Are You Saving Enough for Your Child? – Infographic
We all know that putting some money away and saving for our child’s future is one of the most important and rewarding things we can do in life. While you may already have arrangements in place for this and regularly put away money for you child, we do well to ask ourselves the question from time to time ‘Am I really saving enough?’.
There are a variety of reasons why we might need to review our savings habits at times, with changing circumstances and greater financial awareness being just a couple. For instance, has the low interest rate environment of recent years severely affected the potential pot of money your child might receive once they come of age? Have you factored in rising university costs or rising house prices into your child’s savings plan, if this is what you are intending to use the money for? Or, are you much more aware now of how far money really goes than you were when you first set up a savings plan for your child?
If these questions have got you pondering over the amount you currently save, then why not take a few moments to review the below infographic produced by financial mutual Shepherds Friendly, which discusses the question ‘Are you saving enough for your child?’ in more detail. Hopefully the infographic will help you to make an educated decision as to whether you are really saving enough or not.