Child education planning in investments involves creating a financial strategy to fund a child’s higher educational expenses, such as tuition fees, books, accommodation, and other related costs. This planning typically starts early to take advantage of compounding returns and to spread the financial burden over time.
Vacation planning refers to the financial strategy of setting aside funds specifically designated for leisure activities, such as vacations or travel. It involves incorporating these expenses into one’s overall financial plan, budgeting for them accordingly, and possibly even investing money with the goal of generating returns to fund future vacations. This approach ensures that individuals can enjoy their desired leisure activities without jeopardizing their long-term financial goals or stability.