Raising a family brings immense joy, but also long-term financial responsibilities. With thoughtful planning, you can protect your family, prepare for major life milestones, and give your children the strongest start possible.
Education Planning
Planning for your children’s education should begin as early as possible. The earlier you start investing, the more time your money has to benefit from compounding growth, which can make the total cost of schooling more affordable over the long term. Start with a contribution you are comfortable with, and ensure your plan is flexible. Avoid products that impose penalties for changing payments or exiting early; your financial strategy should adapt as your life evolves.
In the Middle East, schooling comes with significant costs. Annual tuition in the UAE can be as much as AED 120,000 (roughly £24,500), excluding additional expenses such as uniforms, lunches, transport, books, extracurricular activities, and school trips.
University fees will again vary. According to a 2024 report from Aviva, many parents believe they will spend between £45,000 to £65,000 supporting children through higher education. These costs are likely to go up in time, so early planning remains essential.
Family Planning
Family financial planning is about building stability, protecting your loved ones, and ensuring that the goals you have for your children and your future remain achievable, no matter what life brings. It begins with establishing strong financial foundations: prudent cash management, clear budgeting, the right level of insurance and investing early for long-term objectives such as education, property, and retirement.
As your family grows, your financial strategy must evolve with it, balancing everyday needs with future commitments while keeping flexibility at the centre of your plan.
Later in life, planning naturally shifts towards structuring your assets correctly and ensuring the right legal protections are in place. This includes keeping an up-to-date will, appointing powers of attorney, and preparing the documentation needed to safeguard your wishes should you become unable to make decisions yourself. It also means reviewing how your estate is organised to assess and where possible, reduce any exposure to Inheritance Tax. With careful planning, you can maximise the legacy you leave behind, ensure your wealth passes efficiently to the next generation, and maintain control over how your assets are managed at every stage.