Growing My Finances.

While a family may save for years for the children's education, there are ways that this saving can grow a little faster.

The secret of a good savings plan is to invest wisely.

Many years ago, my husband and I took a part time Saturday job to earn a little extra for the family. Very soon, we have enough to put aside a small sum of money to buy a property. We rented the house to help us pay for the monthly mortgage instalment.

When our eldest daughter went to university, we sold the small house to finance her education. Today, she is a Global Marketing Manager of an international petroleum company. The investment that we put in her education is money well spent.

However, not everyone should invest in property. This is because all investments carry risks. So we should invest in an area that has minimum risks and within our capabilities to manage. Some parents invest in stocks and bonds and they can also do very well. Parents can talk to a financial planner to help them decide.

It is best for parents to get ready the funding at least 3 years before the child goes to university. Keep the money safely so that there will be no anxiety when the time comes to use it.