, even in unfortunate moments that may include the loss of a job, the onset of a critical illness or the passing of a breadwinner. Planning ahead means protecting oneself from every angle, and while financial alternatives are enticing, it is a firm commitment towards saving that will safeguard both the success and development of your children’s academic aspirations.
