Education is one of the best gifts you can give your child — but it’s not cheap. Whether it’s nursery or university, the earlier you plan, the easier it gets. Here’s how to save smart:
- Start early, save small. You don’t need to wait for a big salary. Even ₦1,000 a week adds up over the years. Starting when the child is born gives you a long runway.
- Use savings tools built for goals. Platforms like PiggyVest Goals, Cowrywise Education Plan, or Target Savings Accounts let you automate and lock in funds for education. Many offer interest, too.
- Know your target amount. Public schools, private schools, boarding vs. day — costs vary a lot. Calculate expected fees yearly, including uniforms, transport, and books.
- Adjust for inflation. School fees increase every year. Add at least 10–15% to your future estimates, especially for private education.
- Create a separate education fund. Keep this money apart from your main savings. Mixing it makes it too easy to spend. Treat it like rent — untouchable.
- Don’t use it for emergencies. Your child’s future is not your backup plan. Build a separate emergency fund so you don’t dip into education savings when things get tight.
👉 Consistent saving today keeps your child in school tomorrow.