Nicola Field 
Investing in Your Child’s Future 
Financial Planning for Your Child’s Education

Most parents dream of giving their children the best possible
education. However an education – primary, secondary and
tertiary – costs money. Parents of a child born in 2006 can
pay approximately $250K for a child’s lifetime education according
to the latest research from the Australian Scholarships Group. And
costs are constantly on the rise.

Investing in Your Child’s Future is aimed at parents and
future parents, grandparents and other family members, and covers
children’s education from pre-school to tertiary studies. It is
designed to show readers how they can secure and contribute to
their children’s future and can benefit from a higher education at
the institution of their choice, without sacrificing their
lifestyle or financial security, and regardless of their income.
Investing in Your Child’s Future shows readers how they can
finance all, or some, of their children’s education by planning
ahead, implementing simple strategies and saving money as early and
as regularly as possible.

When your children are young, it’s easy to delay funding their
education as it is not an immediate expense. However, education is
a major expense, regardless of whether you choose a private or
public education, and the sooner you start saving, the more money
you will accumulate, and the sooner you can stop worrying about
your child’s future.

Table of Content

Acknowledgements vii

Foreword ix

Preface xi

1 Education — never more important than today 1

2 Thinking through the choices 19

3 Capital punishment … a closer look at the costs 43

4 Scholarships, bursaries and other low-cost options 63

5 Freeing up money for education spending 77

6 A personal project — investing directly 97

7 A class act — investing indirectly 127

8 Help is available! 149

9 Off to school and into the red 163

10 Beyond the school gate 179

11 Surviving uni 193

12 A final word 219

Appendix A — Useful resources 221

Appendix B — Summary of saving and investment options
225

Notes 231

Index 237

About the author

A journalist for more than eight years, and a former chartered accountant, Nicola Field is a regular contributor to a number of successful magazines, including Money Magazine and Real Living. Nicola Field is the author of Baby or Bust: Financial Planning for New Parents and parents-to-be, described by Paul Clitheroe as providing ‘a wealth of useful information to help new mums and dads chart a smooth financial course for parenthood.’
Nicola lives and works from home in the Upper Hunter Valley of New South Wales with her partner, four children and a growing assortment of horses.