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“We don’t have to be smarter than the rest. We have to be more disciplined than the rest”. Warren Buffett. In a volatile market, many investors see their portfolios as sometimes positive and sometimes negative. So, there are some investors who asked if should we book short-term profits on our investments or if should we hold them. Read on to know what you should ideally do. Why did you start SIP? First, answer yourself why you have started a SIP. With what objective you have started your investments? Generally, people save and invest their money with long-term objectives like saving for a child’s higher education, retirement, buying a house, buying a car, etc. Mostly we make investments to achieve our financial goals. The volatility in the market will always remain there, but we need to stick with our goals and investments. When should you book profits? Investments in mutual funds should be based on financial goals. If you have achieved your financial goal, then you can book profits or redeem your units to utilize the amount for that specific goal, or you can book profits when you are near your goals, and you have achieved your financial target, or if your fund is underperforming. In such scenarios, you can book profits. Majorly investments in mutual funds are for long-term financial goals. You should avoid booking short-term profits on your SIP. Additional read: What are alternate investment funds? What if the market crashes or falls? In case, if the market crashes or falls, then should either consider it as an opportunity to buy at a lower level or remain invested with your SIP. Don’t get fear out with the fall in the market. In the short-term, the funds or market may not perform, but in the long-term market has generated positive returns. Nifty 50 Performance in 6 months and 5 years’ time frame Power of Compounding Compounding is basically earning profits on capital invested and profits as well. It’s like getting interested in interest and principal amount. The longer you remain invested the better compounding will work. Let’s understand this with an example, suppose there are two-person A & B and both are planning for their child’s higher education, but A has 10 years to save and B has 20 years to save and both have invested in equity mutual funds. Let’s see the difference in their savings amount. In the above table, we can see that person A’s invested money has just got doubled but person B’s money has grown to 5x because he has more time to save for his goal. The more you remain invested, the more benefit you will get out of compounding. Conclusion The wealth is created over a long-term period, not in the short-term. Consider investing with a financial objective and stick with your investments, don’t let the market volatility impact your decision. Only redeem or switch your investment if your funds are not performing, else remain invested and let it grow. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Comparing the expense of raising a kid with the joy of doing so can be emotionally upsetting, but it is wise to be aware of and plan for such costs. The saying "bacche do hi acche" (just two kids are good) makes economic sense given the high cost of rearing a child nowadays. The government has also embraced the proverb. The Constitution (Amendment) Bill, 2020, which has been introduced in the Rajya Sabha on February 7, 2020, contains a proposed amendment that will encourage the two-child policy to control population growth. Despite the uncomfortably high levels of inflation, these figures do not accurately reflect the hardship brought on by rising education costs because such costs are not included in the composition used to calculate price change over time. Here are a few of the costs and expenses incurred on children throughout their lives. The costs are based on average estimations based on current trends. Expenses at various life stages of your child 1. Up to pre-school In the first year following the child's birth, approximately Rs. 1 lakh is spent on baby care items, immunizations, and medications, all of which are fairly pricey in metropolitan and semi-urban areas. The first significant cost of a child's education appears when they become two years old in the form of a playgroup or daycare center. Depending on the amenities offered, this expenditure might be in the region of ₹50,000 to 1 lakh. Early in a child's life, spending on toys and clothing is significant because the child frequently outgrows them. 2. School expenses Up to 65% of parents spend at least 50% of their annual income on their children's schooling and extracurricular activities. Every parent wants the greatest education for their child, but growing school costs can often make that difficult. A respectable school collects annual tuition of ₹50,000 to 2 lakh. Assuming a 10% yearly education inflation rate, the 12 years from Grades 1 to 12 would result in an outflow of between ₹11 and 43 lakh. These expenses are separate from the child's tuition and extracurricular activities that they will be enrolled in. 3. Higher education The cost of a college education, which has been steadily rising, is the main expense causing concern for Indian parents. If studying engineering today costs, on average, ₹10 lakh, it will cost, on average, ₹40 lakh to 50 lakh in around 15 years. In the same way, it is reasonable to predict that a medical degree, which currently costs roughly ₹25 lakh, will exceed ₹1 crore in 15 years. Even after tax exemptions, parents can choose to finance their children's higher education with student loans, although the interest rates are still exorbitant. 4. Voluntary costs In addition to paying for education, a family may decide to upgrade their home to meet the privacy needs of their grown children. The expense of entertainment has also dramatically increased, particularly in urban areas. Birthday celebrations must be planned, gifts must be purchased, school-related cultural activities must be attended, devices must be handled, and so on. Additional read: What is the moratorium period in education loan? Financial planning and investments Financial planning is essential in light of the previous outflows to prevent parents from spending more on their kids than is necessary and from being unprepared for their upcoming retirement. There are also safety nets that need to be established, including getting enough insurance and setting up an emergency fund. Planning for their children's higher education is very important for parents. You should set aside roughly ₹13,000 every month for that purpose. O Over the next 20 years, if returns are on average 10%, you should be able to collect about ₹1 crore. Get a term insurance policy with a coverage amount of about ₹38 lakh to make sure that the ambition of pursuing higher education is not jeopardized by the premature death of the earning parent. If such an unfortunate event were to occur, the nominee may put the insurance payout of ₹38 lakh in a fixed deposit, generating an average post-tax return of 5% annually, to cover the ₹1 crore cost of higher education over 20 years. Conclusion In conclusion, careful planning and ongoing investment discipline will make sure a family is better equipped to handle all of the expenses without stress. Hence, other than the basic school fees, many expenses are required to be done while raising your child. This is not something to get scared of, rather with proper planning, it is not as difficult as it sounds. Nobody said raising a child would be easy, but with adequate help, it will be the most beautiful thing you ever do. Furthermore, if there is any confusion or concern about these financial issues, our team of financial advisors at EduFund is fully equipped to help you out and guide you wherever you need it. Consult an expert advisor to get the right plan TALK TO AN EXPERT

You are probably a little concerned about the recent increase in tuition costs if your child plans to attend college in a city like London. With the rupee falling against foreign curries like dollars and euros, your child’s living expenses in London will be directly impacted. Going to university is an essential step on the career ladder and you can’t delay it no matter how high the cost may be. But you can budget and invest so that your child has enough funds to sail through economic upheavals. Living expenses in London If your child wants to maintain the life they had with you in your native country, it will most likely be quite expensive, so they may have to make sacrifices! Student Accommodation When your child enters the UK, there are various places for him or her to live, and the prices vary. For example, the Halls of Residence option typically costs around ₹4,000 to Rs 7,000 per week. They might also look for rooms in houses or apartments. Rents might start at ₹3,000 per week and go up depending on the quality of the accommodation. Here is an estimate of how much you or your child would pay for basic things while in the UK: Food - ₹2,000 -3,000 weekly on food supplies. Telephone (landline) - roughly ₹1,700 - 3,000 Monthly Telephone (mobile) - starting at ₹400 weekly. DSL / Internet - about ₹400 weekly for standard DSL. Bills - starting from ₹840 per week for bills including heating, water, and electricity. Travel - starting from ₹800 per week. Study Materials - about ₹600 per week. Fun - A movie ticket costs about ₹700, a beer pint around ₹260, and a DVD rental of roughly ₹260. Of course, this is not a complete list, but it will help you figure out how much everything will cost in the UK. Whether it's studying today or in 10 years, you can use the College Cost Calculator to find out the cost of studying in London. This calculator not only takes into account the future tuition fees but also calculates the cost of living expenses to provide an accurate estimate to parents sending their children to a foreign country. These are inflation-adjusted so that you do not end up saving and investing less for tomorrow! Additional read: How to Fund your Child’s Masters in Ireland? How to cover these costs? Saving money in advance is essential for any prospective student and their parents. Even if your child is starting university within a few months, it is not too late to start saving, especially since the first few months might be the most expensive. Here are some options for student financing in the UK because sending your child to school abroad will undoubtedly strain your finances: 1. Students Loans Education loans and maintenance loans are two forms of student loans available in the UK. All of these loans are expected to be returned to the university to which your child is applying once they have completed their program. Some universities may provide a partial loan to pay some of the university fees, while others may grant a full loan to fund university studies. The living expenses in the UK are covered by a maintenance student loan. 2. Grants and Scholarships International students can apply for a variety of scholarships in the United Kingdom. Scholarships can be need-based or merit-based. Scholarships are available through certain universities, as well as through government or non-governmental organizations. Some of the leading universities in the UK, such as Oxford University, University of Cambridge, and University College London, are known to provide grants and scholarships worth up to ₹26.5 lakhs per year to international students. Some popular international student scholarships in the UK are listed below: Inlaks Scholarships Cardiff India Scholarships Chevening Fellowships GREAT Scholarships Charles Wallace India Trust Scholarships British Council Scholarships for Women in STEM 3. Part-Time Jobs Because of the easing of regulations governing the UK work visa, it is now simpler for international students, particularly Indian students, to obtain a part-time job. Your child can work up to 20 hours per week at the degree level if they have a full-term visa during the study time. Part-time work in fields such as marketing, accounting, healthcare, and education is usually more rewarding. 4. Teaching and Research Assistantships Your child may even be able to finance their studies in the UK using research assistantships. This type of student finance is available to students seeking higher education in the form of a Ph.D. or any other related PG degree in the United Kingdom. Students are typically compensated based on a specific number of hours worked, a fixed pay, or a fee exemption through scholarships. 5. Alternative Funding Sources Other student finance possibilities in the UK include travel grants for specified periods, awards for specific disciplines such as healthcare, nursing, and others, NHS support for dental or medical studies, and funding from outside organizations. Sending your child to study in the UK is not easy, especially due to the exorbitant cost, but there are ways to ease these up and make it possible to fund their studies. Always go through all the funding options available before choosing one from multiple sources to be clear. If there is still any confusion or concern, the team of financial advisors at EduFund is just a call away to clarify any doubt or even gain information about these aspects. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Saving for the future is critical for everyone to achieve their financial goals. Some people want to save to accumulate wealth, buy a house, buy a car or see their child settled abroad. One may not want to save just to beat inflation; some people save and invest to achieve their short-term and long-term goals. Tips to save money in the future 1. Create an emergency fund The first step towards saving is to start with creating an emergency fund so that you do not want to disturb your financial routine if any emergency arises. There are many formulas to create an emergency fund. One way is that you can create an emergency fund for six months of your expenses. So, in case of situations like job loss, your emergency fund can take care of your expenses till you find another job. You can park your emergency fund in liquid funds so that the liquidity is maintained. Start Investing in Mutual Funds 2. Make a monthly budget Making a monthly budget will help you to save money in a better way, as you will be able to identify and analyze your income and expenses in a better way. In this step, identify all your income first and then expenses, where you are spending the most of your money. Making a monthly budget will assist you in segregating income and expenses into different categories. To create a proper budget, you can follow the 50-30-20 rule. It says that 50% of your income should go towards your needs, 30% for wants, and 20% for saving and investing. By following this rule, you can manage your monthly budget. 3. Spend wisely  Spending wisely is as critical as making a budget. After making a budget, you can evaluate where you can cut down your unnecessary expenses. And where you do not need to spend your hard-earned money. For example, you may have bought a monthly subscription to some adventure park, but you may not be utilizing it. So, you can cancel your subscription and save a lot of bucks. Also, don’t take quick decisions in buying things. Evaluate its cost and usage, then make a thoughtful decision. If you spend wisely, then you can make a huge difference in saving for the future. 4. Set goals  The next step is to set your goals both short-term and long-term. Categorize your short-term and long-term goals based on their priority. And start saving for them. For example, sending your child for higher education after ten years is an example of a long-term goal, but paying for the school fees in the next 11 months is an example of a short-term goal. Identifying and prioritizing your goals is very crucial. Some parents could have a short-term goal to pay for a child’s higher education. So, it is essential to prioritize your goals based on time availability to achieve them. Additional read: How to save money to buy a house? 5. Create a savings plan  After deciding on your goals, create a savings plan for each goal. Try to save a fixed amount for each specific goal. Evaluate the cost of your goals; save and invest some money to achieve your target with ease. For example, if you want to send your child for higher education in the future, and the cost of IIM Ahmedabad in 2030 may cost Rs 60 lakhs, to save Rs 60 lakhs in the next eight years, you need to save and invest Rs 34000 every month in such asset class which can generate 14% annualized returns over the period. So, it is important to create a savings plan for each of your targets, such that you know how much you need to save and for how long. Before investing your money in any of the asset classes, please do thorough research on it. 6. Review the plan  After creating the savings plan, try to do a yearly review of the same and see whether the savings and investment are on track or not. If they are not aligned with your goals review your savings plan and make the changes accordingly.  Conclusion There is no one best way to save for future goals, in fact, there are multiple routes you can take to create a financial plan for yourself and your family’s diverse needs. Saving for the future will make you financially independent and free. It will also be going to help on rainy days without impacting your finances.  Following these steps could be difficult at the beginning, but after some time, these steps will change the way you spend and save. TALK TO AN EXPERT

As per-student.org, “Blockchain Technology is the most demanding online course for students.” Furthermore, Business Insider Intelligence declares its exponential growth in the healthcare industry at a CAGR of 70.56% in the upcoming years. Online courses for school kids are fast growing in the new normal world, and most parents are curious about the expenses associated with online learning.  Let’s explore why. Growing costs of online courses for school kids Some online courses for school-aged children are a more affordable option since they provide a greater education at a far lower cost. It is important to stress that the average cost of online courses for school kids is still a sizable investment. Many parents started their search for a course under the impression that online education would be quite reasonable.  Online courses are gaining importance Online learning emerged as a safe and feasible option during the pandemic. Before the pandemic, the worldwide eLearning market was seeing rapid yearly growth. The eLearning market is predicted to expand at a compound annual growth rate of 9.1% from 2018 to 2026, reaching $336.98 billion by 2026.  A wide range of large-scale open online courses has emerged in response to the new employment channels and career possibilities that have already replaced traditional careers. Additional read: Does an education loan cover living expenses? Popular online courses for kids in 2022 Computer online courses related to -  coding applications data science Social and digital media management entrepreneurship and management psychology graphic designing Visual effects and film-making Foreign languages are among the courses available Costs of online courses The majority of the online courses are paid courses. When overseas universities and institutes offer these courses, they can easily cost a few thousand. Even a 10-day program may assist students in improving their overall resumes and gaining an advantage in further education in India and overseas.  Online courses for school students cost up ₹35,000 - ₹1 Lakh, depending on the popularity and course duration. The reason is the huge competition among peers. Parents aim to encourage discipline and keep children engaged in nurturing skills with online courses. These courses help children remain ahead of the learning curve. The whole advancement and competition are affecting the financial bottom line. As Statista puts it, “the average monthly income of a middle-class Indian is ₹15000 - ₹ 20,000.” Given the statistics, there is hardly any flexibility for online course fees. The parents are stuck between managing dreams and attending to necessities. Indian education industry Future valuation The Indian online education industry was valued at ₹247 crores in 2016 and is anticipated to reach ₹159 hundred crores by 2021. Simultaneously, the proportion of paid online education users is expected to reach ₹77 Crores by 2021. Because these calculations do not account for the COVID-19 pandemic, it is very feasible that the estimated estimations may fall short of reality as even more learning is brought online Trends in Online Education The drive for skill enhancement and skills training has increased the demand for online certification courses. As per weforum.org.“ The number of online learning users touched 747 crores in 2021”. This is bound to increase in the upcoming years. Almost 70% of the students have enrolled in online education to acquire a new skill or enhance their means of employment. Students gain skills without disrupting their study schedule. Top Trends in Online Education 2022: Does an education loan cover living expenses? Gamification education Reality Extension Honing communication and management skills AI-powered teaching lessons Bite-sized lessons for easy comprehension The personalized learning experience with analytics Invest, plan expenses, and hit short-term goals with Edufund Parents can categorize their short-term objectives depending on their duration and priority. Goals such as an emergency fund, school fees, and debt payments are critical. The cost of education in India will increase amid slow financial growth. Parents should be more focused when selecting an investment product for their short-term goals.  Parents can select investing strategies that last little less than a year and meet their short-term goals easily. They can choose the relevant SIP fund as per their income or business revenue. The platform highlights some important child education goals that guardians can save for. Choose and decide per month contribution and years until you wish to save. Once done, the platform reveals the total amount you could save given the expected inflation. You can reduce or increase investment accordingly and track the same.  Parents must build a good structure, plan, and set up when deciding on a short-term investment. Online courses help develop overall child personality. Planning once the child turns 10 is preferable. It helps budget early and invests according to short and long-term goals.  Consult an expert advisor to get the right plan TALK TO AN EXPERT

With the current increase in land costs, construction material prices, and labor charges, it is becoming difficult for middle-class families to fulfill their dream of living in their own homes.  Tips to save money on construction costs 1. Hire a good architect and contractor Although working with a qualified architect and builder may cost you money, overall building expenses will be reduced significantly. In reality, a competent architect may assist you in maximizing the space at hand while minimizing material expenses and ongoing maintenance expenditures. The bulk of cost overruns is the result of needless construction process delays.  Using a qualified contractor who strictly adheres to deadlines and completes the project on time is simple yet efficient cost-saving advice. For ideas on reputable architects and contractors, speak with your friends and family who have just built their homes. They can provide you with some great suggestions based on their own experiences. Once you have chosen a contractor or architect, the following step is to draught a detailed agreement. Make sure this agreement is clear about everything, including who will receive the building supplies, the exact costs, the project completion and payment dates, and the repercussions of any delays.  Contractor fees typically range from 8 to 12% of the total cost of constructing a home. Even if it would seem attractive to try to manage the building yourself to save money, bear in mind that you will need to pay subcontractors or supervisors, so you can't save the entire amount. Choose a simple house plan, nonetheless, if you do have the time to manage it yourself. 2. Hire specialists who are qualified and experienced Whether you are looking for building builders, architects, or interior designers, it is always a good idea to choose qualified and experienced experts who have been in the business long enough to be highly competent and aware of the best and most recent techniques in the market. 3. Choose the right plot for construction  The plot level is essential when it comes to building a house, first and foremost. Choose a plot of land that is both even and level with the road. If the plot is uneven, rocky, or much lower than the road level on the front, the cost of the construction as a whole might increase. This is because leveling the ground will require additional materials or equipment. 4. Purchase your building materials It might be expensive for a subcontractor to cover many projects' material costs at once. Consider offering to buy timber, wiring, or siding directly from the supplier by the specifications given by the subcontractor and paying the supplier in full as you will be charged for these items otherwise. If someone else purchases the materials, subcontractors could be prepared to slightly lower their prices. Additionally, suppliers could give a little discount for paying in advance. 5. Compare shops to get the best bargains The more effort and time you put into price comparison shopping, the more probable it is that you will find name-brand finishes and appliances at deeply discounted costs. Purchasing inexpensive floor models or scratch-and-dent appliances, buying discounted floor models or scratch-and-dent appliances, and keeping a watch on online as well as offline markets for used or reused things are some top money-saving tips. Additionally, you might be able to haggle over rates. Also, keep in mind to benefit from this, you don't need to be a skilled builder. When you research on your own you might be more inventive in the resources you locate. A little creativity, hard work, and being a shrewd online and offline materials scavenger may all help you build the house of your dreams.  6. Do not make changes after construction starts Sometimes after approving a plan before building begins, individuals decide to revise it at the last minute. This is a significant factor in the rising cost of building. Avoid doing this unless required. 7. Make use of the latest technology The advent of technology has altered the realm of real estate development in several ways. Don't be afraid to embrace contemporary technology while planning your own home or place of business because it may help you save time and money while lowering the possibility of human mistakes. Additional read: How to save money to buy a house? How to afford your dream house?  You can invest in mutual funds for the long term using SIP. You can open a SIP just to pay the down payment on your mortgage. Depending on the type of fund you choose and the length of the investment, you may easily earn a return of 10% to 18%. Get in touch with our experts at EduFund, and they will help you decide on the best course of action for investing. To get started investing, download the EduFund app and set up an account from the comfort of your home with no fees or difficulty.  If you're thinking of building a house, a little forethought, some extra work, and the use of clever alternatives might significantly reduce the cost of the home's construction. However, it must be made clear that to save some extra money, the strength and caliber of the input materials cannot be sacrificed. Consult an expert advisor to get the right plan TALK TO AN EXPERT

It's vital to save money if you want to fulfill your or your child’s ambitions. While some may be fortunate enough to receive a monthly paycheck that is sufficient to fulfill their needs and aspirations, many are forced to scale back their goals after barely managing to pay their bills. How can you save money from your salary every month 1. Make a monthly budget plan The key to saving money is to keep track of your spending and limit your costs. By separating your costs into important areas, create a monthly budget plan and follow it. Since the budget will help you avoid going over your spending limit, you will have extra money to save down each month from your income. 2. Avoid credit cards or personal loans Avoid utilizing credit cards and personal loans, even when they are freely accessible. These two approaches both lead to steadily increasing debt that finally prevents you from having any control over your monthly spending. Use UPI as often as you can to make payments because there are no transaction fees involved. 3. Avoid making fancy purchases Young people typically want to dine outside, watch a movie, shop online, and go to the mall. But are these costs actually necessary? It is quite possible to live without overindulging in these as they are luxury. Depending on your budget, place a limit on these pleasures. 15% of your salary is the generally advised maximum for fun and pleasure expenditure. Make careful to adhere to this cap at all costs. 4. Low-cost entertainment ideas Another area where you might be able to save money is entertainment costs. You might be able to reduce your movie expenses with the abundance of subscription options accessible, such as Amazon Prime, Cable, and Netflix. Consider indulging in outdoor activities like hiking or camping as an alternative to spending money. Additionally, having fun shouldn't be expensive. As an alternative to going out to eat, think about hosting a house party or potluck dinner. 5. Track your spending We don't stick to our budget, which is one reason why we spend too much money. You must accept responsibility for your actions if you wind up spending twice as much on everyday meals as you expected. You'll be able to see how your pay is being spent if you keep track of your expenditures. Study your expenditures over the last several months before setting aside money from your salary. We frequently observe that there are districts that we might eliminate to concentrate on conserving. 6. Take care of debts As soon as you start working, you are most likely to be subject to debt bondage. When you have fewer commitments and more access to credit card purchases, it might be difficult to resist the temptations toward uncontrolled consumption. Knowing the difference between needs wants, and greed will be helpful. There are other ways to accumulate debt besides using a credit line. Start investing with SIP and debt mutual funds This is well-liked since the returns are steady. This alternative is available to those who are hesitant to invest because of the hazards. These funds make investments in treasury bills, government securities, markets, commercial paper, and other financial instruments. Debt mutual funds do, however, carry credit and interest rate concerns. Even though there is a tonne of online advice on where to start, investing may seem scary to beginners. A crucial step would be to do research. Use a systematic investment plan (SIP), which is very simple and sensible, to start small while you decide how much work you want to put into investing and what kinds of investments you want to make. If you're not sure what you want, it's a good idea to ask a professional expert for guidance. They can walk you through your options and help you choose something that will make you happier and more involved. You may contact our professionals at EduFund, and they will assist you with the proper course of action for investing. Download the EduFund app and create an account to start investing. With zero charges and no hassle account opening process is from the comfort of your home. How much salary to invest in mutual funds? There are a lot of investing guidelines that can be used as a guide, and the 50:30:20 rule is a wonderful illustration of how someone should normally invest 20% of their monthly wage. Depending on your level of risk tolerance, there are many types of mutual funds. Index funds, debt funds, multi-cap funds, hybrid funds, and equity funds are a few of them. Building a financial safety net for you and your family when you aren't working is dependent on saving money as you go along. It might be a wise use of funds to put some of your profits into the best investment programs. Not only will it secure your future, but it will also develop your financial discipline and assist you in achieving your own objectives. TALK TO AN EXPERT

Financing an MBA is a significant worry for any MBA candidate during the GMAT prep and planning phase. For instance, MBA admission in India might cost anything from Rs 5 to 20 Lakhs - a sum large enough to make students think about and arrange their money. But money should not be a barrier to anyone getting into their ideal B-school. So, it's time to make that goal a reality through various investment choices to assist in savings for education. https://www.youtube.com/watch?v=peDFdmed0Nw Options to finance your MBA in India PPFs - The PPF is a long-term investment savings plan with a lock-in duration of 15 years, known as the maturity period. PPF accounts are a safer way to invest and receive a greater interest rate which can help to manage MBA education costs. Mutual Funds - The benefits of investing in mutual funds include that the underlying stocks/securities are adequately diversified and managed by experienced fund managers who have skills in picking them. Life Insurance Products - A term life insurance policy is the most cost-effective approach to safeguard everything and everyone in your life, even the funds you're putting down for your child's school. A life insurance policy is an unutilized tool to pay for MBA education costs. Early Start of Savings - The earlier you begin saving money, the more time earnings have to accumulate, and the more money you will have 18 years later to manage MBA academic costs. Education Loans - An MBA education loan in India is also the simplest way to cover the high cost of your MBA program. You can choose from a range of MBA education loan options. Create Goal for Child Education Why is MBA funding an important factor to consider? It is impossible to complete your MBA degree without determining how to pay your tuition and other fees that you will incur over two years of study. Even FMS's cheapest MBA program now costs about 2 lakhs. IIMs already have exorbitant fees ranging from Rs.13 lakhs to Rs.24 lakhs.  On top of that, practically all major MBA institutions have raised their MBA tuition.  If you follow a well-planned and well-thought-out process, you will not only be able to fund your MBA education at prominent colleges but also save a lot of money during your studies. Almost 80% of MBA students in India take out MBA education loans to achieve their aspiration of earning an MBA. As a result, arranging and acquiring your Education Loan for MBA/PGDM in India is just as vital as getting accepted. Before we can look at funding choices for your MBA, we need to know the fees for top MBA institutions like IIMs and other top B-schools, and then we can determine whether you need an IIM Education loan for an MBA or another B-school. Fee structure of IIMS and top MBA colleges Let's have a look at the MBA college prices. Given their exorbitant tuition, it is evident that pursuing an MBA program at IIMS or other top B-schools in India without an MBA education loan is tough. Mba college fees vary greatly depending on the type of b-school and often rise by 5-7% yearly. There are MBA institutions with high and moderate fees; however, there are also many top MBA colleges in India with inexpensive fees and good placements, such as FMS Delhi, Pumba Pune, UBS Chandigarh, and Simsree Mumbai. The current MBA fee for IIMS is between Rs 12 lakhs and Rs 23 lakhs, while the MBA fee for top PGDM b-schools such as XLRI, MDI, and SPJIMR goes between Rs 15 lakhs and Rs 23 lakhs. An MBA from most of India's top 10-20 b-schools would cost between Rs 12 lakhs and Rs 23 lakhs. Worry not if you have a limited budget for your MBA fees. MBA tuition for top colleges  The best MBA institutions in India and their cost structure are listed below: MBA colleges with fee structure Conclusion Financing an MBA is a major worry for any MBA candidate. To guarantee that the available funds do not fall short of the needed funds to manage education costs, parents should prepare ahead of time and begin saving and investing as soon as feasible. There are also several governments and commercial lenders that provide MBA education loans. TALK TO AN EXPERT

There are hundreds of scholarships for Ireland that international students can avail themselves to fund their dreams. These awards either provide full or partial funding depending on the requirements, program, and institution and the student’s merits and application. Before applying for a scholarship, it is crucial to carefully review the selection criteria because Irish scholarships can be extremely competitive. Good academic standing is crucial if you want to receive a scholarship in Ireland. Both written proposals and volunteer experience are requirements for students. It's essential to have results of English proficiency tests like the IELTS, TOEFL, PTE, etc., as well as relevant letters of recommendation. Let’s look at some scholarships for Ireland to fund your child’s college degree in detail: Ireland government scholarships International students who can excel in their chosen fields of study and advance to positions of leadership in their fields are the target audience for the government of Ireland's scholarships. The Higher Education Authority is responsible for managing government of Ireland scholarships. Ireland offers a large number of fully paid scholarships. The organization awards 60 scholarships to students in any field of study from the European Union and all other nations. The scholarships are meant for Bachelor's, Master's, and doctorate. Financial support of ₹7 - 8 lakhs for one academic year. Applications may be submitted online using the website. Additional read: Scholarships in Germany Ireland government postgraduate scholarship program The Ireland government offers some postgraduate scholarships, especially for international students. Financial Coverage Annual stipend of ₹10 - 15 lakhs. Contribution to fees, which includes non-EU fees, is limited to a maximum of ₹4.5 lakhs per year. Annual eligible direct research expenses are ₹1.5 - 2 lakhs. Eligibility Criteria Both EU and non-EU students may apply. Students who want results can also apply. Bachelor's degree in first or upper second class with honors, or an equivalent degree (equivalent to or exceeding 60% on the percentage scale or B on the international scale), There is no age limit. Additional read: Scholarships in Australia Ireland university and college scholarships for international students 1. Nui Galway international student scholarships International Student Scholarships at NUI Galway is available to non-EU students. The fellowship is open to students enrolling in undergraduate, graduate, or doctorate programs. Benefits: Each year, students receive between ₹1.6 and 3.2 lakhs. Some programs waive tuition costs while giving research candidates a yearly grant of ₹10 - 13 lakhs. 2. Maynooth University Scholarships One of the best universities in Ireland is Maynooth University. It gives several kinds of scholarships including sports scholarships, music scholarships, admission scholarships, intel women in technology scholarships, etc. Benefits: Awards range from ₹80,000 to 3,20,000 annually. Depending on the sort of scholarship, students may also receive some extra advantages. For instance, the athletic scholarship might assist students with both sports-related and other fees. 3. Trinity College Dublin Scholarships Another well-known college in Ireland that awards scholarships to several international students enrolling in undergraduate or graduate programs are Trinity College. Benefits: Waivers of fees, living expenses coverage, health insurance, etc. Depending on the type of grant, students can expect to receive between ₹4 and ₹8 lakhs. 4. University College Cork Scholarship Excellence scholarships are available from University College Cork to students participating in various undergraduate, graduate, and Ph.D. programs. Benefits: The funding exclusively covers EU fees. The outstanding fees must be paid by non-EU students. The living cost is covered for students outside of the EU. Additional read: Scholarship in Singapore Other Ireland programs for scholarship Other organizations offering scholarships to international students: 1. The Walsh Fellowship Only EU fees are covered by funding. The remaining tuition is due for non-EU students. The living cost is funded for international students. The scholarships are for 4 years for Ph.D. programs and in exceptional cases, 2 years for M.Sc students. Funding worth ₹30 crores per year is committed to the program. Ph.D. programs in agriculture, food, horticulture, rural development, etc are given priority for these awards. 2. Central Bank of Ireland Undergraduate Scholarships For International Students A fully financed part-time honors degree scholarship program in Griffith College has been made available by the Central Bank of Ireland for international students. A contract for full-time employment of 4 years at the Central Bank of Ireland will be signed, alongside a seat in a 3-year part-time graduate degree - BA (Hons) in Business Studies or Accountancy & Finance. Benefits ₹20 - 23 lakhs annual salary. 24 days of leave per year. Educational assistance, as well as paid study, leave. Hybrid working (balance of working from home and office) Pension schemes, and more. For all the great brains out there, scholarships in Ireland are undoubtedly a profitable alternative. You must keep in mind, though, that scholarships are competitive, therefore it is advised that you apply to several to have backup choices. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Education loans are a tremendous option if you don’t have enough funds to fuel your child’s dream. If you have the ability to pay your tuition and other expenses in installments, education loans may be a good fit for you. Let’s look at the list of expenses covered under education loans. Does an education loan cover living expenses? The simple answer is Yes! The amount of living expenditure coverage provided by banks varies from one bank to the next. Food, rent, everyday expenses, and other living costs are all included in the extremely broad area of living expenses. The manner expenditures are paid for by the loans is not consistent. While some banks may have a different system for determining the cost of living assessment, others may impose a cap on the monthly costs subject to a particular percentage of the entire loan amount. The reason it's crucial to focus on the specifics of the degree of loan coverage being provided on a certain loan. List of expenses covered under education loan Get in touch with our specialists at EduFund if you want to get an education loan so you can quickly get loans up to INR 1 Cr to study in India or abroad. Simply compare and use. It's that easy! 1. Tuition fees The majority of your expenditures, which include tuition fees, are covered by all forms of student loans. All lenders will pay for the tuition, which is the foundation of your international education. Even the smallest student loans mostly pay for school 2. Cost of living  Your living costs while you reside in the UK, the USA, Australia, Canada, etc., are occasionally greater than those of your complete family in India. The local and foreign currency exchange rates are to blame for this. Rent, food, local transportation, and other costs are all paid for by the education loan. The bank or lenders will determine how much they are covered. 3. Exam and studies-related costs  Education Loan expenses include those for books, computers, exams, extracurricular activities, and other things needed for studying. Some banks are only permitted to pay for these costs if they don't equal more than 20% of the overall loan amount. 4. Air travel tickets For students from low-income and middle-class families, traveling to a distant country requires a major financial commitment. Flights from India to London or Toronto one day may be expensive. An aircraft ticket may cost between 50,000 and 1 lakh Indian Rupees. Many lenders may let the provision include the cost of the aircraft ticket in the total loan debt even though it is not a sizable sum. It must be taken into account that travel expenditures are not often counted as a loan failure by banks. The borrower may choose to include this. It is advised to include the cost of transportation in the loan for those who cannot pay it. 5. Health insurance Student loans frequently do not include health insurance. Most lending organizations don't pay for the cost of health insurance. However, depending on the borrower's request, certain banks may agree to pay the cost of health insurance. Because of this, very few banks would count health insurance as part of the loan. What costs are not covered by a student loan? Tickets to movies, individual travel, and other such entertainment costs are not covered by student loans. Only tuition fees are in default across all college loans from different banks, even for costs reimbursed by education loans. Other costs, such as rent or other living expenses and airline tickets, are either not covered at all or only partially reimbursed (30–40%). How to calculate expenses covered in education loans? Make sure you have a good idea of the costs you anticipate incurring while studying abroad before you approach banks or other lenders for school loans. Here are some things to take into account when estimating school loan repayment costs: The cost of lodging close to the university where you have been accepted. Depending on whether you can cook, the cost of food. the price of gasoline and other forms of public transportation. Therefore if you're interested in studying abroad, don't delay any longer because there are accessible education loans available to help you reach your dream university! Finally, before making any decisions, always be sure to carefully study all documentation relating to the scheme. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Living expenses in France for Indian students depend on the location of their residence and individual lifestyle. The cost of living in Paris is no doubt more than in Lyon or Grenoble. Similarly, if a student loves to eat in restaurants and not on campus, then their cost of living will automatically rise. The average monthly living expenses in France vary between EUR 1000 - EUR 1350 per month (nearly INR 79,960– INR 1,07,946). It is quite reasonable if you consider other countries like the USA and UK.  International students should be aware of the cost of living in the city they will be studying in. Take the help of the college cost calculator on the Edufund App to factor in the necessary costs like food, rent, traveling, health insurance, etc. to calculate the living expenses. Living expenses in France for Indian students 1. Food (average monthly cost) The cost of food depends upon an individual and whether they want to cook at home, eat on campus or at restaurants.  An overview of the food expenses based on cities is- City Cost Grenoble EUR  200 – EUR 300 (nearly INR 15,992- INR 23,988) per month.BordeauxOutside meals are EUR 0.90 – EUR 6 (nearly INR 72 - INR 479) per meal.Nantes EUR 200 (nearly INR 15,992) per month.LyonEUR  300 (nearly INR 23,988) per month.Paris Meals outside per meal EUR 9 – EUR 15 (nearly INR 719 - INR 1,199). 2. Cost of basic grocery items Food and BeveragesCostBread EUR 1.20 (nearly INR 95.9).Potatoes 1 kgEUR 1.89 (nearly INR 151.1).Apples 1 kgEUR 2.98 (nearly INR 238.2).Local cheeseEUR 7 (nearly INR 559.7).MilkEUR 1.10 (nearly INR 87.9).Eggs (12)EUR 4.29 (nearly INR 343).Boneless chicken breast 500 gmsEUR 5.29 (nearly INR 422.9).Tomatoes 1 kgEUR 2.94 (nearly INR 235). 3. Accommodation The average monthly cost of accommodation in France is based on whether the student is living in a student's hostel or private housing and in which city they are residing. The student hostel is no doubt cheaper than private housing.  An overview of the rent based on the area of stay follows- City Cost per month Grenoble EUR  200 – EUR 500 (nearly INR 15,992- INR 39,980).MontpellierEUR  335 – EUR  522 (nearly INR 26,786 - INR 41,739).Nantes EUR 250 – EUR 550 (nearly INR 19,990- INR 43,978).LyonEUR  400 – EUR  550 (nearly INR 31,984- INR 43,978).Paris EUR  300 – EUR  500 (nearly INR 23,988 - INR 39,980). 4. Transportation costs Public transport in France is well-connected and extensive. The city’s metro is easy to navigate, and the weekly tickets cost EUR 0.85 (nearly INR 67.96) plus EUR 1 (nearly INR 79.96) refundable deposit fee per trip at EUR 21 (nearly INR 1,679) per month. The public transport is pretty reliable and cheap with the bus fare being EUR 2-3 (nearly INR 159 – INR 239) return, train fare at EUR 6 (nearly INR 479) per person one-way and taxis at EUR 10 – EUR 15 (nearly INR 799 – INR 1,199) one way.  The cost per month, depending upon the area of study is CityCost Per MonthGrenobleRental Bike EUR 10 – EUR 25 (nearly INR 799 - INR 1,999).TAG transportation service EUR 10 - EUR 60 (nearly INR 799 - INR 4,797).Nantes EUR 50 (nearly INR 3,998)Lyon Public transport (bus, metro) is EUR 13.20 monthly for a 10-ticket book. (nearly INR 1,055)Travel card - EUR 32.50 (nearly INR 2,598).ParisYearly pass EUR 333.50 (nearly INR 26,666)Taxi (1 hour) – EUR 40 (nearly INR 3,198). 5. Personal Expenses Mobile phone – EUR 50 (nearly INR 1,599) per month. Entertainment – EUR 240 (nearly INR 19,190). Internet – EUR 30 (nearly INR 2,398). Magazines, stationary – EUR 80 (nearly INR 6,396). Hobbies EUR 100 (nearly INR 7,996). 6. Health Insurance Health insurance is mandatory and an integral part of the living expenses in France for international students. Although a part of it is covered by the government, students have to pay one-time or annual fees as required.  City CostsGrenobleHome insurance - EUR 40 – EUR 100 per annum (nearly INR 3,198 – INR 7,996).Healthcare visit – EUR 25 (nearly INR 1,999).NantesEUR 350 per annum (nearly INR 27,986).LyonEUR 50 one-time cost (nearly INR 3,998).ParisSocial security EUR 92 (nearly INR 7,356).Civil liability insurance – EUR 30 (nearly INR 2,398). Conclusion Quality education at top universities and affordable living expenses in France for international students makes it a desired hub to study abroad. Students should try to stick to their budget to make their stay comfortable.  The college cost calculator on EduFund is a guiding tool that gives an estimate of future expenses so that students can be mindful of the money they will need as living expenses in France.  TALK TO AN EXPERT

Due to a lack of funding, many students are unable to pursue quality education. As a result, students who desire to continue higher education, especially at universities abroad, choose to take out an education loan. In this blog we have discussed how can you save money and study by choosing the best education loans in India. Top banks for education loans in India Mentioned below is the list of top banks in India with interest rates for education loans: Best education loans in India Following are the best education loan in India you can opt for your children's further studies: 1. SBI education loan Additional read: Does education inflation impact student loan interest rates? 2. HDFC bank education loan 3. Punjab national bank education loan 4. Axis bank education loan What are the eligibility criteria and documentation requirements for an education loan? One must be an Indian citizen who has been admitted into an institution or university that is recognized by a competent body in India or overseas.  The candidate must have successfully finished senior high school.  Even before a student has been admitted to a university, certain banks may provide a loan. Although certain banks may do so, the Reserve Bank of India (RBI) guidelines specify that there are no higher age restrictions.  The banks want additional paperwork including the institution's acceptance letter, fee schedule, and Class X, XII, and graduation (if applicable) mark sheets.  It's also necessary to have the co-applicants income documentation, such as pay stubs or income-tax returns (ITR). Is collateral required for financing the loan? Banks will contribute up to 100% of the loan, depending on the amount. For loans up to Rs. 4 lakh, no margin money is now necessary. The candidate is required to provide 5% of the required funding in order to study in India.  On the other hand, the required margin money for abroad studies increases to 15%. Loans beyond Rs 7.5 lakh may also require collateral from the banks. Financial institutions do not require any collateral or third-party guarantees for loans up to Rs 4 lakh.  For loans between Rs. 4 lakh and Rs. 7.5 lakh, a third-party guarantee is necessary. A security deposit is needed for loans that are more than Rs 7.5 lakh. When a loan application is granted, the banks transmit the money straight to the institution or university in accordance with the fee structure. What is the process of repayment? The person who takes out the loan for their schooling is in charge of paying it back. Repayment usually starts once the course is over. Additionally, some banks allow you a grace period of six months or a year after you graduate from school before you are required to repay your loan.  Normal repayment terms range from 5 to 7 years, however, they can potentially be extended. Over the course of the loan's payback tenure, the bank assesses a standard interest rate. By paying basic interest during the course, the student's equivalent monthly installment (EMI) burden for future repayments is decreased. How to apply for an education loan? You can visit the Education Loans page on the EduFund website and fill up a simple form. You will get all the details, along with guidance from experts in the field. Taking out a loan may seem terrifying, but if the student is dedicated and makes the most of the opportunity, it will undoubtedly pay off in the long term. Consult an expert advisor to get the right plan TALK TO AN EXPERT

Having children involved in extracurricular activities has increasingly become the norm. Most parents want their children to be educated, engaged, and well-rounded individuals. However, some of these practices might be too expensive without proper planning and budgeting. Different forms of extracurricular activities are priced differently. And they might vary greatly depending on the activity and the region of the nation in which you live. Some popular extracurricular sports include basketball, cricket, aerobics, dancing, athletics, skating, combat sports, hockey, tennis, swimming, golf, track/running, and volleyball. Acting/drama, art (painting, sketching, and sculpture), and even gaming fall under extracurricular activities. While some of these activities are completely free, others might be costly. As a result, diversifying the expenditures will benefit your entire budget if you involve your children in various activities. Average expenses for extracurricular activities One factor to consider when deciding which activities to involve your children in is the expense. While this is not always the most significant issue, it is crucial to consider the activity from various perspectives to determine how it will affect you financially. Another aspect to consider is the amount of time it will take away from the family's lifestyle and whether it can be managed properly. Include the cost of time as well. Travel time, preparation duration, practice sessions, and outcome of the activities are all factors. Some sports competitions might last all day or even longer. The typical cost of a dance class varies based on the institution and the frequency of the courses. Dance academies often provide various packages to meet their pupils' learning needs. The average monthly cost of dancing instruction in India is Rs. 1,105.  The finest cricket academy in Chennai offers 6-month training for Rs.50,000. Other academies charge between Rs.3000-5000 per month for teaching. The pricing range might alter in different states, such as Mumbai, Bangalore, and Kolkata. However, for an average coaching academy in India, you need to budget at least 3000-4000 per month as a price. Recurring cost of extracurricular activities The charges for extracurricular activities are recurrent. It is the expenditure that occurs regularly and is expected monthly and annually. The pace at which it rises or falls, as well as the period for which the cost applies, are all connected. Such expenditure might be tough to budget for because it can change frequently based on the interests of your child. Creating a section for entertainment and extracurricular expenses in your budget and adhering to it might help you better account for all other expenditures connected with such expenses. Additional read: Budgeting tips for parents Short-term savings & yearly returns Short-term investments are brief or equity instruments that can be readily turned into cash. Short-term investments are liquid assets that offer a safe and temporary destination for cash reserves. In the event of short-term investments, the funds can be converted to cash after 3 to 12 months. High-yield investment funds, investment securities, treasury securities, and government bonds are attractive short-term investment vehicles. Let's look at the best short-term investment opportunities for 2022. Bank Fixed Deposits - Fixed deposit accounts provide a guaranteed interest rate on investment and returns after the fund's tenure. Fixed deposits currently provide 5-8% interest rates for investments of more than a year. Debt Instrument - Debt funds are regarded as one of the greatest short-term investments since they provide investors with minimal risk and consistent returns. Currently, debt funds provide an investment return of 7-9%. Large-Cap Mutual Funds – The large-cap mutual fund plan provides investors with high liquidity and significant investment returns. Large-cap investments in mutual funds are a secure short-term investment choice with minimal risk and a good return of 8%-13%. Money Market Account - Money market fund returns are not definite or set. MMF currently provides an annual interest rate of 7%. Post-office Time Deposits - The deposited money's interest rate is calculated annually. The post office program does not permit early withdrawal before the end of the six months. Recurring Deposits - As one of the top short-term investment plans, the interest rate on Recurring Deposit accounts is the same as that on Bank FDs. The appropriate interest rate for 12 months or more is 6.5% yearly. TALK TO AN EXPERT