One particular decision that required extensive research involved inquiring about ways of enrolling my daughter into a new school with tuition payment. Considering the different factors influencing the decision, intuitive resources were not credible enough. Therefore, actual research had to be conducted to achieve the optimal solution. The process included selecting relevant articles on financial advice and extracting valuable information from them.
In this way, the decision about managing my daughter’s school transfer also required considering the budget aspect of the issue. I had to determine the best way to ensure a smooth enrollment without jeopardizing the family’s financial state. Specifically, the problem concerned the question of whether the procedure was worth the obligatory expenses. I had to choose the optimal solution to managing my child’s tuition and education costs.
The main factors to be taken into consideration comprised the additional monthly payment and the current bills that are already directly influencing the family budget. Moreover, besides the school fees, we would have to consider costs for stationery, books, and other secondary purposes. The expenses would have to be calculated to not limit my daughter’s extracurricular activities and opportunities. Therefore, the ultimate decision was based on a helpful financial literacy article.
As previously mentioned, credible sources were significant in determining the best method of dealing with the enrollment. According to Goyal & Kumar (2020), student loans and maintenance grants are often overlooked, while both can serve as essential aid in supporting families (Goyal & Kumar, 2020). Hence, although loans were not originally planned in the process of enrollment, they would become the second option in cases of financial issues. Therefore, the ultimate decision comprised using the saved resources to ensure my daughter’s school transfer, keeping the loan option as a possible alternative.
Reference
Goyal, K., & Kumar, S. (2020). Financial literacy: A systematic review and bibliometric analysis. International Journal of Consumer Studies, 45(1), 80-105.