Appropriate Budget

While we look at education as giving us a head start in life, we should still plan well and spend wisely.

How do we know that we are planning well for our family? We know we plan well when every member of the family is at peace and there is harmony and love between each member of the family.

This can only be achieved if every member of the family is treated equally. There should be no favouritism. Every resource of the family should be put on the table and shared openly.

Education cost can range from $10,000 to $50,000 (USD) a year or even more. While you want to go to the best university, it does not have to be the most expensive one. This means that spending $30,000 a year while your family income is $60,000 a year is just unreasonable and unnecessary.

My advice is always to prepare an amount that your family is comfortable with and choose a good university within that budget.

Of course investing in your education is always money well spent. However, spending money for education is just like anything else; you should always spend money that is within your means, within your budget and that means spending wisely.