Savings for higher education

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Did you guys know the cost of a private University in local and international?

In the year 2012, it costs an average of RM 1500 per subject. Personally, as a student, i take 13 subjects a year. A year costs 20 000 a year. Minimum study duration for a degree in a local private university takes 4 years.

Conclusion, you need atleast RM 80 000 minimum for syllabus cost alone for higher education in Malaysia (not including books, living cost, etc).

One way to find out more on how to save for your child's education is to save with an insurance company. Surprisingly, their investment per year averages to about 18%-38% a year.

I am not an insurance agent, but i know a good one from Prudential . call him 012 6225 202 - Amin Fuzi.

He also provides a medical card I think. ohh and i am one of his clients.

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When we have children, I agree that the bulk of our cost go towards education fund. It is highly advisable to save the moment our child is born. Insurance and education costs formed the bulk of our savings. The premium is lower when we invest from the time our child is born and also the compounding interest of savings benefits us. Save now to remove the stress of insufficient money to continue funding our childrens' education in the future.

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