What should i do now to live to see my children graduate from university?

By Eric DOMIE

Living long enough to see your children graduate from university is one of the greatest dreams any parent can have. Yet many families fail to achieve this dream—not because they lack commitment or resources, but because they fail to plan early and intentionally.

Every parent wants to witness their child walking across the stage in a graduation gown: the proud smile, the sense of achievement, and the promise of a better future. However, rising living costs, inflation, and economic uncertainty can quietly erode that dream if planning is delayed.

If a decision must be made, it must be made now. Waiting only reduces your options and increases the cost of giving your children the future they deserve. The truth is simple: the sooner you start planning, the better your chances. Money saved today has more purchasing power than money saved tomorrow, and investing early significantly improves your ability to support your children’s education—without compromising your own financial well-being.

While academic performance is critical to a child’s success, financial preparation plays an equally important role. Quality education, reliable learning tools, safe environments, and good schools all require consistent financial commitment. Without proper planning, these necessities can become stressful—or even unattainable.

Parent-Friendly Financial Planning Strategies

Below are practical steps you can begin today to safeguard your children’s educational future.

1. Assess Your Financial Reality

Avoid burdening yourself with schools that exceed your financial capacity. Choose quality education that fits your budget.

• List all income sources (salary, business income, side hustles, allowances).
• Track monthly expenses—housing, food, transport, debt repayments, utilities, and savings.
• Identify a realistic surplus you can commit monthly or annually to a child education fund.

2. Set Clear & Measurable Goals

• Ask yourself: Which school or university do I envision for my child? What course?
• Estimate the expected duration (e.g. 4–5 years) and total cost—tuition, accommodation, books, transport, and living expenses.
• Set a target amount in today’s value and work backward to structure a savings or investment plan.

3. Use Diversified, Low-Risk Savings & Investment Options

• Consider fixed deposits, collective investment schemes, or long-term bonds suitable for education planning.
• Build an emergency fund of 3–6 months of living expenses before committing heavily to long-term investments.
• Avoid over-stretching your budget—education planning should be sustainable and stress-free.

4. Protect against Inflation & Price Shocks

• Education costs tend to rise faster than wages.
• Gradually increase savings contributions as income improves.
• Stay informed about inflation trends, scholarships, and any government education support programs.

Education Costs in Ghana — What to Expect

• Public universities in Ghana are generally more affordable than private institutions.
• However, even public university education—when tuition, accommodation, meals, books, transport, and fees are combined—can be substantial.
• Many households need a minimum of GHS 8,000 or more per year per student to cover basic tertiary education costs.
• Private universities and specialized programs can cost significantly more, reinforcing the importance of early planning.

Relying on last-minute savings or emergency borrowing is risky. A structured plan offers peace of mind and better outcomes.

How to Invest Monthly in a Child’s University Fund

Consistent, modest investments can grow meaningfully over time. Below is a simplified illustration:

Monthly Contribution	GHS 200	GHS 500	GHS 1,000
Investment Period	10 yrs	10 yrs	10 yrs
Avg. Annual Return	18%	18%	18%
Total Contribution	24,000	60,000	120,000
Estimated Interest	33,015	82,538	165,077
Estimated Value	57,015	142,538	285,077

Figures are illustrative only; actual returns depend on market conditions, timing, and inflation.

If you truly want to live to see your children graduate—and give them the best opportunity to succeed—the time to act is now. Do not wait for “more money” or the “perfect moment.”

Your children’s education, career prospects, and long-term stability depend on the steps you take today.

Thank you for reading. I would be glad to hear from you.

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