Saving for Children Educatio

Saving for Children Education with Children Development Account

 Sorry for not updating on this blog so often as been really busy with Indonesia Project lately and also my ToTo & 4D Predictions at House Of ToTo. Things been going pretty fast pace for me and to be frank it is stressful but I like this. Living in a relax environment dun really suit me well since for young I had been "trained" to survive in a "Dog eat Dog" world.

Anyway today I going to talk about Saving for Children Education again. I had a post previously titled "Child Education Planning, is Saving, Endowment  or ILP Better?" which talks about Child Education Planning using the 3 basic ways (1 traditional saving and 2 insurance policies) but this time I am targeting the Children Development Account and how it actually helps to save for your Children Education.

All children born on or after 17 August 2008 will also enjoy Government contributions in the form of a dollar-for-dollar matching for the amount of savings contribute to the child’s Children Development Account (CDA). This account earn a nice interest of 1% pa!

Not only is a CDA account earning good saving interest, with the dollar-for-dollar matching by the government that mean you are actually earning double the interest you are suppose to. I know many of you at this point will say that you already know this and how the CDA can be used to pay pay fees for all your children who are attending Approved Institutions registered with MCYS under the Baby Bonus Scheme and also be used to purchase MediShield or Medisave-approved private integrated plans for all your children and pay for all your children’s medical-related expenses. But how can it helps their Post Secondary Education since that is where the main education are!

A fact that many do not know is that after on 31 December of the year of your child’s 6th birthday, the CDA will be closed and the funds will be transferred automatically to the child’s Post Secondary Education Account (PSEA) held with the Ministry of Education (MOE) if the child was born from 2008 onwards. If the child is born between 2001 to 2007, MCYS will write to you offering you the option to credit the CDA funds to any nominated account you may have with any bank. With the funds in the PSEA, your child will be able to use this money for their Post Education Needs.

What this mean is that if you are not comfortable doing investment or buying a life insurance policy to save for your child education and saving is what you do best, then why not save into your child CDA and enjoy higher interest than normal saving account as well as the government dollar-for-dollar matching.

Education Insurance

Education Insurance - For Your Child (kids)

 Education Insurance - For Your Child (kids) - Every parent will do anything to provide the best for your son / i her, including in education. To achieve that, we need to carefully plan the finances of the present. Have you thought about and prepare for the future of your son / i you? Prepare future children early, give the best for your children can grow and thrive later, get the best education and must be successful, more successful than your own is a new parents who are intelligent, print generation - the generation ahead. You as parents can also create entrepreneurs or entrepreneurs with venture capital funds to prepare your son / i you later. By creating a new generation of entrepreneurs, it means that you as a parent co's share in advancing the nation's economy and create new jobs.

It is now the Government has been promoting Free Schools campaign. Correct some of the funds for free, and even then only up to primary school. Parents always just set aside for the purchase cost of books, uniforms, library fees, etc.. This program is intended for educational equity in the country, so that educational programs can be developed into many areas, the better the quality of education, and be affordable for many families in Indonesia.

In terms of the spread of education is good, but it also means high demand for learning - is an absolute high, the days your child grow up, kids - your kids will be competing with its neighbor to look for work, looking for his future will be more competitive.

Now the elementary or junior high school graduates instead of the expensive anymore, just the same high school graduate junior high graduates, high school graduates, the same S 1 current graduates, especially graduates of S 1 is now the number was already a lot. Quality education and a higher level is required. It requires a great cost, if you did not prepare early, it will be increasingly difficult to realize it.

 Positive consideration of the following insurance education program are:

1. Ensure you have sufficient funds to finance the education of children as planned, even though something unexpected happens to you

2. Universities can choose a nice, classy and famous.

3. Improve discipline in save

4. Investment vehicle to get to the yield / high return

5. Get bonus & Inpatient Medication Card FREE

Choice - the choice is a smart choice, so you have to do the Special Intelligent and well for your son / i you. The earlier the better, the more funds raised, the greater the assurance of education your child is well ordered, the less you run your obligations as parents. Yes, right? Similarly, the more money raised the easier it is also starting a business or starting a business.