Your children’s future will not only depend on their upbringing and the education, it will also depend on the financial backing that you are able to provide. This requires careful planning and budgeting.
The major costs in bringing up children are education related, particularly if you want to provide them private education and have them pursuing their tertiary education in a reputable and renown university. You may also consider rewarding them with holidays in between to widen their knowledge and exposure about other countries and cultures.
You can start saving through an Advance Account-i and sub account(s) (Advance Link Account-i) to earn potentially better profit rate, backed by Personal Internet Banking and Telebanking for total convenience. You can also set up a longer-term Term Deposit-i to earn even potentially more on your money.
Come and visit one of our helpful Financial Guide when preparing a comprehensive investment plan for your children. They can help you come up with schemes that include Health and Life Takaful to protect your family if the unforeseeable should happen to you. This might include:
1) HSBC LifeStyle Saver, an affordable plan that helps you achieve your savings goal. 2) HSBC LifeSelect Regular, an affordable regular contribution investment-linked plan that is tailored to your protection and investment needs, and
3) Takaful PA Shield protecting you and your family should the unexpected happen.
It is never too early to teach your children good saving habits. Inculcating good financial habits in them will prepare them for managing their own finances in the future. This includes managing their pocket money which you could pay weekly or monthly into their Advance Account-i through an automatic payment.
Learn as much as you can about financial planning and budgeting, from books, magazines and the internet. Solid financial education will stand you in good stead right through your life.
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