As parents, are you investing smartly for your children’s future? Good school, better coaching, or buying learning toys? Which has the highest Return on Investment (ROI)? Let’s find out.
There are 25 lac parents in Dhaka who earns more than 30K per month and has a child between 3-10 years old. Third highest expenditure for these families, after house rent and food, is on their child’s education. And surprisingly the parents more money on private tutoring and coaching centers than schools. So, coaching centers and private tutors earn more money than all the schools combined in Dhaka.
In a future world, when 70-80% of your children will end up in a job that doesn’t exist today, how smart it is for the parents to spend their hard-earned money on coaching centers and private tutors, when certificates and degrees won’t matter anymore.
I simply don’t understand why parents send their children to a coaching center when they can learn everything on 10minuteschool for free from better and smarter teachers.
The amount of time kids spending on homework, study and going back and forth to tutors or coaching centers is staggering. Kids don’t get the chance to explore and experience what they are good at or what they love. The moment children hit 4 years of age, their childhood is literally over. Their daily routine is more structured and busy then Elon Musk. And this is crazy.
This begs the question: What’s the best investment for parents for their children? So, let’s explore them.
Best Investment: Your Time
To me, the best investment for parents is their time for their children. Every child deserves to spend as much time as they can with their parents. Specially when they are between 3-8 years old. It’s when they started to develop as a complete human being. Working parents hardly gets 2-3 hours a day with their child to spend. Use it wisely and deeply. Stay connected. Don’t watch TV or spend time on Facebook between 8-10 PM when you have a 5 year old kid. Read a story book, draw picture together or make a craft or simply ask about her school and day.
Second best Investment: Books
The second smartest investment for your child should be books. Every family who has children between 3-10 years old today, should have a small library at home. When your kids are small, read books to them every day. When they are old enough to read themselves, encourage them to read books. And buy them books. Instead of buying a fancy 5000 tk toy car, buy 50 books with that money. Instead of buying a new phone or new furniture, buy books for your child. Don’t know which books to buy? You think it’s expensive? Can you afford to buy 2000 tk worth of books every year? Good. Because that’s all you need.
Here’s a list of 200+ age appropriate books that we selected for 3-10 years old child that every Bangladeshi children should read in their first 10 years of life. You can find the entire series here.
You can order all of them from Togumogu at a discounted price with FREE Home delivery.
Third best Investment: After-school program
The third smartest investment should be to give your child to a good after school program. Well, don’t confuse the after-school program with typical drawing class, singing and dancing class that’s operating in Dhaka. Lucky for the parent that there are few in Bangladesh now. Aloha is the oldest and largest after-school program that focuses on child’s mental development through mental arithmetic. BRAC-Kumon recently started operation that works similarly. Kids Time, the second largest after-school program, offers courses to develop creativity, problem solving skills among children between 4-10 years old. The Tech Academy offers robotics courses to 10-14 years old children.
All of these organizations offers something valuable that schools doesn’t offer. And they are all providing unique values to children with similar goal which is to unleash the creative potential of children and improve their future skills like creativity, analytical skills and problem solving skills.
So, these are the 3 best investments parents should make for their children to be successful in the next decade or so in Bangladesh.
The amount of ignorance among parents about what happening around the world is astounding. Parents think by investing more on early school, better school, more homework, more coaching and private tutoring, they are making their child’s future better. You are dead wrong. University degrees and grades won’t bring bread and butter for your children. It’s the skills – the ability of your children to solve complex problems and creativity that’ll matter most.
So be smart and invest smartly on your child’s future.
The article is written by Waliullah Bhuiyan, CEO, Light of Hope. You can follow his other writings on Medium here.