Supporting Your Child’s Education as an Expat Family

 

Image: Freepik

Relocating abroad as a family can open a world of opportunities, including business and financial benefits and the once-in-a-lifetime experience of experiencing another culture. However, this lifestyle choice also comes with a few challenges that should not be overlooked–including finding the best option for your kids’ education. 

Of course, before relocating, you have taken the time to research your new home, city, and neighbourhood, learning about local crime rates, the presence of great schools, and healthcare standards. However, when it comes to guiding your kids along their academic journey, there are a few extra considerations worth making. Let’s get started in the guide below. 

Understand How The School Systems Differs

The first step to take is a thorough review of the local school system. Different countries have different education systems and standards, and understanding how they work is essential to navigate the journey ahead with confidence.

Additionally, you’ll have to choose between local and international schools. Each option has its own set of benefits. Local schools can help with integration and language learning. International options, such as KIS International School, guarantee high education standards that will support your kids wherever they decide to continue their education. 

Help Them with Language Learning

Next up, let’s talk about the importance of learning the local language. Raising multilingual children has an unparalleled set of advantages, especially as kids are naturally prone to learning languages.  

So, whether you have decided to live in your current area temporarily or permanently, be sure to encourage your little ones to learn the local language. To get started, consider local language schools, community activities, and socialization with the locals!

Find Community Support

It can be challenging to navigate the local school system and associated paperwork as an expat. The chances are that you’ll need to deal with plenty of bureaucracy and language barriers. That’s where finding a community that can provide guidance and support can be a game changer. This is especially true if you are thinking about homeschooling your children! 

To find a community to rely on, consider local boards and associations, and look for groups on Facebook or through other social media platforms. 

Mixing Culture and School Life

Of course, your choice of school is important. However, don’t forget that keeping your children happy and healthy also means mixing in with the culture and social life! Be sure your little ones have a circle of friends and acquaintances, so they can feel integrated and accepted. Of course, it is important to lead by example! Consider signing up for local classes, projects, and workshops to start building a network of contacts! 

Using Tech Tools for Learning

Last but not least, it is crucial not to overlook the power of technology! Everyday tools like iphones and tablets are more than just entertainment! They allow your children to access a library of educational resources, including YouTube videos, documentaries, tutorials, and even virtual reality tours of museums and zoos! Be sure to fine-tune parental settings and make the most  of these technologies to support your kids’ educational journey! 

0

Maximizing Your Child's Education Savings: Tips and Tricks

 Saving for your child's education is one of the most important investments that you can make in their future. Post-secondary education can cost quite a lot of money, and it's continuing to rise, making it important to maximize savings effectively. A registered education savings plan is a powerful tool that can help you grow funds while also utilizing government grants and tax benefits. 

Photo by Коледа Дмитрий: https://www.pexels.com/photo/a-toddler-playing-with-a-wooden-toy-in-a-living-room-16145654/

Let’s have a look at some tips and tricks that will help you make the most of your child's education savings.

 

Start Early

 

One of the best things you can do is start saving as soon as possible. The more time your money has to grow, the better. An RESP allows your contributions to compound tax-free, meaning that your investment grows faster than it would if it were in a taxable account. Early savings also mean that you can take full advantage of the government matching grants over the years. Even making small, consistent contributions can add up over time, so make sure you set up an automatic deposit into your RESP to stay on track for your goals.

 

Take Advantage of Government Grants

 

One of the most attractive benefits of having an RESP is access to government grants, such as the Canada Education Savings Grant. This matches 20% of your annual contributions, up to $500 per child per year, with a lifetime maximum of $7,200. Currently, these figures might change in the future, but if you maximize your annual contributions, you can ensure that your family gets the full grant amount, which is a huge boost for your child's education savings.

 

Stay Within the Contribution Limits

 

RESPs come with specific contribution limits that you must follow to gain the most benefits. The lifetime contribution limit is $50,000 per beneficiary. If you exceed this limit, it can result in penalties, while under contributing may leave grant money on the table, too. If you don't understand these limits, you must learn more about our resp contribution limit and guidelines. Make sure you track your contributions annually to stay within the limits and make adjustments as needed.

 

Choose the Right Investment Options

RESPs allow you to invest in many different ways, including bonds, stocks, mutual funds, and GICs. If you choose to diversify your investments, you will balance risk while optimizing returns. Your investment strategy needs to consider your child's age and how soon they need access to the funds. If you have younger children, a higher-risk investment portfolio might provide better growth potential. However, as they start approaching post-secondary age, you may want to move to a lower-risk option to protect your savings.

 

Conclusion

Maximizing your child's education savings means that you need to think carefully about it—from starting early and utilizing government grants to staying within our resp contribution limit. With a plan in place and a proactive approach, you should be able to grow your savings efficiently and give your child a strong financial foundation for their education. 

resp contribution limit

0

4 Reasons Your Marketing Is Falling Flat

 Image credit

Is your marketing lacking something? You did all the research and strategically planned all of your marketing activities based on relevant data and analysis, but something isn't quite working out for you.

There can be many factors influencing the success of your marketing campaign. Oftentimes, you might be doing everything right, but small overlooked factors such as inconsistent branding, lack of personalization, or underestimating the power of social media can be missed. These factors can be massively influential for a successful marketing campaign.

Ready to learn more? Check out the commonly overlooked factors that could be impacting your marketing efforts today.

Knowledge

Do those in charge of marketing truly understand the product and your business? This knowledge is crucial for both your in-house and external marketing teams. If they lack a comprehensive understanding of your company, its offerings, and its unique value proposition, your marketing efforts may fall short. Product training equips your team with the necessary knowledge to create compelling marketing campaigns that resonate with your target audience, ultimately boosting your results.

Telling Not Showing

When it comes to marketing, you want people to see why they need what you're selling and how it fits into their lives. If you're telling people to buy something, not showing them why they need it, then it is likely impacting your success rates. For instance, instead of just saying your product is 'the best ', show how it solves a problem or makes life easier. You need to highlight benefits and show what this product or service can do and the value it brings. Focus on the customers' pain points and how you alleviate them rather than telling them they need it because x,y,z.

Thinking You're The Customer

Are you marketing as if you are selling the company to yourself? Because you are actually more likely not to be the customer or the target audience. What you want and what you think are irrelevant points, and marketing based on your own experiences and preferences is only going to alienate a large portion of your audience.

So remove yourself and your team, for all intents and purposes, from the messaging and talk directly to and appeal to those you are trying to sell to, not yourself. If your marketing team consists of 20-something males who are into fitness and eating well, yet your target audience is a 60-year-old man concerned with operating his farm, is what the team thinks is important going to be relevant to the 60-year-old farmer? Probably not.

Same Messaging and Approach

Marketing isn't a one-size-fits-all endeavor, and if you approach it this way and send out the same content across all channels, then this is why you aren't hitting the mark or your results are inconsistent.

Think of it this way: Would you wear cocktail attire to McDonald's or your sweats to a black-tie function? Probably not, and this is why your marketing needs to be individual for the channels you're using. One size doesn't fit all, and you need to appreciate the nuances between audiences to appeal to them and get the ROI you need.

0