Kids grow up so fast. One minute they’re looking up to you, hanging off your every word. Whereas, the next minute they think you’re quite possibly the most embarrassing human being only useful for lifts to their friend’s houses. The other thing they have in common is future plans. Some want to be engineers or accountants, while others want to be fashion designers or athletes. Others may want to travel until they’ve visited every country in the world.
Then there are some who show all the signs and symptoms of wanting to pursue a career in law (see lawyers who deal with car accidents for an idea). Being a lawyer is choosing a career with a good future. It is a career with transferable skills that will mean your child is never out of work.
The only problem is that financing such a career choice isn’t always easy. However, there are ways and means of securing funding for degrees. But the general expenses associated with a law career law could be more demanding on your rainy-day fund than you can imagine. With that in mind, let’s look at how you can save for your child’s law degree.
Get the Ball Rolling Early
If you are forward-thinking enough to open a savings account for your child’s law degree from the day of their birth, kudos to you. But if you ‘forget’, it’s never too late. Getting the ball rolling as early as possible with a savings account is key to cracking open that piggy bank and finding gold, rather than finding a button and two old coins that aren’t even in circulation anymore.
Don’t be afraid to be cheeky when it comes to birthdays either. Ask family and friends to contribute towards the savings account, instead of spending their money on meaningless junk.
Last Minute Clear Outs
People accumulate a lot of possessions between the years of birth and flying the nest for university. Hobbies and interests over the years come and go. This is the perfect chance to clear out all of the possessions you don’t need to keep anymore.
Think musical instruments, sporting equipment, gaming systems, bikes, phones, laptops, gym gear, and even clothes. You could literally make a small fortune with some quick sales through downsizing your home.