How Can Online Schooling Help You Invest More In Your Child’s Future?

Online schooling comes with a host of benefits. With the cost of traditional education rising to 12% a year, the personal savings you could realize through online schooling is quite clear. These savings don’t just mean extra disposable income in the short run, they are potential investments to secure your child’s future.

How do you save because of online schooling?

No additional transport costs:

On average, you spend anything between INR 9000 and INR 15000 every term to send your child to school by bus. Those who have chosen online schools like 21K School save up to INR 45,000 a year. More often than not, these costs are hidden in exorbitant school fees.

Lower medical bills:

This one isn’t as obvious as the other reasons. With your child safe at home, you aren’t exposing them to the ever-recurring common cold at every turn of the season. With rising medical expenses, these savings can add up to quite a bit.

Minimal to no uniform costs:

Some online schools require children to have school uniforms, even then, with the reduced wear and tear, you won’t find yourself buying a new set of uniforms every term.

Less expensive fees:

Of course, you want your child to access the best education. Traditional schools that provide a choice of international curricula comparable to 21K School and a particular quality cost anywhere from INR 900,000 to INR 16,00,000 yearly!

At the very least, traditional schools cost about INR 50, 00,000. That is, up until the twelfth grade. Private schools that offer suitable extracurricular activities and options of international curricula could set you back well over INR 1.5 Cr during the same period.

How do you invest in your child’s future?

1. Choose a reliable online school

Online schools undoubtedly help you contain costs and save money. The best way to invest in your child’s future by saving money is to send them to India’s best online school, 21K School. Not only does your child get access to everything they want and need to learn, you also save significantly to make smart investments for your child’s future.

2. Find ways to get earnings from your child’s art

Schools that care about your and your child’s future develop great plans for you. Schools like 21K School convert your child’s art and other craft into non-fungible tokens (NFTs). The earnings gained from these NFTs go towards your child’s future.

3. Invest in child insurance plans

Child insurance plans invest a portion of your premium in higher-than-average return options and can be cashed upon maturity.

4. Invest in gold or ETFs

You could buy some precious metal, rent a locker to keep it safe or invest small amounts over time in gold ETFs. These electronic investments allow you to purchase gold without worrying about keeping it secure. When the gold markets are ripe, you can sell your units, invest elsewhere, or buy more gold.

5. Sukanya Samriddhi

Sukanya Samriddhi accounts enable parents of the girl child to earn up to 7.6% annually from investments. You can choose to save for their higher education or even their marriage. This scheme is run by the Indian government and is a safe investment choice until your daughter turns 21.

6. ULIPs (Unit Linked Insurance Plans)

With ULIPs, you need not worry about inflation as much as you do with many other investment options. Part of the payment goes towards insurance if something unfortunate happens to you. The other part is invested in capital markets and generally generates a relatively stable return. However, you must research all ULIP plans available and pick the one that suits you best.

7. Post-office savings schemes

Post office savings schemes have been around for a very long time. They are known to be safe and generally offer a competitive rate of interest. Safe investments like these are a great way to ensure that the money you save by sending your child to an online school, is used for their future.

8. Stocks and mutual funds

Of course, the stock market is one option. However, make sure you do your research and are prepared for fluctuations. While this is riskier than many other options, it will likely yield the best returns for you.

Tips to make sure you invest right

While your approach to investment may vary, there are a few tips that every parent needs to know.

1. Set clear goals: Set clear goals of how much you want to save. It will help you plan your budget and ensure your savings are consistent.

2.Be future ready: The economy can sometimes be unpredictable. It is best to invest in multiple saving options and hedge your bets. Don’t go for only high-return investments that are often riskier.

3. Start early: This may be the most prudent advice. Start putting money aside as soon as you can. Any parent who has raised a child to adulthood will tell you, time flies. Make sure you start your investments early on.