One of the greatest gifts a parent can bestow upon their children is financial help.

We go through life caring for our children, protecting, and helping them in any way we can. As we get older, they become our primary focus. We want to share our success with them, help them in any way we can, and give them the very best chance in life.

Whether your children are young, teenagers, or parents themselves, being able to help them financially, having the funds to say “yes” to that school trip or “yes” to the best college will give them the leg-up needed for a more prosperous life.

By taking steps to help your children financially, you can give them a head start in life. You can help them pay for their education, buy a home, and start their own business. You can also help them avoid debt and build a solid financial foundation.

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Ways to Financially Help Your Children

Parents can help their children financially in several ways, from setting up a college savings plan to teaching them about budgeting.

To support your children financially, you first have to be confident in your own financial future. Simplifying your financial position while your children are young will go a long way towards your children’s private education and university fund. This means having a solid financial plan and meeting your financial obligations.

If you’re unsure where to start, consider booking a no-obligation, Meeting with one of our financial advisors.

Small saving tips like skipping a morning coffee or putting gold coins in a jar rather than your wallet can quickly add up to significant savings. Simplifying your financial position while your children are young will also go a long way towards your children’s private education and college fund.

One of the best ways to help your child financially is by setting up an investment bond.

Investment bonds are a cross between an investment portfolio and a life insurance policy. They let you invest on behalf of your child (or grandchild), with the ownership being transferred automatically to your child on a future set date of your choosing. It may be when they graduate college or turn 18 etc.

Investment bonds are accessible, flexible, and considered to be the most tax-effective structure besides superannuation. However, unlike superannuation, there’s no limit to how much you can put into them, and you don’t need to meet a condition of release.

Due to their tax-effectiveness structure, investment bonds are an excellent way for parents to help pay for significant expenses like their education, a car, or a house deposit.

If you’d like help securing your financial future, simplifying your financial position or setting up an investment body on behalf of your child, turn to the award-winning financial advisors at Centre Financial Services. We can review your financial position and provide tailored advice to help you best help your children financially.

Start Helping Your Loved Ones Today

As a parent, you want to do everything possible to help your children succeed. One of the most important things you can do is to help them financially.

If you’d like help securing your financial future, simplifying your financial position or setting up an investment body on behalf of your child, turn to the award-winning financial advisors at Centre Financial Services. We can review your financial position and provide tailored advice to help you best help your children financially.

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