If in the last article I talked about “How to save for your child’s education” today we go to the opposite side, reasons not to pay for your child’s education .
You may want to be a good father, right? You have started saving for your child’s education for a few years, since birth.
You are preparing for the inevitable expenses that will come from this matter and you will do the best for him. It is not like this?
Not necessarily. The key to the issue is that paying for your child’s education has added some lessons and experiences that you may not want your child to learn . In addition to that, on the other hand, it could increase its long-term financial burden .
Let’s see some disadvantages that you have to save for your child’s training.
Disadvantages of Saving for your Child’s Education
Doing a university career is not an indispensable requirement to find a good job.
Many people simply assume that a university degree is the only way to succeed in life.
This thought is not true. Or at least not 100%. Many people with very good jobs and salaries have not set foot in a university in their life.
And there are many well-paid jobs for those who do not need university studies.
Apart from that to succeed you have to work on what you are passionate about . Leaving aside how well or poorly paid it is. If you like it, if it is more a hobby than a job, the income will come alone.
And unless in Spain the university careers change radically, with the passage of time it will be less and less important to have a university degree.
If your child has never proven to be a good student, forcing him to go to college right after high school can be quite damaging to his future.
Paying for your own education teaches responsibility.
Having to actively participate in the process of finding your own resources is an experience that will highlight your child’s responsibility and maturity.
Through this process you can quickly know how important it is to be responsible for your own actions and decisions.
Paying for your child’s education detracts from training.
If you pay for education from your pocket, your child will not value it in the same way as if he had to pay for it.
It is possible that while you are spending your money each month, your child is really wasting time. And if you had to pay for it, the training would choose another type of education more in line with your interests.
If you pay for their education, you could increase your financial difficulties.
Even if you carefully plan savings for this goal, it is still money that you could dedicate to other very important goals such as for your retirement or for your emergency fund.
Instead, that money can go through the back door if your child does not value or serve the education received.
Given these factors, although it is logical that you want to save for your child’s education and that it is an important goal in your life, I think it is not good to jump into it without weighing well the pros and cons.
Not that in the end you get a very unpleasant surprise.