Going to university or getting a good education opens up countless opportunities in life and parents want to give their children these opportunities. With this in mind, many parents think about how they can put money aside for their children. Without support, it is difficult for many families.
Of course, the legal framework is rarely the reason why parents support their children. Nevertheless, you should know that you are legally obliged to support your child financially until the end of their initial education. Initial education includes the acquisition of a first vocational qualification. The school-leaving certificate is not ‘initial education’ as it does not qualify for a profession. If your child then wishes to study, you will generally provide financial support until they complete their Master’s degree.
The costs start after school
Switzerland has a very good education system and compulsory schooling in state schools is largely free of charge. After that, things look different. Tuition fees vary greatly in Switzerland, and there are also costs for teaching materials, laptops, rent, insurance, and so on…
In fact, only a few teenagers and young adults manage to finance their studies or training themselves. That’s why it’s all the more important to have built up a financial cushion beforehand. This is the only way your child will one day be able to concentrate fully on learning and successfully completing their studies.
The Clanq app helps you
With Clanq, we want to support you in your endeavours to save for your child. Small gifts of money for birthdays or Christmas – whether from you or other relatives – are an excellent way of saving a considerable sum for later education over the years.
With Clanq, such gifts of money and other savings can be collected clearly and linked to savings goals. The whole family clan can join in and contribute even small sums. The money remains freely available in the piggy bank at all times, should it be needed before the educational journey begins.
Because saving for education is particularly important to us, we have developed the Clanq app with this in mind. We are currently working flat out to perfect the Clanq app so that parents in Switzerland can benefit from savings goals, savings rules and cashback benefits.
The Clanq app is already available for testing in the App Store and Google Play. Try it out now! It’s also best to sign up for our newsletter. That way you’ll always know what’s new in the Clanq app.
