Friday, July 31, 2009

The cost of having a children - My estimation.

More post on baby & pregnancy. But this time around, my focus on financial. I get the this idea when i read this article.Having new baby, meaning more money to save for their future undertaking. For their education fund, their marriage fund, their 1st career advancement, our emergency money, our own saving money. Everything have to take into consideration.

In this challenging world, money is everything, even to enter the toilet also need to pay. Big amount of money have to be invested for their future and our future. My office mate struggling to save RM300K for her son education fund. After office hours, she teaching tuition, all her bonus money goes to children education fund and make me worry by look at her. How am i going to have such a lot of money for my children.

There is a lot of choices we can choose to invest our money such as Amanah Saham Bumiputera (ASB), Amanah Saham Wawasan (ASW 2020), Trust Fund, SSPN, Etika Insurance last but not least EPF.

For my case, we did invest in ASB, SSPN, Etika Study Fund and Public Mutual Trust Fund.

ASB
Purpose : Retire Fund.
Saving Method : Salary deduction (easy, convenient, and tak akan terlupa) so its consistently in our account until we retired.
Dividend: Approximately 7%.

SSPN
Purpose : Education Fund
Saving Method : Bank in (all Amirul's duit raya goes to this account)
Dividend : Approximately 4%

Maybank Etika Study Fund
Purpose :Education Fund
Saving Method : RM 100/month

Public Mutual Trust Fund
Purpose : Mr Hubby investment
Saving Method :RM1200/year

Amirul monthly expenses :
  • Baby Sitter : Rm 230
  • Milk : RM 20x4 = RM80
  • Disposable Diaper : RM30 (Tesco Brand)
  • Cloth Diaper (Night use) : RM 80 x 7 = RM560 (re-usable for other children)
  • extra RM50 for his food (Vitagen, cheese, yogurt, etc)
  • Total expenses for month : RM390 plus RM560(one time purchase)

This is for 1 child, and we have planned for 4. Meaning total cost for all children is approximately RM 1560/month. However this expenses will change due to inflation rate which is increasing through year. How much do i need to full fill this cost, how much salary is sufficient to cope with this money matters, how many year do i need to save this amount of money, .. Fuhhhh lastly what else do i need to think about my children future. No parent in this world want to see their children live in suffer. We, as parent will try our best to give the best to our children.. This article is about the real cost of having a baby but in US. However we may adopt theirs.


" Anak adalah rezeki tapi adalah tanggunjawab ibubapa untuk memberi yang terbaik untuk meraka. Anak adalah amanah Allah kepada kita oleh itu kita hendaklah menjaga amanah itu sebaiknya"

2 comments:

  1. I recently came accross your blog and have been reading along. I thought I would leave my first comment. I dont know what to say except that I have enjoyed reading. Nice blog. I will keep visiting this blog very often.


    Margaret

    http://grantsforeducation.info

    ReplyDelete

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About Blog

Dear Readers, welcome to my personal blog. This blog is about the story of my little family and its members. You can find my posts are mostly about parenting and family matters. Some of my posts are not concerning parenthood at all like cooking and shopping because I would like some diversify in my parenthood blog. Sharing information to my fellow friends and loyal reader is the main reason to build this parenthood blog.

Parenting is not something we have to keep it to ourselves, but to share.

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KambingBujang

My name is kambingbujang. I am 27-year old mum with Amirul beside me. Now I'm carrying around his future younger brother/sister in my tummy.

Feel free to be my friend on facebook. (thank you, I know I'm cute). Follow me on my birdie twitter. If you're in a mood of writing email to me, shoot it via kambing.huda@gmail.com.



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