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Sunday, June 07, 2009

Savings for Children

My name’s Ria, I have 2 son. As employees of the private sector, I want to set aside some savings for my income children, the preparation for the sequel I was not working. Are there children's savings that are tailored to the child's condition, such as the cost of entry for high school / university fees and monthly later? At least how I have to save each month? Thank you.

Ria, Jakarta


I salute to you think that far ahead to set up education fund for your children as early as possible. Moreover, if you do not plan to continue working, or the age of the child differ far. Clearly not possible to rely solely on wages, but it must make investments now. So that when the time comes, the money is available.

Savings account at a bank can actually 'adjust' with your needs. Especially if you use the Savings Plan account. In order for your goals can be truly achieved, the exact right amount of the time. Timely means, when the need of funds has been available. Appropriate means and the amount of liquid funds in accordance with your needs.

To prepare high school education funding, try calculating how many more years he will be entering high school. Savings accounts and make the plan a set period of time according to the age of the child. If he was aged 10 years and 8 years old again entered high school, you're so savings plan maturity 8 years. This must be done so that the liquid funds can be timely. Also with the education funding for the study later.

While the fund, actually does not need to worry too because the minimum is not large. Deposits can be seen from only Rp 100,000 each month. And more convenience, you can add the fund at any time if there is more money.

Now, that amount can be right, I also highly recommend that the mother needs the first child later when the high school and enter college. How easy. First, set the first in which the mother will send children. Then we can estimate how much needs to go to high school and college with the current standard cost. Then multiply the cost now with the price increase approximately 10% each year. That is roughly the cost of the necessary later.

From this amount, then can be calculated exactly how much approximately monthly deposit that needs to be done. You can be consulted on the consultant Financial Planner, or can direct consultation with the bank officials and ask them to calculate.
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