Advertisement

Anonymous

20 Dec 2023

∙

Saving for kids

Hello! me and my partner are planning to have children in around 3-4 years time and were wondering what would be the best way to go about saving for it? this would include costs of the pregnancy, general child-rearing and of course saving for their future education. we are unsure if just putting money into a cash management account would suffice, or whether a savings plan would be better. thank you!

8

Discussion (8)

What are your thoughts?

Learn how to style your text

Ace

17 Jan 2024

Set the goals for each item and assess how much is needed + how much time is needed to save and work towards it.

Reply

Save

Robert Chui

25 Dec 2023

3-4 years time frame is something that I would consider as short to medium term goal. Therefore, you will want to put your money into assets that are more liquid and not things like (long term annuity plans; properties etc.).

Reply

Save

aaron siow

23 Dec 2023

Savings or endowment plans that have flexibility and guaranteed returns can help put your mind at ease, so you're assured of the sum of money you'll receive upon maturity. Any investment returns from the plan would be a nice bonus!

Reply

Save

Javier Tan Yan Kai

23 Dec 2023

Actuarial Analyst at AIA

Set aside money every month in high yield accounts

Reply

Save

LLy

22 Dec 2023

Other than the means (to maximise saving returns), also good to think about the absolute amount you ...

Write your thoughts

Related Posts

I’ve been saving 65% of my income monthly. Self employed with 2 kids. I felt that I’ve been saving too much and I’m starting to lose my motivation because basically I have no social life? Should I be more relaxed with my savings?

Im a 21 years old with a 1.5 years old kid. taking full time degree as of now. I have a total Savings of 180k as of now. I sell stuff online ..getting revenue of 10k a month. Bto coming in 2023. Any good investment or saving plan I can consider?

5-room HDB - loan $190k. Household income $9k (saving $2k monthly) with 4 kids (< 6 yrs old). $200k & nil investments. Should we pay full next year when due? Or renew loan and save in FD? Any tips?

To parents out there, are you able to save money after having kids? If yes how much % can you save?

What are some ways families w kids save $$? Saw a tiktoker post that they must at least earn 30-40k to afford having kids.

Anyone taking home 3k a month and is the sole breadwinner of a family with 1-2 kids? Any financial advice to give to a potential single-income earner with regards to expenses & savings?

Related Posts

I’ve been saving 65% of my income monthly. Self employed with 2 kids. I felt that I’ve been saving too much and I’m starting to lose my motivation because basically I have no social life? Should I be more relaxed with my savings?

Im a 21 years old with a 1.5 years old kid. taking full time degree as of now. I have a total Savings of 180k as of now. I sell stuff online ..getting revenue of 10k a month. Bto coming in 2023. Any good investment or saving plan I can consider?

5-room HDB - loan $190k. Household income $9k (saving $2k monthly) with 4 kids (< 6 yrs old). $200k & nil investments. Should we pay full next year when due? Or renew loan and save in FD? Any tips?

To parents out there, are you able to save money after having kids? If yes how much % can you save?

What are some ways families w kids save $$? Saw a tiktoker post that they must at least earn 30-40k to afford having kids.

Anyone taking home 3k a month and is the sole breadwinner of a family with 1-2 kids? Any financial advice to give to a potential single-income earner with regards to expenses & savings?

Advertisement