The Future Is Now...Well, It Might As Well Be

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When you become a parent, you have a lot to worry about. Not only do you have to think about the here and now, but you also have to think about your little one’s future. Despite popular belief, parenthood doesn’t end when your child reaches eighteen. And let’s be honest, none of us want it to. The future may seem a long way off, but time never flies faster than when you’re watching your baby grow. If you thought the years were flying before, you wouldn't believe how quick they'll go now. That’s why it’s important you take action, or at least make plans, for your child's future!

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EDUCATION

The first hurdle you’ll cross is which school to send your child to. No pressure, but your choice here could have a huge impact on who they grow up to be. During the younger years, the school you choose isn’t as important. For the most part, primary schools offer the same prospectus. Look for friendly teachers and a nice atmosphere over top grades. Many primary schools have long waiting lists, so sign up as soon as possible. Then, focus your attention on secondary education. Your child will have the ultimate say in where they go, but it doesn’t hurt to know your options. If you have your sights set on a school outside your catchment, it might be worth moving closer now to save disruptions down the line!

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HOUSING

Housing is one of the major issues of the modern age. Mortgage rates are high, and deposits are increasingly difficult to achieve. When the time comes for your little one to get a house, they may well need you to guarantor for them. That means you sign on the dotted line and say you can pay if they don’t. Not having a guarantor will make life a lot harder, and could make even renting a challenge. Take steps to ensure you would qualify by keeping your credit rating squeaky clean. You won’t be accepted otherwise! If you’re unsure where your credit rating stands at the moment, companies like MyCreditMonitor offer advice and free credit checks. If you have a good rating, make sure to keep it that way. If not, there’s still time to make changes! Research ways to bring your rating back up, and make sure to take action.

FINANCES

As it stands, young people face increasing financial strain. Wages are disproportionate to costs, and many young adults struggle to find their footing. You have no way of knowing what the financial world will look like when your little one comes of age. If recent years are anything to go by, though, it could be even more challenging. That’s why it’s worth considering their future finances now. Set up a savings account and start paying a monthly amount. Just £10 a month into the account will ensure you have a decent sized chunk to hand over when the time comes! Choose a high-interest account to get the most from your money.