Having 2 to 4 children is not only good for you financially, it is also good for the general well being of the family. Any family planning expert would advise you to leave at least 2 years gap between your children. This will not only let you give them the adequate attention they require at that tender age, researchers say anything less than 2 years will increase the risk of having a baby prematurely and underweight. However, it is also good for you financially cause you will have at 2 additional years to save money for university for your second child. Some people might read this and say why don't I leave 10 years between them instead, okay I just exaggerated no one might think that way but I will suggests a maximum of 4 years ,you do not want to be paying school fees when you are 80. Having 2 or more children in the university at the same time could be expensive so you get to reduce the financial requirement placed on you by leaving adequate gaps between your children.
In most countries an individual will be at least 18 years old before entering the university. I know some individuals do enter at ages lower than that but the average lowest age is 18. If you save at least $4 everyday from the day your child is born, $4×30days is $120 per month and $4×365days is just 1460 per year. Put it in a halal bank account. By the time your child is 18 you would have saved $26,280 insha Allah (if Allah wills) The average minimum wage looking at countries whose universities are expensive is $7 per hour at 40 hours per week. That is $14560 per year, so you are only saving approximately 10% of your salary per annum for each child and that's if you are earning the minimum wage. The lowest tuition fee per annum is $3, 130 in USA and their universities are one of the most expensive in the world. Cut your clothes according to your size, you do not have to send your child to the most expensive university, the main thing is your child gets educated. At least you need $12520 ($3,310 ×4) in all cause it takes at least 3-4 years to get a first degree. Now some of you are thinking to yourself the university fees won't remain the same after 18 years, but looking at the trend it increases by 160% over 20 years so $3,130 will increase to $8138 per annum. That will be $32,552 ($8138 ×4) in all for the whole amount of years your child would be in the university for and you are already sure of saving $26280, but guess what your salary won't stay the same, even if you are on the minimum wage for 20 years which I really doubt cause you will definately get promoted or get a better job (it might not be possible to be on the minimum wage for 20 years), the minimum wage might definately increase. The average minimum wage in 1985 was $3 its is now $7. It has increased by 133% and you won't be on the minimum wage for 20 years, so what does that tell you? It tells you to increase the amount you save daily accordingly, just save 10% of your salary monthly for each child. It depends on how couples split bills so you both should just aim at saving at least $4 jointly per day, it could be more. I believe you won't really feel it. This article will apply to developed countries I presume and not developing countries as government universities are cheap in Nigeria I presume. Avoid interest, Allah hates interests.
Everything happens according to the will of Allah. Everything should be done for the sake of Allah. Part of doing something for the sake of Allah is hoping for a reward from Him
Halal means anything lawful Islamically.
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