The 500 plus program has aroused a lot of emotion and controversy from the very beginning. He has many supporters and opponents, but ultimately, from April 2016, families with children can count on financial support from the state. Until now, the government has paid monthly child-raising benefits for the second and each subsequent child. From July 2019, the plan will change and include all children in Poland, without any exceptions.

 

What can parents do with extra money?

What can parents do with extra money?

There is really no limit to the purposes for which money from the 500 plus program can be used. However, it is worth considering what to spend additional funds on. The key issue is the current financial situation of the household. If we have a well-paid job and additional funds do not change our lives radically, then it is worth thinking about a good investment or saving them. There are several possibilities worth using.

 

A wise investment

A wise investment

Monthly financial assistance in the amount of $ 500 can (and even should) be used for investments in the development of our child. The period of childhood and becoming young adults is the perfect time to learn and develop interests. We often encounter situations where our children’s passions are limited or completely impossible to achieve due to lack of money. The 500 plus program is an ideal opportunity to allow children to fully realize themselves. Additional sporting activities, tutoring or covering other costs related to education should not be a problem anymore.

We can also increase the comfort of our children by equipping them with decent school supplies or clothing. We should not have a problem organizing well-deserved holidays. Properly planned and postponed money will allow you to send children to interesting summer camps or trips abroad. The whole family can also benefit from these funds. Often, due to work and a fast lifestyle, we lack time for family conversations. It is worth allocating additional funds for attractions for the whole family.

Another issue that the 500 plus program can solve is to keep a child in college. Currently, a large percentage of young people decide to go to higher education, which, unfortunately, is very expensive for parents if the student does not take up any work during this time. Making quick calculations, the annual assistance from the 500 plus program is a total of $ 6,000. If we start to postpone this money early enough, we won’t have to worry about the future of our children at all. Until now, many parents were forced to take loans or work excessively so that their children could go to college. Financial assistance from the state should change this. It is good to deposit money into a savings account in such a situation. After a few years, a really large sum of money accumulates there.

 

Coverage of current expenses

Coverage of current expenses

Money from 500 plus is also an invaluable help in covering the daily costs of maintaining children. School textbooks, public transport tickets, or even school trips are usually big expenses for parents. Additional financial support is really helpful in such situations. However, remember not to spend this money on your own goals and dreams. These measures should above all help our children and secure their future. Buying a new TV set or replacing a car with a newer model has nothing to do with children’s development and comfort.

Of course, this money will definitely improve the home budget and allow you to buy items that we couldn’t afford before. No less one, then it is worth thinking about aspects of our lives that affect the whole family, especially children. Healthier meals, an investment in sports activities for the whole family, or even comfortable school shoes are good goals and money spent wisely. Let’s use the help and opportunities that the state gives us reasonably. We do not know how long the 500 plus program will last, so it is worth establishing a strategy and financial plan related to it.