When Paying School Fees Gets Tough… The Insured Gets Going

School resumption months are often a very tight period for parents and guardians who have to pay schools fees and provide other basic school needs for the kids – books, uniforms, footwear etc. It even gets tougher when you have no prior plans in place to address this concerns. One may choose to blame the economy for the difficulty often experienced in paying bills. But the truth is that no matter how the economy might be – difficult or easy, having to part ways with huge sums of money is often not so easy, especially when the resources are not so readily available.

 

Learn more about Savings and Investments

 

Are you concerned about how to pay your children’s school fees as and when due? Though it might seem a bit late at the moment for a savings plan to mitigate your problem in the immediate, you can take the following ‘fire brigade’ measures to meet up with responsibilities:

 

  • Negotiate with the school authorities to give you till the end of the resumption month to pay all or a good percentage of the fees. Though all schools might not accept this, some schools will certainly not say no to this offer, especially when you don’t have a track record of debts.

 

 

  • You might also need to cut down on some expenses right from now that you are reading this post. It is good for kids to resume with new school uniforms, shoes and bags but, where the resources aren’t readily available, you can have them manage what is available till the fees are totally cleared up.

 

Read more on How to Protect your Child's Education

 

Being in a tight financial situation can be challenging.  Wise parents and guardians often fall back to savings they have made prior to the time of need to meet their financial obligations. This is why it is essential to have a form of savings, especially one that is targeted at the future of your children. So, starting now to save for their future is a step in the right direction. As one cannot predict what the future holds, making concrete plans for the future is the best way to stead ahead of life situations.

 

Now is the time to make good plans for your children’s future. With the Leadway Education Savings Plan, you can start now to build a beautiful future for your children with a minimum of N7500 monthly. The duration of the plan is 5years but you can access 25% of your savings after the first year of your plan. It is interesting to note that a minimum of 7500 per month would result to N450, 000 at the end of 5years, alongside interests and a life cover of N1million.

 

 

Read more about Education Savings Plan

 

In a similar vein, the Leadway Education Target Plan provides you the opportunity to set a target amount you would like to save for your child. It is a very interesting plan and, in some cases, is used as an inheritance or a gift for your child at a certain age. This is a strict savings plan that forces you to maintain a savings schedule for the desired amount. If you feel you have issues in maintaining a savings plan, this plan is perfect for you. With it, you will certainly reach your target.

 

Just as you insure your cars, homes and other properties against accidents, flood or theft, the Leadway education protection plan is there to protect your kids from the scars of the loss of a benefactor. With this plan, you can insure the education of your kids for a certain period of time. Peradventure death or a permanent disability occurs during that period of time, the education of your child will be guaranteed.

 

 

Learn more about Property Insurance

 

Saving is the best way to stay above difficult financial situations. It is far from wise to take life as it comes because life is absolutely unpredictable. On the other hand, with plans put in place, you can stay ahead, always.

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