With many grandparents wanting to help their families financially, particularly in the area of school fees, this article discusses two ways this could be done. It uses a case study to explain the potential financial differences.
Many grandparents want to give their grandchildren a head start in life, and a common way to do so is to help by paying some (or all) of their school fees. This can, of course, simply be done by making a contribution at the time the fees are payable. However, it’s not unusual for grandparents to plan ahead by setting funds aside in a specific account. That is one option, but there might be a better one.
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