BD Wealth Management - Children
 
Most parents seek the best for their children. Providing a safe, secure, comfortable, loving, environment is always the goal.  But we have astonishingly little teaching and instruction on how to do this.  Mostly, we try to improve on what we grew up with but this is not always possible as things change at such a rapid rate. 
BD Wealth Management specialises in the area of managing money - and this page is about giving you some ideas to consider in this regard as it relates to your children or even grandchildren. In this area we can help!
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Introduction...
Bringing up a child involves so much more than money, but if the finances are wrong then the possibility of your child not being able to maximise their potential is forever with you. 

The job of a BD Wealth Management advisor is to help you provide for your child in a world that is constantly changing. Depending where you live and your hopes and expectations, will determine the cost of having a child.  In the United Kingdom a child brought up in a middle class family can expect to cost in the region of GBP £227,000*
*Figures from LV
A BD Wealth Management advisor can help you make sure that your children are well taken care of by making sure there is sufficient insurance and reviewing your Will.
Stage 1...
The very first financial requirement of responsible parents, after making sure there is sufficient for the child's needs, is to make provision for anything that could happen to the breadwinner(s). If  there are sufficient resources to ensure the well being of the child should there accidents or death of the breadwinner provides great peace of mind. 

Stage 2a ... Education
Good education is expensive and the trend looks to be that fees will continue to grow. This makes planning vital, so that adequate funds to meet these costs, especially if you have more than one child.
Planning in advance can mean financial freedom for yourself as well as, at the same time, providing an excellent start in life for your child.

When you take into consideration the whole time your child will be at school, total fees could be tens of thousands of pounds / dollars - or hundreds of thousands at the most expensive schools. Even at free, state-maintained schools, the costs can add up.
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Stage 2b ... Extras
Extras can add considerably to the bill, one estimate is 10% of total school fees. The amount of extras you'll pay varies depending largely on activities your child chooses to take part. Extras can include:
•Instrumental tuition
•School trips •School lunches •Books •Public examinations
•Stationery •Uniforms
BD Wealth Management advisor can help you construct an affordable flexible plan so that providing for your family is a pleasure  - not a nightmare
Stage 3 ... University

Probably the biggest expense of all!  - but worth it! One study suggests the university graduates on average earn 25% more than those without a degree. But costs are huge especially if you have to fund it all.
A BD Wealth Management advisor will help you plan this and keep it flexible - you never know the child may get grants and bursaries.
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