Happy Father’s Day!
A father is a source of inspiration who exhibits various qualities and fulfils different roles while providing financial and emotional support. Your father, your superhero, plays many roles and has an influential presence in your life. However, we often forget that our superheroes are growing old as we are growing up. So, it’s time to step up! Let’s learn how to share the responsibility on Father’s Day 2023.

Key Highlights:

• What is the importance of International Father’s Day 2023?
• On this significant day, let’s learn about financial independence
• What should I do if I want to become financially independent?
• Some fantastic benefits of an education loan to achieve financial freedom and self-independence

What is the importance of International Father’s Day 2023?
Father’s Day is observed worldwide to celebrate fatherhood and honour the numerous sacrifices a father makes for his family. When you wish your father on this special occasion and acknowledge his contribution that has shaped your life, you will definitely make him feel proud.

On this significant day, let’s learn about financial independence
Fathers always prioritise their child’s education, health and well-being over everything. For them, savings can be a big relief, so they can set aside some money for a rainy day to sail through emergencies. However, they end up only focusing on their child’s future. They often let the retirement plans take a back seat so that they can ensure your expenses are taken care of. But you can now share the responsibility by seeking financial independence.
Financial independence is being self-reliant and not depending on others for expenses. Hence, it is important for students to learn to spend judiciously, save a part of their pocket money and even finance their higher education independently. Please remember, these are some basics to be financially independent. Furthermore, financial independence for women is just as important as it is for men. Women should be financially independent to lead empowered life.

What should I do if I want to become financially independent?
In addition to saving money and following a budget, you can take one more crucial step to be financially independent by choosing to finance your education independently. Education inflation can become a roadblock to achieving your academic aspiration. You can easily overcome this by opting for a student loan. Whether you want to study abroad or in India, an education loan is easily available.
Some fantastic benefits of an education loan to achieve financial freedom and self-independence

• Be Atmanirbhar

  You no longer have to depend on your father to achieve your academic ambitions. You can choose to finance your higher studies without depending on anybody. Education loan bridges the gap between you and your educational dream. You can take pride in earning a self-made badge.

• Why should you liquidate your family saving when you can take an education loan?

  Every father will save for his child’s education and future. However, education inflation can sometimes force your parents to sell assets or liquidate the savings they have kept aside for contingencies. Instead, you can take a student loan. Let the savings be savings!

• Quality education for becoming financially independent

  Well-ranked universities offer highly-acclaimed education programs, opening a new dimension of opportunities for you. Hence, it is advised never to settle for anything less. Premier varsities offer state-of-the-art infrastructure, research opportunities, and vibrant campuses. However, higher studies at such reputed educational institutions can be expensive. You can secure a spot in your dream university with a student loan.

• Being responsible at an early age

  When you take an education loan, you must be responsible to repay the loan. Although student loans come with a moratorium period where you don’t have to contribute for a short period, you must remember this is not an interest-free period. Therefore, it is advised to start paying simple interest/partial interest during this grace period. This will instil financially prudent habits in your student life.

• Credit score

By repaying your loan, you will build a healthy credit score. A good score will enable you to enjoy various features and benefits when you opt for other financial products, such as credit cards, home loans and car loans. You will need these financial solutions once you complete your academic journey. Hence, planning your monthly expenses and setting some amount aside for emergencies to ensure timely repayment of education loans will go a long way.

So, if you want to be financially independent, you can opt for an education loan to study in India or overseas. At Avanse Financial Services, we design hyper-personalised loans for students that cover the holistic cost of education, including tuition fees, accommodation costs, travelling expenses, the cost of learning devices, and other education-related expenses. An education loan for study abroad programs is available too. If you want us to guide you through your academic journey or want more information about student loans, please connect with us! We will be glad to assist you.